The New Luxury Buyer: Younger, Richer and Well-Wired

NYT Dec 02, 2014)

When brands like Gucci, Louis Vitton, Dior and Prada are struggling to survive in a market where the luxury fashion market is actually growing, everybody should take notice.

That crowd is only going to get larger and more heterogeneous — both geographically and demographically, analysts say. By the end of this decade, the global luxury consumer base will probably reach 400 million people, according to Bain, and climb to 500 million by 2030. Most of that growth will be fueled by steady economic growth in emerging markets, particularly in Asia, as well as the proliferation of digital and mobile technologies that enable consumers and brands to connect with one another in new and different ways.

http://www.nytimes.com/2014/12/02/fashion/the-new-luxury-buyer-younger-richer-and-well-wired.html?_r=0#story-continues-4

A digital revolution, most large fashion brands seems to have a “status quo” attitude to, have occurred. Flag stores and private showrooms is getting outdated. They are time consuming and often too much of a bother for the busy new high tech generation of rich people.

A fantasy budget for marketing is no longer enough to keep a market position. Digital presence and availability is the new mantra. The only question is; who will trigger the wave of change?

ItsMeSee is developing technology solutions for digital excellence. We are seeking luxury fashion brands and investors for our Pilot project.

Please contact us at: iva@itsmesee.com

Our blog, for more information: http://www.itsmeseeblog.com/

Why Major fashion is dying so fast

In this article about Ralph Lauren you can read how the brand is falling in value and keep losing customers. Their relatively new CEO Stefan Larsson quits with following statement from Ralph Lauren himself:

We have found that we have different views on how to evolve the creative and consumer-facing parts of the business”.

“Larsson’s departure will come as a surprise to many, at a time when the company is attempting to inject more excitement around its clothing and products, known for their preppy styles, to attract younger consumers and move away from its reliance on wholesale and heavy discounting”.

The thing is, almost no young people today even know who Ralph Lauren is. Why is that?

I believe it has a lot to do with the transition into the digital age. People are doing everything online, both browsing and shopping fashion. There was a time when people was reading fashion magazines on paper or watched movies on TV, everything heavily saturated with branding commercials. Now, paper magazines as well as the value of TV commercials have dropped like rocks as people are changing to online articles and streaming Select Movies and TV programs.

Old-School brands are falling into oblivion as they cannot use location or pure marketing muscles to keep their brand valuable for the young consumer. If you Google Ralph Lauren, you will find lots of 70% discounts and not much else of interest.

Ten years from now, the value of a brand name will be synonym with the quality and absolute adaptation to all the possibilities of the digital media. It will not be enough to take traditional photos to create a digital version of a paper catalogue, as most do today. As a consumer you will expect a brick and mortar experience, with Artificial Intelligence helping to find your ultimate choices in a thousandth of a second from tens of thousands of fashion brands from all over the planet. A system that adapt to you and instantly show the best possible combinations for your look, taste and wallet. Today’s hunt and gather solutions will be consider as obsolete as it is when it comes to your everyday food consumption.

The future belongs to those able to see and to adapt.

If you are a designer, brand owner or investor, who understand what we are talking about and want to join us , please send an e-mail to: iva@itsmesee.com

For more information about our project, read these articles:

USA Today

JustStyle.com

Apparel Insider (p.18)

The future of fashion is digital technology

For the most part it’s about keeping pace with today’s consumer, a consumer
with an attention span of maybe two or three months rather than years, as
in the past.

There are literally billions of online digital devices out there
today.

Even if the consumer is planning on going to a bricks-and-mortar
store, they almost always browse online first,” says Alf Dagsvold, founder of
the Norwegian company ItsMeSee, an interactive 3-D browsing platform for
consumer fashion. “To survive, the wholesaler and retailer have to take this
into consideration. It is not enough to have an online presence. It has to be
much more consumer-centric and use the digital possibilities with all their
potential.”

It seems a digital footprint is the only way to accurately ensure longevity
for your brand. “Ten years ago, advertising had much stronger channels
to the consumer than today,” continues Dagsvold. “Advertisements in
magazines, on TV, and the Internet were largely unavoidable for the
consumer. It is not so anymore as you can record programs and let the TV
filter off all commercials before seeing them, and there is also streaming
with no commercials at all. Pop-ups and ads can easily be blocked in
browsers. Reach and impressions used to define how well an advertisement
was going and how many eyeballs it got. Over the last few years this has
changed drastically. Now it is about how much the consumer engages with
the product that defines the success of marketing. Product presentation, in
useful, engaging tools, where the consumer has all the control, is the only
way to be around the next 10 years.”

To this end, Dagsvold and his team put consumers in the central, primary
position, allowing them to virtually try on any combination of apparel for look
and fit. The combination of technology used makes the system smooth and
user-friendly. “The digital representation with exact individual body shape
and measurements creates a highly personal experience,” says Dagsvold. “This
gives consumers an opportunity to freely create their own looks but also the
option of receiving automatic styling suggestions from an evolving, adaptive
system.”

Brands working within the system have a prototype showroom that allows
them to see how consumers are engaging with their wares. Once that’s
determined, they can move the product to the Web store. “What we offer
is the opportunity to test products before starting large, costly production.
Plus, they then have a captured audience waiting,” says Dagsvold. “Regardless
of how good products are, getting to market is often extremely challenging
for someone just starting up. There are buyers, wholesale agents, and store
owners who are basically gatekeepers to existing infrastructure. Unless the
emerging designer is already quite wealthy, it can take years and years to reach
a broad audience. A personal Web store is often not a very good option as it
is very difficult, time-consuming, and costly to generate traffic. We want to
offer talent a real opportunity to prosper, without large upfront investment.”

