THE FUTURE OF FASHION WEEK, DECIDEDLY DIGITAL

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KCD’s Digital Fashion Shows technology could mean the end of the ‘front row’ as we know it

KCD’s Digital Fashion Shows platform wins the approval of editors and designers, but does it pose the potential to negate the need for the press?

“I was dubious about the technology thing at first but it’s become the complete norm now,” declared British designer Roksanda Ilincic to Vogue UK, following the news that PR powerhouse KCD is to launch complete digital coverage of shows, debuting later this week at New York Fashion Week.

“I think digital fashion shows will definitely be a success,” she continued, “but on the other hand, it will be very different from when people actually see and feel the clothes at a show.”

For decades, the catwalk has been the fundamental place for designers to reach retail buyers, magazine editors and flaunt relationships with influential stylists and celebrities. Digital technology has more recently extended the reach of the runway to consumers and bloggers, whilst the Internet alone has facilitated rapid sharing of complete collections by both brands and the media.


“I think digital fashion shows will be a success, but it will be very different from when people actually see & feel the clothes at a show.”


That said, the most innovative digital catwalk projects have so far focused sharply on consumers. Burberry has led the pack with Runway to Reality (for VIP clients to shop the runway) and last season’s Tweetwalk (for the aspirational advocates on Twitter).

Dolce & Gabanna, Louis Vuitton, Viktor & Rolf and Gucci have all called upon live-stream technology to share their runways with the world, but aside from the selective but brilliant video coverage from Style.com, detail, craftsmanship, inspiration, beauty and construction are often issues left immediately overlooked.

This is all set to change should the fashion set embrace KCD’s Digital Fashion Shows platform, which co-president Ed Filipowski claims will provide “all the information and materials needed to review, cover and potentially buy the collection, just like a physical show.” Uncharacteristically democratic, the KCD model extends a front-row invitation to all invitation-only guests and behind the scenes access to match.


“The platform provides all the information and materials needed to review, cover and potentially buy the collection, just like a physical show.”


Designers pay $150,000 to $300,000 – the approximate cost of a small-to-medium-size show – to share their collection with its password protected guests, who can view the show on computer, tablet or mobile. Designers are required to display looks head-to-foot and provide detail shots, information on the clothes and beauty notes for the use of editors and buyers (WSJ).

The concept has already been celebrated by designer Paul Smith, who believes that the “idea allows a brand to say exactly what it wants to about its collection” and describe collections in all the details the brand feels necessary.

“Suzy Menkes might simply describe a ‘leather jacket’, while we can say what exactly it’s made of, and why it’s the most beautiful item in the world. I’ve struggled in the past with journalists getting it wrong – calling my prints ’computer-generated” when they were actually hand-painted fabrics, for example. So it would make quite a difference to be able to say it ourselves,” he told Vogue UK.

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Burberry’s Runway to Reality allowed VIP clients to order directly from the catwalk, on custom iPad technology within Burberry stores

Editors such as Vanessa Friedman (Financial Times) and Alexandra Schuman (Vogue UK) have also acknowledged its conceptual relevance, citing “economic pressures on magazines, newspapers and retailers” and the need to cover “a huge amount of collections” as key reasons KCD’s platform could become an industry staple.

Designers and editors alike have mused on the benefits the platform could have on the quality of coverage as well as product, particularly when it comes to autumn and spring pre-collections. Roksanda Ilincic explained it could curb the need for her brand to travel to New York to sell the pre-collection, a process that often delays work on the mainline.

Vanessa Friedman explained that digital coverage could put two pre-collections that currently run sporadically for two months “all in one place, to be viewed and reviewed as a whole in a way that has been impossible thus far.” But she then went on to wonder what this could all mean for the role of the critic, begging the question: “if editorial outlets can get all this information for free, why have a middleman?”


“The platform begins to negate the need for the press. These days brands can reach huge audiences via our own social media.”


Paul Smith concurred, suggesting that the platform “begins to negate the need for the press. These days we can reach huge audiences via our own social media,” he continued. “A brand need only put someone famous in its clothes and eight million people on Facebook can know about it immediately.”

It is doubtful the platform will change the structure of the fashion media in its formative years. Brands may relish the ability to tell their own story in great detail, but it is difficult to think any technology could rapidly replace the current system of press coverage based largely on attendance.

But in an increasingly digital media arena, the system certainly has the potential to enhance the richness – and accuracy – of content and ensure truly global coverage, unrestricted by the costs associated with fashion week travel. For young designers attempting to reach a large audience on a relatively small dime, it makes nothing but sense.

“There is an entire generation of people whose eyes are trained digitally – it’s how they view fashion,” explains Ed Filipowski. “We need to look at our industry and ask how we can cater to that, as well as maintaining the integrity and credibility of fashion while making our lives easier. This way, we can hopefully offer a creative way of offering a front row experience to more than just the usual elite few. This way everyone gets the fashion knowledge.”


