Stéphanie de Bodinat

Is Generative AI the New Fashion-Tech Bubble? An article The Business of Fashion published this week portrays how this powerful technology is fundamentally changing how we design, create, and shop for clothes under our noses. While the potential applications are mind-blowing (think instant custom clothing, hyper-realistic virtual try-on experiences), the article raises important concerns: - Unrealistic expectations: instant custom clothing or hyper-realistic virtual try-on may not be achievable in the near future. This concern, classified as AI ethics is really on the rise. - Ethical concerns: GenAI could be misused to create deepfakes or to generate clothing that infringes on copyright. It is important to have safeguards in place to prevent these kinds of issues. - Impact on human creativity: GenAI could lead to a decrease in the demand for human fashion designers. While AI can certainly automate some tasks, it is important to remember that human creativity is essential for the fashion industry to thrive. Widespread adoption hinges on overcoming these challenges. What is stopping you from taking GenAI on board? #fashiontech #fashion #tech #AI #futureofretail

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🌍 THE WORLD CANNOT AFFORD FAST FASHION! Today, we are pleased to announce the publication of Vestiaire Collective‘s 2024 Circularity Report. This year, we wanted to redefine the way we see the true cost of an item. Cheap initial prices, constant promotions, rapidly changing trends… Fast fashion isn't just environmentally harmful, it is a financial trap too! What have we learned? 💥 Across all categories, preloved curated fashion items on Vestiaire Collective are 33% more affordable per wear in the long run. 👗 Pre-loved dresses are worn 8+ times more. Cost-per-wear of $1.56 vs. $5.66 for fast fashion alternatives. 👜 Pre-loved designer bags offer ~72% lower cost-per-wear vs. fast fashion alternatives. 🕰 Our Collective wears their pre-loved pieces almost 2x more than fast fashion owners wear theirs, and keep them for 31% longer. “In today’s climate of inflation, it is obvious: neither people nor the planet can afford fast fashion. This report sounds the alarm on fast fashion’s devastating impact, and should be a wake-up call to all to end overconsumption and overspending.” - Fanny Moizant, President and Co-founder of Vestiaire Collective "Fast fashion is a false economy. Buying cheap fast fashion is deceptive, as in the end you end up replacing items again and again. We champion circularity as it not only benefits consumers’ wallets, but also protects our planet. Pre-loved luxury items are more cost-effective over time with a longer lifespan. Our mantra ‘Think First, Buy Second’ makes more sense than ever." - Dounia Wone, Chief Impact Officer of Vestiaire Collective #VestiaireCollective #ThinkFirstBuySecond #Circularity #CostPerWear

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Closing Keynote: Francesca Bellettini on Leadership and Resilience Today at the FT Live Business of Luxury Summit, the closing keynote interview featured Francesca Bellettini, Deputy CEO of Kering and President & CEO of Yves Saint Laurent, moderated by Jo Ellisom, Editor at HTSI, Financial Times Key Learnings: - Role Model: Francesca Bellettini exemplifies female leadership and empowerment. - Creative Vision: Luxury is about making people dream, being creative, and collaborating with creative individuals. - Resilience: The pandemic strengthened resilience, teaching valuable crisis management lessons. - Balanced Growth: Emphasizing the importance of slowing down, focusing on heritage, tradition, and brand trust while embracing new trends. - Data-Driven Decisions: Using data to validate business decisions and identifying relevant KPIs. - Opportunities in Crisis: Leveraging crises to focus on controllable aspects and fix problems. - Sustainability: Transitioning from product destruction to prioritizing sustainability and efficient management to avoid excess production. Stay tuned for more insights from the summit! #FTLuxury #Luxury #Sustainability #Management #Leadership #Resilience #FemaleLeadership