It all comes back to Matthew Klein’s cloud-based PLM: “A digital footprint,”
he says, “if you’re not doing it, guaranteed your competition is.”

https://apparelnews.media.clients.ellingtoncms.com/news/documents/2016/08/11/AI081116_online_1.pdf

We are seeking fashion brands for our Pilot project. Please contact iva@itsmesee.com for more information, or write a comment below.

3 things you need to succeed as a fashion designer

How can you succeed as a fashion designer?

Well, first of all, you need a huge amount of people to see your designs. Second you need a LOT of money! Third, well there is no third, that’s it.

Let me explain: if you can reach a lot of people and have enough money, you can market and sell just about any crap you can think of. This is the reason sports idols, movie stars, musicians and all kind of famous people start their own clothing or accessories lines and are successful with it. They have the money needed to hire all kind of people with different qualification to work for them, do what they cannot do (which is just about everything) and the media will write about it.

How to succeed only by making quality fashion?
Most fashion designers are really passionate about their creations and want as many people as possible to see, try on and use what they make. Wearing their own designs, walking down the street and have strangers stop them, asking where they have bought their clothes or accessories, it’s the definition of a good day.

The problem is, designers are designers. They are not marketing people, business people, logistical specialists, financial planners, negotiators, CEO’s, accountants, media specialists, SEO specialists or any of the long list of qualifications you need to succeed as a fashion designer.

There are other ways to succeed, but they require unique opportunities, like you see in movies where Cinderella is “discovered” by a prince, who chase after her with only her shoe as a clue. Otherwise you need years and years of hard work and dedication, start really young and will be quite old before you make ANY money at all.

ItsMeSee is simply a way of letting people all over the world try on clothes and accessories. Through our disruptive use of technologies we help independent designers and brands compete with the largest brands in the world on their level.

Using the attention our technology is already getting we draw a large audience to designers and brands working with us. People can try on their designs, like they do in physical store, but with lots and lots of interesting products from designers and brands they normally will not have access to. We apply tons of fun stuff into the presentation and makes the whole experience individually adaptable for each user. Stylists from all over the world will create outfits from different brands and designers, making something truly unique and interesting.

The technology is only a backdrop; the stars people will see is the designers and the products they have, presented in a new and interesting way. We want to build a long term relationship with the best and will offer all ambitious and talented designers an opportunity to reach a global audience through the hub we are already creating.

You will not have to negotiate with store owners or do compromises with your designs to make it fit into someone else’s idea about what should be the fashion this year. You don’t need to be accepted or pay dearly for participation in trade shows where you meet middlemen who might or might not like your designs or buyers who push down your profit below zero before they offer to sell on commission for you.

Let’s cut out these middlemen and allow the consumer decide whether your designs are worth buying or not. This is the way it should be and this is what we offer through our campaign and the channel we are developing for fashion designers and brands. Good design sells itself if all the right customers are able to try it on for fit and look.

If you are a fashion designer, blogger, work in any media or might want to invest, feel free to contact us at:
iva@itsmesee.com

We will try to answer any question you have.

For more information, please check out our blog:
http://itsmeseeblog.com/2014/07/06/to-fashion-designers-and-brands-interested-in-our-project/

LinkedIn group: ItsMeSee – https://www.linkedin.com/groups/8144306

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Network is absolutely essential if you are going to succeed in the very competitive fashion industry.

Ralph Lauren started by designing mens ties: “I didn’t know how to make a tie,” Lauren confessed to Vogue in 1982.

History of Polo Ralph Lauren

“I didn’t know fabric, I didn’t know measurements. What did I know? That I was a salesman. That I was honest. And that all I wanted was quality.” Lauren’s ties were wider and more colorful than other ties on the market and they soon found a niche, first in small menswear stores and later in the fashionable Bloomingdale’s department store.

The Polo empire began in the late 1960s, when Lauren, then a clothing salesman, got sick of selling other people’s neckties and decided to design and sell his own. Lauren had no experience in fashion design, but he had grown up in the New York fashion world, selling men’s gloves, suits, and ties. In 1967, he went to his employer, Abe Rivetz, with a proposal to design a line of ties, but Rivetz told him, “The world is not ready for Ralph Lauren.”

Within a year, Lauren decided to form his own company with help from his brother Jerry and $50,000 in backing from Norman Hilton (Ralph Lauren’s first investor), a Manhattan clothing manufacturer.

The company, Polo Fashions, Inc. (which changed its name to Polo/Ralph Lauren Corporation in 1987), expanded the Polo menswear collection to include shirts, suits, and sportswear, as well as the trademark ties.

In a rare move, Lauren then began designing clothes for women as well as for men. His first designs–men’s dress shirts cut for women-met with great success in 1971, and soon sales topped $10 million.

Network is absolutely essential if you are going to succeed in the very competitive fashion industry. If you do not have an Ivy League employer with 150 years history in the fashion industry, willing to back you, success may take very long to accomplish.

ItsMeSee offers an unfair technology advantage to brands willing to stand with us.

www.itsmeseeblog.com

Please contact iva@itsmesee.com for more information.