Plus, Beautycon is about more than free makeup samples.
These are the stories making headlines in fashion on Friday.
Vogue goes inside the world of Tom Ford
Rob Haskell visited Tom Ford‘s rose-covered estate in Los Angeles for the September issue of Vogue to talk to the infamous designer about taste, his CFDA agenda and what fuels the fashion industry. During the interview, Ford also opened up about bringing his unabashed sexuality to the runway, and how the #MeToo movement has forced him to think carefully about his branding. “I wouldn’t shave a G into somebody’s pubic hair anymore,” he said. “Political correctness has become fashion correctness, and you almost can’t say a thing about anything.” {Vogue}
How predictive technology is improving inventory management
The survival of fashion brands is determined by how well they are able to balance supply and demand. And while there are plenty of ways to manage inventories, such as speeding up the production cycle to be more responsive to shifts in demand, a growing number of companies are using predictive technology to figure out exactly what their consumers will buy next. This technology deploys artificial intelligence and uses data as diverse as historical sales numbers to global trends to predict how different styles of clothing will perform in various markets, or even individual stores. {Business of Fashion}
Beautycon is about more than free makeup samples
Beautycon, the business-to-consumer cosmetics summit that sells out to crowds of 15,000 makeup fans, has evolved from an Instagrammable event with endless free lipstick samples to a festival that boasts performances and high-profile conversations about financial literacy and women in business. Its latest initiative aims to provide opportunities and resources to young entrepreneurs. {Fast Company}
Meet the editor-influencer
With money flowing out of the fashion and beauty media industry, several cash-strapped editors are dedicating more of their efforts to growing their personal social media followings as a way to cash in on the $6.5 billion influencer marketing space. Some are doing very well for themselves and making as much as $1,000 for a single Instagram post and $10,000 for a brand campaign. But with editor-influencers, there’s a question of ethics: How can editors remain unbiased in their magazine or editorial work if they are accepting pay — or free product and trips — to promote a brand on their social media platforms? {WWD}
What happens to luxury fashion during a financial crisis?
The luxury industry is more prepared for a recession than they were a decade ago, thanks to better inventory controls and less dependence on third-party retailers. But the 2008 financial crisis did leave a long-lasting impact on luxury fashion, which we are still experiencing today: Designs are still more minimalist, and more democratic styles, like streetwear, are still popular. {Vogue Business}
Why retailers continue to court Gen Z
Retailers have become fixated on courting Gen-Z shoppers, when Baby Boomers still have the most buying power. The reason they are chasing the TikiTok-obsessed demographic is that it can lead to bigger returns down the line. “The value of a lifetime customer is four times higher than a conventional non-lifetime customer,” said Martin Lindstrom, brand expert and author of several books, in an interview with WWD. {WWD}
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Source: Fashionista.com
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