One of my friends in San Francisco tells a funny story about his friend, “Tony” who was starting a new dotcom.
Tony: Hey dude, I invested in your business; how ’bout you invest in mine?
My friend, whose own internet biz is no slouch: Sure, Tony. What kind of business?
Tony: It’s an online shoe store.
My friend: No thanks, man. That’ll never work.
Sometimes we miss the boat
The rest, as they say, is (billions of dollars of) history.
In an amazing move, luxury brand Oscar de la Renta launched F-commerce (Facebook e-commerce) that encapsulates an entire transaction for the customer without leaving the FB interface.
As luxury brands were notoriously slow to adopt the interwebs in the first place, this is a pioneering move from a brand that really isn’t that accessible to the mass market.
Interestingly, they chose a relatively low-priced item (a $65 perfume ring) that could have more mass appeal than, say, a cocktail dress that might set you back three grand or more, depending on its detail.*
You, too, can own ODL for only $3000 at Neiman's. Contrast that with a $65 ring on FB.
First, go here to read the article on Mashable, “3 Ways Digital Innovation Can Make Luxury Brands Exclusive Again.”
If you don’t want to do that, here’s a quick summary:
Duke Greenhill writes about three technologies that he believes will create exclusive consumer experiences to tap into the increasing number of luxury consumers who shop/spend time online.
His top three technologies are:
One of my first fashion shows ever was Betsey Johnson. I was a student at Parsons. The shows were still in the tents at Bryant Park. Even post-9/11 we snuck in without badges or invitations and managed to finagle seats (which included goodie bags).
The Coaching Collective and Lauren Fritsch honor three time INC 5000 honoree Lohmann Technologies. The Coaching Collective has worked with Lohmann for three years.
In our industry, we talk a lot about human capital. You know, the tangible and intangible value of the people who make up enterprises that produce goods and/or provide services for economic return.
Training, education and health benefits are all considered to be the investments we make in human capital, and they’re all positive things.
Except something about the words “human capital” really rubs me the wrong way.