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Insane business potential for Immersive video ads: Roblox expands Immersive Video Ads Access to All Advertisers - this move signals a shift for brands seeking to engage Gen Z. Unlike traditional advertising, video ads within Roblox aren't mere interruptions; they're integrated experiences within the platform. Watching or interacting with ads can reward players or even invite them to "enter the ad". A new study shows that 78% of Roblox users enjoy brand integrations and 75% notice Roblox ads more than elsewhere, enabling a deeper brand connection and forging lasting brand loyalty via immersive storytelling. Revenue and traffic-wise, Roblox has 71m daily active users, mostly Gen Z. With 57m mobile downloads in Q1 2024, Roblox is generating around $220m in revenues through in-app purchases worldwide (57% from the US). Metaverse gaming revenue growth is expected to grow by about 46% annually in the next couple of years. (Statista) Besides advertising, Roblox provides a fresh way to enhance omnichannel marketing and sales by taking phygital (physical + digital) e-commerce to the next step. A recent collaboration with Walmart allows customers to enter an experience where they would be greeted by a new storefront showcasing virtual replicas of select physical items sold at Walmart stores. Purchases made through this experience would translate into real-life items shipped directly to the customers' doorsteps. #Roblox #Metaverse #GenZMarketing #ImmersiveAdvertising #Advertising #marketing #CommerceEvolution

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Insights from CEO of Bottega Veneta, at FT Live Business of Luxury Summit During the FT Business of Luxury Summit, Leo Rongone provided valuable insights into the brand's strategy and vision. Moderated by Jo Ellison, Editor at HTSI, Financial Times, the interview highlighted key aspects of Bottega Veneta's approach in the luxury fashion market. Challenges: - Digital Strategy: Balancing digital presence with brand exclusivity. - Sustainability: Integrating eco-friendly practices while maintaining high-quality standards. - Market Reach: Expanding globally while preserving brand identity. Key Insights: - Exclusivity: Bottega Veneta's decision to exit and later return to social media, focusing on Weibo, underscores its commitment to individuality and exclusivity. - Sustainability: The brand's environmental initiatives, including a lifetime warranty on handbags, demonstrate a strong commitment to sustainable luxury. - Innovative Marketing: Collaborations with top designers and artists, coupled with selective distribution, ensure Bottega Veneta's premium positioning. - Consumer Engagement: Emphasizing personalized experiences and craftsmanship to build strong emotional connections with customers. - Adaptability: The brand's ability to navigate crises and invest in digital infrastructure has reinforced its market position. These insights reflect Bottega Veneta's dedication to preserving its unique identity while innovating in a competitive luxury market. #FTLuxury #BottegaVeneta #LuxuryFashion #Sustainability #Fashion #FashionInnovation #Marketing #Exclusivity

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Attending the FT Live Luxury Summit in Venice was like reading the financial times, but with a hyper-focus on our sector and with the benefit of curation, discussion and perspective. Sure, you can get all the information by reading the sheets. But here, all the topics that impact our sector most are shared and discussed in a room full of the CEOs, whose opinions about the topics you would like to hear, challenge, debate and learn from. The audience and the panelists is where the most value lies in an event like this that, by the way, was delivered with precision and excellence at every turn, as luxurious as its focus market. Top 3 takeaways: 1) Become a member of the community you serve. Authenticity and integrity are integral to luxury success. It is everything. You cannot fake it. And you must be able to communicate clearly to your audience - which means always staying close to and learning from your core customers, consuming what and where they consume and contributing there. 2) ‘Slobalization’ is what you see in those decreasing numbers. Global markets are normalizing not receding after the post-pandemic buying frenzy. Japan and US are still the strongest and most appealing markets for luxury. China is slowing but it is still one of largest markets with the most growth potential. 3) AI is a tool for humans to use. Not a threat. like most technology, reactions are alarmist at first. To leverage it efficiently, you must learn new skills and methods to optimize the efficiencies it can create. If you don’t learn how to use it, it may make you less qualified than another candidate for your role. #FTLuxury

