Digital Innovation Describing itself as an “online
shopping community,” Motilo provides a way for people to shop together in real time using the interactive features of the internet. So while people come for the streamed fashion shows and designers´ blogposts, many then create their own fashion profile for others to see. It’s all very early stage as of yet, but creating a profile to come back to every day worked for Facebook and Pinterest. In theory, creating a profile has far more utility when done in a niche area.
Then we have Asos about whom The Guardian wrote “How Asos took over the world.” Standing for “As Seen on Screen,” Asos is 13 years in operation, has over 1,000 employees and had revenue in 2012 of £515 million (€600m). Official figures state they have 4.38 million active customers from 160 countries. Outside of the UK, the next countries they prioritise are France and Germany.
Disruptive Innovation story
It´s a typical in that
they started very simply by monitoring what celebrities were wearing and then moved up the value chain. Nick Robertson, the company founder and CEO, claimed to have had the idea when he heard that 25,000 viewers had telephoned the Friends TV show to ask how to get their hands on the clothes the characters wore. Steadily, Asos has moved more upmarket to establish itself as a designer brand with Asos Black (evening wear), Asos White (more daytime) and Asos Green Room (ethical fashion). Coming next is Fashion Up, a mobile only magazine pitched at the 20% or so of their customers who access the site using a mobile device. Bestseller, a Danish retailer whose brands include Vera Moda, Jack & Jones and Mamalicious, now own 28% of the company, clearly with an eye on not being held to ransom if retail really does get eaten.
Free Culture
The great unknown is how permanent will the trend be to shun away from shopping malls and towards celebrity engagement via social media, followed by online purchase. Also,
is there really a move away from centres of low
Net-A-Porter started when founder Natalie Massenet (pictured, right) picked up an “Are you an entrepreneur?” leaflet in a Barclays bank
cost production to a more on-demand system once a piece is ordered? While copyright disputes hinder innovation in books, film and music, fashion has a free culture where the concept of Intellectual Property is mostly unknown. This spurs innovation and sales even if those of you that have read the Roberto Saviano book Gomarrah will have seen a darker side to what our celebrities wear. The other new force will be from the
centres of low production themselves, where a generation who once made the clothes will look to design them as well. Will Milan, Paris, London and New York survive as the centres of world fashion? It could very well be that this will depend as much on the start-up kids coming through as on the designers themselves.
23 entrepreneurcountry
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