To further investigate Fashion & Digital Technology on Luxury Society, we invite your to explore the related materials as follows:

Luxury Society Report: The Digital Agenda
Digital Leaders: Kamel Ouadi, EVP, NOWNESS
The Latest Digital, Chanel, Valentino & Montblanc
Augmenting Luxury Realities: Jonathan Chippindale, Holition


© Luxury Society, The Future of Fashion Week, Decidedly Digital, 6 February 2012, by Sophie Duran.


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LUXURY PROPERTY DEMAND OUTSTRIPS SUPPLY IN LONDON & MANHATTAN

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Located on a Penthouse floor in the Time Warner Center, this Manhattan property is listed with Sotheby’s for $60 million.

Looming economic uncertainty seems not to be affecting the high end property markets of London and Manhattan, instead the wealthy can’t seem to find enough property to buy

A “herd-like mentality” is said to have spurred luxury property buyers in the past several quarters, as the wealthy once again enthusiastically invest in hotspots like London and Manhattan. Despite forecasted economic storms and the liberal use of the words ‘debt’ and ‘crisis’, both locations are currently enjoying such a boom at the high end of the market, that demand has outstripped supply.

According to real-estate broker Savills Plc., the number of London houses and apartments that sold for more than 5 million pounds rose 31 percent to 262 in the nine months through September. Over in Manhattan, the supply of apartments for sale over 5 million dollars, reached the lowest level for an October since 2007. As Shari Scharfer-Rollins, SVP at the Corcoran Group brokerage puts it: “Inventory is down and demand is up.”

Christie’s recent State of the International Luxury Market report suggested that scarcity of property was driving up luxury real estate prices, particularly in top cities such as London, Paris, Hong Kong, New York and Beverley Hills. The report also went on to muse that sellers worldwide have adapted to a new reality in luxury housing and are beginning to accept that their residence is not going to command the same price that it might have in 2007.


“Market activity and optimism increased throughout 2011. Inventory is down and demand is up.”


Resultantly, market activity and optimism increased throughout 2011. Christie’s went so far as to identify ‘a lack of quality housing inventory’ as the biggest challenge markets were to face in the coming months. A sentiment this week echoed by Jason Haber, CEO of New York real estate broker Rubicon.

Speaking with Bloomberg, Mr. Haber revealed that his agents were now cold-mailing townhouse owners around New York City, to see if anyone might consider selling. “That’s not something you would do if the market was flush with high-end inventory,” he said of the strategy. “That’s a sign of the times. This is a ready, willing and able buyer and we can’t find the product for him.”

In London – albeit for varying reasons – luxury homebuyers are having similar troubles. The locals especially, following news that of the number of London houses and apartments that sold for more than 5 million pounds, overseas buyers comprised 65 percent. Knight Frank identified wealthy southern Europeans as buyers of properties worth at least 1 million pounds in London’s well to do Chelsea and South Kensington, generally as pure investments, second homes, or accommodation for children studying at university.


“This is a sign of the times. We have a ready, willing and able buyer and we can’t find the product for him.”


Investments identified as particularly timely by Philip Beresford, compiler of London’s Estates Gazette Rich list. “London is doing well on the back of the luxury market as the world’s billionaires flood in, either as investors in the property market or buyers of top end properties as bolt holes in these very uncertain times,” he revealed to Reuters.

Particular interest has been noted from Italy, Greece and Spain, where the wealthy are said to be attracted by the security and stability of the London property market, as well as liquidity and well-kept property registers. “We’ve got Italian and Greek buyers who have confirmed that view … They want to have money in a safe haven, preferably not a bank, or stocks because it is too volatile,” remarked Nick Candy, development manager and designer of One Hyde Park.

The 1 billion pound development is home to apartments ranging from £7 – £136 million pounds each, which are according to Mr. Candy, attracting interest from buyers currently experiencing instability in home markets. “We have a lot of viewings going on from any country that has got economic or political turmoil,” he told Reuters.


“ The dollar is weak and foreign buyers find that they can get more in New York City as an investment than they used to be able to ”


And then there is the issue of currency. Property agency Knight Frank recently revealed research suggesting that Chinese buyers benefited from a 24 percent purchasing power discount based on the Yuan-sterling forex rate between the peak of the prime London housing market in March 2008 and October 2011.

Chinese luxury home buyers were said to be leading a legion of “cash-rich non-UK investors” in search of upmarket London homes, with demand driven by currency exchange rates that produce discounts of up to a quarter on purchase prices. A similar tale unfolds across the pond in Manhattan, as Ms. Scharfer-Rollins confirms: “The dollar is weak and I think foreign buyers find that they can get more in New York City as an investment than they used to be able to.”


© Luxury Society, Luxury Property Demand Outstrips Supply in London & Manhattan, 21 November 2011, by Sophie Duran.


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