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Introducing Pi Footwear: Vision Meets Style Discover how our latest Pi collection transforms from minimalism to expressiveness, inspired by visionary leadership and the spirit of innovation. Swipe ➡️ to see the evolution! 🚀 1️⃣ Pi Minimalism - Begin with the essentials, inspired by the simplicity and directness of effective governance. Each design, like a policy for progress, is sleek and purpose-driven. 🌌 2️⃣ Pi Refinement - Just as leaders refine their strategies, we enhance our shoes with premium materials and subtle improvements, representing the continuous pursuit of excellence. 👞 3️⃣ Pi Expression - Bursting with vibrant innovation, this phase embraces the diverse and dynamic spirit of a progressive society, reflecting the cultural richness of the 1960s. 🎨 4️⃣ Pi Realism - Our crowning achievement: footwear that combines realism with luxury, embodying the aspirations of those who dare to lead and dream big. Every detail showcases the pinnacle of design ingenuity. 👠 🌍 Like the bold explorations of policy pioneers, Pi Footwear is more than a brand—it’s a movement towards a future where fashion intersects with political vision and innovation. Join us on this journey of transformative style. 🌟 #PiFootwear #VisionaryDesign #LeadershipInStyle #PoliticalAI #InnovationMeetsFashion

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With far more demand than supply, Hermès #Birkin bags flip economics on its head by having a resale value of ~2x the original sales price. Of course, that’s only if you can get one. Demand is so high that when a shipment of Birkins arrive to a store, they are “assigned to individual sales associates,” who must make a case for why their client “deserves a Birkin and get the store manager’s approval.” Yet another reason why I love the #fashion industry. https://lnkd.in/emtwPUnt

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Interesting analysis from Elena Kirioukhina about the phenomenal results of MiuMiu. I would take : i) strong team with no permanent change of designer, CEO, merchandising, ii) commitment to the Brand values, iii) significant and focus marketing

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Another release from RetailX is covering the Luxury sector "2024 Global Luxury Report" that provides a comprehensive overview of the luxury goods market, showing a significant recovery and growth across various segments. Here are the crucial findings and projections from the report: 1. Market Growth and Regional Analysis:   - The global luxury goods market reached $354.81 billion in 2023, an increase from $312.63 billion in 2022.   - Asia leads in revenue generation with $135.2 billion, with significant contributions from Europe and the US. 2. Consumer Spending and Demographics:   - Luxury fashion remains the dominant segment, accounting for a third of the total expenditure.   - Millennials and Gen Z are prominent consumers, showing increased participation in luxury spending.   - Significant geographic variances in spending per consumer, with the highest spending in the US and Europe. 3. E-commerce vs. Physical Stores:   - Despite the growth of e-commerce, physical stores continue to be the preferred shopping channel, accounting for the majority of luxury purchases.   - Mobile shopping is particularly prevalent in Asia, indicating a trend towards digital platforms. 4. Sustainability and Ethical Consumption:   - Consumers are increasingly leaning towards sustainable and ethical luxury products, with nearly half expressing a preference for sustainable luxury clothing.   - The second-hand luxury market is also expanding, reflecting a shift towards more conscious consumption patterns. 5. Technological Innovations and Future Trends:   - The luxury sector is embracing digital innovations, including the use of social media, virtual reality, and the metaverse to engage consumers.   - Future trends indicate a continued increase in online shopping, with innovations in social commerce and live shopping experiences expected to gain traction. 6. Challenges and Opportunities:   - The luxury market faces challenges from economic fluctuations and changing consumer preferences.   - Opportunities for growth exist in tapping into emerging markets and enhancing digital engagement strategies. It underscores a dynamic industry that is adapting to technological advances and shifting consumer values, particularly towards sustainability and ethical practices. The luxury sector remains robust, driven by younger demographics and innovative marketing strategies. #trend #luxury #strategy #sustainability

