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Lyst Series C raises $40M with help from LVMH fund

Street style photo used in Lyst outdoor campaign Fashion ecommerce platform Lyst has raised $40 million in a Series C investment round that included contributions from LVMH controlling shareholder Groupe Arnault. The additional funds will be instrumental in Lyst’s global expansion of its universal shopping cart, which allows consumers to purchase from multiple retailers in one transaction. Lyst is seeing transactions from hundreds of countries, and the platform has grown

Consumer-centric culture makes every individual a brand: Interbrand exec

Burberry ad campaign image featuring Heritage Trench Coats NEW YORK – A brand is a living entity constantly adapting to external forces, according to an executive from Interbrand at the Luxury Insights Summit 2015 April 29. The current landscape is consumer-centric, and each individual person will play an active role in shaping brands and deciding which fail or thrive. To be successful, brands will need to focus on creating value and

Mobile phones most personal way to reach consumers: Havas Media exec

Luxury brands are increasingly using mobile marketing to engage consumers NEW YORK – Brands have become obsessed with technology, but oftentimes forget the consumer in the equation, according to an executive from Havas Media at the Luxury Insights Summit 2015 April 29. Marketing tactics have remained relatively similar for decades, but the medium it is presented on has changed. Adjusting to integrate technology at the core of a business is

Luxury market bigger than typical delineation, claims Shullman Research founder

Lexus’ NX Turbo NEW YORK – Luxury marketers disregard the broader marketplace at their own peril, according to the founder of the Shullman Research Center at the Luxury Insights Summit 2015 April 29. The executive warned luxury marketers against focusing exclusively on the ultra-affluent. Indeed, an enormous amount of sales come from mass market consumers who are rarely marketed to. “The American luxury marketplace is bigger than many luxury marketers currently

Unifying sales channels enhances consumer experience: Boston Retail Partners exec

Promotional image for SaksStyle NEW YORK – While retail has evolved with additional sales channels, the black book of client information has remained largely unchanged, according to an executive from Boston Retail Partners at the Luxury Insights Summit 2015 April 29. Providing a high-quality shopping experience requires knowledge of a consumer’s wants and needs, which can be aided and supported by technology. Centralizing consumer information and implementing systems that can

Freedom’s multidimensionality informs luxury consumers: McCann panel

Apple Watch NEW YORK – The idea of luxury changes depending on who you ask, but a few core pillars tend to emerge, according to a McCann Truth Central panel at the Luxury Insights Summit 2015 April 29. The “What is Luxury? Exploring Affluence, Exclusivity and What’s Next” session looked at the inherent atomization of the luxury industry across sectors and some emerging trends. Context reigns when discussing luxury, and brands