17 Tech Predictions, Tips, and Warnings From Fashion Leaders
From AI to the rise of new platforms, fashion brands of all sizes are preparing for an industry not ready for the upcoming speed of change.
This article is the final instalment of an 12-part series which collectively makes up The Next Big Bang: The Brand Universe Solution to Growth, the inaugural research thesis by edition+partners, distributed here on SOTA. In the ever-evolving landscape of brand development, the concept of a Brand Universe emerges as both a tangible entity and a strategic methodology, offering a dynamic approach to brand survival and growth.
Last week, in ‘Part 4: Orbiting Tomorrow’ we discussed how a Brand Universe’s ongoing success is underpinned by their capability to promptly adopt emerging technologies, exploit new platforms, and optimise team structures.
This agility consistently positions them at the forefront of their industry, ensuring they seize commercial opportunities as they arise and at large, remain ahead of the curve at all times.
In essence, a thriving Brand Universe is defined by its horizontal expansion into new industries, vertical growth through the attraction of diverse consumer segments, and its innovative approach to inspiring and selling to each group. However, genuine transformation occurs when brands adopt new technologies and platforms to revolutionise their entire value chain, including systems, team, and audience, rather than using them solely for superficial aesthetic enhancements or fleeting marketing successes geared towards viral trends.
This includes responding to the growing demand for co-creation, signalling a shift towards a more collaborative and inclusive brand-consumer ecosystem. By embracing co-creation, brands can empower consumers to actively participate in the brand experience, fostering deeper connections and enhancing brand loyalty.
We reached out to 17 brand founders, technology executives, and a lawyer specializing in the fashion industry to discuss their strategies for integrating technology into their businesses and identifying worthwhile investments.
Ian Rogers (Chief Experience Officer, Ledger)
“In 12 years from now 50% of all luxury purchases will be digital. If you asked me why I spent $5,000 on something luxurious I would say because I appreciate the craft, I love the aesthetic, I want to be part of the group. LVMH sells craft, belonging, art, a member of this tribe and not that tribe, they don't sell leather bags. The impetus for buying an NFT and a luxury watch are the same thing but it will take a lot of time.
The future of ownership isn't ‘next year real’, it's ‘in 12 years real.’ We always overestimate the importance of tech in the short term but underestimate it in the long term. Luxury has unlimited free distribution, but the luxury itself is limited. In the future, luxury will be both physical and digital so brands should still experiment now.”
Alice Delahunt (Founder & CEO, SYKY)
“When I was the Chief Digital and Content Officer at Ralph Lauren, we launched Bitmoji, Zepeto, and Roblox partnerships that are great examples of how a fashion brand can see success in leveraging digital platforms not just to sell, but to tell a story and build a community. It’s about creating a dialogue with consumers, where digital fashion becomes a medium for connection, not just commerce.