Moncler ditches catwalks – prefers selfies
Moncler, the French-Italian outerwear brand known for its fashionable €1,000 puffer jackets, has decided to ditch its twice-yearly catwalk shows. The reason? Smartphones and social media have revolutionized the fashion industry – young consumers have an “instant” mindset – they want to know what’s current right now… not what was current months ago. Hence, catwalks no longer hold the sway over fashion that they once did: today, the lag time between high-fashion and high-street has all but disappeared.
Moncler’s share price is up by 41% so far this year
SOURCE: Yahoo Finance
The brand’s founder and CEO, Remo Ruffini, complimented the “amazing job” his designers had accomplished turning Moncler into a globally desirable brand worth $6 billion. Nevertheless, he believed that consumers’ changing shopping habits required a “new and different energy”.
That energy will appear in the form of “one-off spectacular” events that “target social media”. The first of these, a “flash art” event in Hong Kong this week, will include 12,000 Moncler mascots in differing parts of the city. Ruffini says it has been designed with social media, particularly Instagram, in mind.
Ruffini explains the strategy behind this move, saying: “I believe in creating a new energy for the consumer at the sales points and communicating as fast as possible.” Hence, the new Milan flagship store is designed to feel like an Alpine chalet, rather than a shop.
Dominion holds Moncler in its Global Trends Luxury Fund.
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