Social Media Bringing in Sales
The category posted growth in retail market share for the first time in nearly three decades, and it just might have something to do with innovative digital strategies, according to Scott Galloway, New York University marketing professor and co-founder of NYU think tank Luxury Lab, which released its second annual Digital IQ Index ranking specialty retailers according to their online competence.
Macy’s took the top spot, with Victoria’s Secret, Nordstrom, Sephora, Urban Outfitters, Threadless.com, Bluefly, Bloomingdale’s, Gilt Groupe, Net-a-Porter and Pottery Barn following.“To be at the top of the pack, you have to make investments in social and mobile. You have to be at the forefront of digital investments,” Galloway said, adding the findings mimicked financial performance, indicating that companies investing in digital mediums are increasing shareholder value.
Esprit Changes it’s Lineup
Esprit is consolidating its different apparel brands into a single moniker in an effort to simplify the assortment for consumers. Esprit’s brands include women’s casual, women’s collection, de.corp Esprit Urban Casual and edc by Esprit, with each brand multiplied by 12 for the number of collections produced each year. There’s the same dizzying array for men, and kids have edc youth by Esprit, Esprit shoes and ESP Esprit sports.
“In the past, we had all these different brands,” said John Gunn, continental president of Esprit North America. “A lot of customers didn’t know the difference between the names. We tried to target an overlapping and different clientele. Edc was for an 18- to 24-year-old customer. Our target consumer is now a woman who is ‘forever 30.’ Now the brand will be saying the same thing to all women. In the past we were even using different size blocks. Nine months from now, we’ll be totally aligned — one brand direction. Some brands are still a little bit off on their own. It’s a completely different mind-set from what we were used to in the past.”
L’Oreal Switches Key Positions
Geoff Skinsgley, formerly managing director of human resources for Paris-based L’Oréal, has been appointed to the new position of managing director of the Africa and Middle East zone. L’Oréal said the new position is part of the company’s strategy to accelerate its expansion in countries with “high population growth rates and significant long-term economic potential,” which in turn is part of its plan to acquire one billion new customers in the next 10 to 15 years.
Jerome Tixier will succeed Skinsgley as managing director, human resources. Tixier’s previous position was adviser to the chairman, in which he will stay until his new human resources position becomes effective Oct. 1.
Source & Photo WWDSee the Top Ten Summer 2016 Trends for Women Over 40