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🔍 According to the latest Altagamma x BCG report: The TOP 1% of customers DRIVE 21% of luxury sales. Can you identify your VICs? 📣The 10th Altagamma Consumer and Retail Insight Conference in Milan revealed groundbreaking insights about the high-end market’s most influential customers. Despite market uncertainties, the high-end market shows MODERATE GROWTH, largely driven by the top 1% of customers. These elite buyers spend over 400K RMB annually, showcasing their immense purchasing power. 💰These "Beyond Money" VIPs are unfazed by economic fluctuations and consider luxury ESSENTIAL. Their consumption is growing at 10% annually, outpacing all other segments. To captivate this discerning clientele, luxury brands must pay attention to: 🔹Hyper-local Personalization & Global Recognition: Ensure personalized experiences while maintaining consistent service globally.    🔹 Unique Products WITHOUT Artificial Wait Times: Acceptable wait for custom products if the experience is exciting and reasonable.    🔹 Client Loyalty to Sales Associates & Client Advisors: 70% of VICs would SWITCH brands if their trusted advisor moves, highlighting the need for brands to attract and retain top advisors.    🔹 Community Building: New VICs seek community and social connections, with 80% reportedly valuing emotional ties to brands.    🌟The report also revealed that, despite their huge impact, for every 10 brands purchased by VICs, ONLY 2-3 brands recognize them as key customers. This means 70% of brands are missing out on significant opportunities! The market volatility and rapid changes are also making the luxury industry increasingly complex, demanding WEEKLY ANALYSIS for brands to stay on top of the game. 📈 The KEY to success still lies in deeply understanding your customers. By collecting valuable data and leveraging CRM tools effectively, brands can enhance targeting efforts across sales, engagement, product development, supply chain, and more. At ITC, we’re working with more and more luxury brands to help them transform retail and customer engagement by maximizing the values of CRM and clienteling. Don’t hesitate to reach out if you want to know more ;) Leave a “YES” in the Comments below for the full version of the Altagamma x BCG report. Thank you Yin Yuze for this interesting updated on Luxe.Co #Luxury #CustomerExperience #VIC #Personalization #CRM 

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French-Italian eyewear giant has agreed to buy the streetwear juggernaut Supreme from VF Corporation Corp. for $1.5 billion in cash, adding another lifestyle brand to a stable that already includes Ray-Ban and Oakley. Supreme was founded in New York by James Jebbia in 1994. It sells clothes and footwear targeting skateboarding and urban trends. With its distinct red and white logo, Supreme has moved from being a cult favorite to a mainstream success. It now has an online business as well as 17 stores in the US, Asia, and Europe. EssilorLuxottica shares traded 3% lower early Wednesday in Paris, trimming their year-on-year gain to 10%. VF was down 0.5% in premarket US trading. Jebbia said he supports the sale to Essilor as it will allow Supreme to focus on its brand, products and customers. Supreme’s growth has been fueled by so-called “hype” marketing, including limited-edition collaborations with partners ranging from watchmakers to musicians, and frequent “drops” of new products. Among others, it has tied up with Louis Vuitton and The North Face. VF acquired Supreme in 2020 as part of a $2.1 billion deal with private equity firm Carlyle Group and investors including Goode Partners. EssilorLuxottica was formed from the merger of two of Europe’s most prominent eyewear companies — Italy’s Luxottica and France’s Essilor. It is a global leader in the production and sale of prescription eyeglasses, sunglasses and contact lenses. Bloomberg #brands #marketing #retailing #mergers

