This week we talk about Prada’s iPad app release “Il Palazzo”, whether fans of luxury brands’ Facebook pages are active social network users, and the rise of the male fashionista.
As part of a multi-platform project Prada have released their new iPad app – Il Palazzo. By downloading the free app visitors can explore the palazzo’s magnificent interior and discover Prada accessories, as well as portraits by artist Richard Haines, as they wander through the space. This virtual interactive tour aims at aligning the brand with the art world, and by association, a luxury lifestyle.
Business of Fashion
At the Decoded Fashion conference in London, Facebook’s Tracey Yaverbraun talked about whether high net worth individuals really are active users of the platform. As Director of Retail, Luxury and Fashion Partnerships Yaverbraun dispels the myth that it’s only fans of luxury rather than buyers following brands on Facebook.
As sales of luxury jewellery and watches boom clever fashion brands diversify to tap into the new market and ensure sales stay healthy. This move is especially significant in the emerging luxury territories like China and India where jewellery and watches are highly prized status indicators.
A new type of consumer has emerged – the male fashionista. As likely to keep up with the latest style blogs as any woman, he’s an avid follower of the latest collections and demands the latest looks straight off the catwalk. All of which is great news for brands and retailers like Selfridges who have just revamped their menswear floor and now boast the biggest men’s shoe department in the world, containing more than 72,000 pairs.
A lot of people’s industry yardstick, Burberry, is raising its prices and eliminating some entry level lines in a bid to increase its luxury image. In a difficult market where only the extremely affluent are guaranteed of having enough spending power it was noted that sales of higher-priced lines like Burberry Prorsum sold well in comparison to less expensive lines.