A roundup on how digital is transforming our life and business – both in China and the rest of the world through November 12th.
The Left Shoe Company: Old Craftsmanship and New Tech, from Business Of Fashion
The London outpost of Finnish upstart The Left Shoe Company is located in a jewel-sized store in Princes Arcade, a covered shopping arcade that runs between Piccadilly and Jermyn Street in one of the British capital’s smartest shopping districts, known for its men’s shoe and shirtmakers.
At the store, customers can order made-to-measure shoes, selecting from six different sole options and 20 different upper variations, available in a wide range of colors and materials, from leather and suede sourced from Italy to exotic skins like stingray and alligator, sourced from Taiwan and Paraguay, respectively. The shoes are designed by Maurizio Mazzucato, who works with some of Italy’s largest fashion houses.
Alibaba’s Tmall Sees $500 Million spent in First 20 Minutes, from Tech In Asia
It has just turned November 11 in China, commencing the nation’s craziest day of online shopping discounts and spending. It’s called 11/11. At Alibaba HQ, China’s top e-commerce company is watching its consumers spending in real-time in what I like to call its ‘big data’ war-room. Alibaba’s Tmall, its open marketplace for merchants, saw $177 million spent in the first six minutes. That leapt to $266 million (RMB 1.64 billion) after the first ten minutes, and then to very near $500 million (RMB $3.021 billion) at the 20-minute mark. (UPDATE: After the first 50 minutes, $1 billion has been spent).
In the hour before midnight, Alibaba representatives said that six million people had put items in their virtual baskets, awaiting the start of 11/11 and for the discounts to become active. More than 20,000 merchants on the Tmall online marketplace – from small businesses to major brands like Uniqlo – are taking part in the sales day.
How to Set up a Fashion Business from Scratch via e-Commerce, from Business Of Fashion
It’s no secret that the web has become one of the most effective tools for fashion brands to market and sell their wares. According to market research firm Emarketer, online sales of apparel and accessories are now growing faster than any other e-commerce product segment (20 percent per year).
By 2016, the category will account for $73 billion worth of online purchases in the US alone, just over 20 % of all online retail sales. And while young fashion brands will always need to maintain offline touch points where customers can touch, feel and try on product, seizing the e-commerce opportunity is equally crucial to long-term success.
Cartier CEO Stresses Importance of Carefully Curated Digital Presence, from Luxury Daily
The North America chief of French jeweler Cartier at the L2 Forum 2013 said that while the brand is investing heavily in digital media, the house proceeds with caution when applying a new social media tactic, keeping in mind the brand image and long legacy.
While other brands jumped on Facebook and began posting a lot of content, Cartier decided to test the waters first, only posting one item a month out of worries that fans would tire of seeing multiple posts from them. During the “A Conversation with Prestige CEOs” session the Cartier executive said that the jewelry brand has since raised the frequency of its social media postings, but still keeps a tight hold on its presence online.
Printemps Sets E-commerce Strategy, from WWD
Absent from e-commerce until now, Printemps said it hopes to generate at least 10 % of its sales from the channel within three to four years.
“We believe the French market is at a tipping point,” Printemps chairman and CEO Paolo de Cesare said. “Customers want to have an experience online, and in a physical store.”
Last month, Printemps acquired French fashion e-commerce site Place des Tendances from media firm TF1 Group, and de Cesare said it would be its main vehicle in the online world.