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Lately, RetailX has issued its yearly issue on Fashion Sector and came up with a certain number of insights. I summarised them for your convenience. The 2024 issue highlights significant growth in the global fashion market, revealing a vibrant recovery to $673 billion in 2023, surpassing pre-pandemic levels. Here are some of the critical findings and insights from the report: 1. Market Growth and Regional Dominance:   - The fashion market experienced an 8% annual growth with apparel being the largest segment, followed by footwear and accessories.   - Asia emerged as the leading market, generating nearly 50% of global fashion sales, significantly outpacing the Americas and Europe. 2. Consumer Spending Trends:   - Despite high volumes, average spending per consumer in Asia remains lower compared to the more affluent regions like Europe and the Americas. In contrast, Australasian consumers spend the most on fashion annually. 3. E-commerce and Physical Retail Dynamics:   - E-commerce has seen robust growth, particularly in India and China where more than two-thirds of consumers shopped online. However, physical stores remain preferred globally, underscoring the importance of a hybrid retail model. 4. Sustainability and Second-hand Fashion:   - Sustainability is increasingly driving consumer choices, though regions like the UK lag behind with only a third of consumers purchasing sustainably. Meanwhile, the second-hand fashion market is expanding, with a significant portion of global consumers engaging in this more sustainable practice. 5. Technological Adaptations and Innovations:   - The report underscores the critical role of technology in shaping future market trends, including the adoption of digital wallets, contactless payments, and advanced e-commerce platforms. 6. Challenges and Opportunities:   - The sector faces challenges such as geopolitical impacts on supply chains and the need for sustainable practices. However, these challenges also present opportunities for innovation and market expansion, especially in developing regions and through sustainable fashion initiatives. The report suggests that as the global economy stabilizes, fashion will continue to thrive with increased consumer spending, especially in emerging markets. However, adapting to the hybrid nature of modern retail and enhancing sustainability practices will be crucial for future success. #trend #fashionindustry #strategy #sustainability

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To succeed, multi-brand e-tailers need to clearly articulate their value proposition and tailor marketing to the next generation of shoppers. Insights from my colleague Federica Levato shared with Business Of Fashion shed light on the keys to success in the ever-evolving landscape of online #retail

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👓 When Tech Meets Fashion: Meta's Vision Extends Beyond the Metaverse 👓 Breaking news: Meta is considering a stake in eyewear giant EssilorLuxottica. Imagine a world where your Ray-Bans and Oculus have more in common than just a spot on your face. 📱 + 👓 = The future of integrated tech and fashion. This potential alliance isn't just a spectacle for the eyewear industry—it's a game-changer for how we envision the future of tech and fashion merging. Picture this: smart glasses that combine cutting-edge technology with high-end design. Why it matters: Innovation Surge: Expect sleek designs with integrated tech. Virtual meetings in style, anyone? Market Influence: Two giants joining forces means a powerhouse of resources, talent, and creativity. Consumer Appeal: Stylish AR experiences that blend seamlessly into everyday life. So, get ready to swap those plain frames for something extraordinary. The future is looking bright, and we might just need new shades to handle it. https://lnkd.in/gKE7GuFD #Meta #EssilorLuxottica #TechMeetsFashion #SmartGlasses #FutureVision #Innovation #BusinessNews

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🔴 Target’s store staff can now get help from an AI chatbot, instead of asking a manager 👇 US retail giant Target is rolling out a gen AI-powered chat bot, Store Companion, to team members across nearly 2,000 stores. 🤖 The AI companion will be accessible via handheld devices and guides workers through store procedures, from signing someone up for Target's membership program to troubleshooting cash register issues. Target believes this form of real-time assistance will improve efficiency & free up time of the staff to focus on serving customers. 😕 While the initiative promises increased productivity and - indirectly - more customer engagement, it also raises questions about potential downsides. Traditionally, workers would turn to a colleague for guidance but with Store Companion, there's a risk that organic, relationship-building moments will diminish and lead to a more isolated workforce, where team members rely more on tech than each other. 📊 A recent study found that 20% of employees ALREADY experience daily loneliness, rising to 22% among those under 35. 🤔 So what will the impact of chatbots like these have? ➡️ How will we ensure that efficiencies gained through AI don't erode staff interactions that contribute to a positive & productive workplace? #innovation #retail #ai #genai #future

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Fast fashion takes another punch to the gut. Luxury fashion reseller Vestiaire reports that fast fashion items are worn less, kept for less time, and have a lower resale value than resold luxury items. How about the best of both worlds? Quality, timeless pieces that are affordably priced. That's EXACTLY what we are at GoodRobe and Co. If you haven't shopped us yet, you and your closet are missing out. #capsulewardrobe #startup #founder #slowfashion https://lnkd.in/ec6gbjTS

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