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NEW YORK — Whats up from New York Metropolis the place our group staged one other profitable BoF Skilled Summit on Friday, this one analyzing how briskly rising applied sciences like generative AI, web3 and spatial computing are reshaping style. Gathering with our neighborhood at occasions like it is a key a part of BoF’s mission to open, inform and join the worldwide style, luxurious and sweetness industries.
It’s been simply over 11 years since we first started our journey as a enterprise and this week introduced essential world recognition that I’m delighted to share with you: The Enterprise of Style was named one of many “World’s Most Modern Firms of 2024″ by Quick Firm.
That is an honour we first held in 2015, when BoF was pioneering what a world digital-first style media firm could possibly be. The truth that, 9 years later, BoF continues to be recognised for being one of the vital modern firms on the earth, is a testomony to the imaginative and prescient and arduous work of our unbelievable group who’ve stayed true to our mission whereas experimenting with new applied sciences like synthetic intelligence to additional construct a sustainable enterprise in a difficult media atmosphere.
The Quick Firm article accompanying the accolade particularly highlights the modern work being executed by BoF Insights, our knowledge and advisory suppose tank, which lately created The BoF Model Magic Index, powered by Quilt.ai, which ranks luxurious and style labels utilizing AI-driven evaluation of tens of hundreds of social media posts.
“The rating confirmed how synthetic intelligence might help style manufacturers measure worth, not simply attain, whereas demonstrating how a media model can leverage AI so as to add reader worth somewhat than erode belief with AI-written information articles,” wrote Quick Firm’s Nicole Laporte. “Utilizing an AI software powered by Quilt.AI, the examine analysed greater than 70,000 social media posts over three months to see how carefully a style model’s id mirrored its audience.”
You’ll be able to see this similar dedication to innovation and excellence in our day by day evaluation, recommendation and insights from BoF Skilled. Our luxurious beat helmed by luxurious editor Robert Williams had an particularly busy week with the bulletins that Dries Van Noten is stepping again from his namesake label, Pierpaolo Piccioli is leaving Valentino, Kering is anticipating a 20 % gross sales drop at Gucci within the first quarter and Hermès is going through a class-action lawsuit for allegedly requiring customers to purchase objects from different product classes earlier than they’re allowed to purchase a sought-after Birkin. And editor-at-large Tim Blanks examined the “triumph, tragedy and cancellation” of the late designer Claude Montana, who was buried at Père Lachaise in Paris on Friday morning.
Over at The Enterprise of Magnificence, helmed by government editor Priya Rao, we dissected the information that Selena Gomez’s Uncommon Magnificence has employed Goldman Sachs and Raymond James to discover exit choices, together with a possible IPO; examined the success of Sol de Janeiro past its best-selling Bum Bum Cream; and introduced the launch of Sisley’s first new model, Neuraé.
And that’s simply luxurious and sweetness! In sustainability, chief sustainability correspondent Sarah Kent examined the importance of a brand new French invoice that, if handed, would tax quick style like cigarettes and on the retail beat Daniel-Yaw Miller defined what the return of founder Kevin Plank means for sportswear large Underneath Armour.
As Quick Firm wrote, “BoF’s regular stream of business information and knowledge, has made its personal model indispensable to the 640 style and sweetness firms that subscribe to BoF, together with greater than 100,000 paying members in 2023.”
I’d prefer to congratulate our whole group for this important recognition, and want to thanks, our world neighborhood, for supporting our journalism. We can not do the work we do with out your continued assist. In case you’d like to hitch our membership neighborhood please subscribe right here or contact us for those who’d prefer to be taught extra about group or company-wide subscriptions to BoF.
This Weekend on The BoF Podcast
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As efficiency coach to England’s nationwide soccer group, the Royal Ballet and lots of extra successful groups, Owen Eastwood faucets into his Māori heritage to assist teams foster a way of togetherness and drive efficiency.
I first realized of Owen’s work from Tim Brown, the co-founder and chief innovation officer of Allbirds, an organization which has been on a rollercoaster of ups and downs because it went public in 2021.
This week on The BoF Podcast, Tim and Owen be part of us to look at Owen’s highly effective strategy to creating excessive efficiency groups.
Imran Amed, Founder, CEO and Editor-in-Chief, The Enterprise of Style
P.S. Be a part of us subsequent week on 26 March at 16.00 BST / 11:00 EDT for a BoF Skilled Masterclass that explores the subject of one in every of our newest Case Research, “The Artwork and Science of Retail Retailer Success.”
Plus, listed below are my different high picks from our evaluation on style, luxurious and sweetness:
1. Can Gucci’s Turnaround Plan Nonetheless Work? This week, Kering flagged gross sales have been down 20 % at its flagship model, knocking confidence within the group’s turnaround technique. ‘A extra drastic answer is required,’ one analyst wrote.
2. Pierpaolo Piccioli Is Exiting Valentino. A brand new inventive configuration will probably be introduced quickly, the Roman couture home mentioned.
3. Dries Van Noten to Step Down. The Belgian designer will step down as inventive director of his namesake style home following its June menswear present, he introduced in a letter to style editors Tuesday.
4. Case Examine | The best way to Flip Information Into Significant Buyer Connections. Earlier than style companies can put synthetic intelligence to work or goal the appropriate customers on-line, they want good knowledge and a deep understanding of who their prospects are and what they need. This case examine affords a information for manufacturers that need to actually know their buyer, permitting them to make smarter choices that serve customers and drive outcomes.
5. What Would Occur if Style Have been Taxed Like Cigarettes? France is urgent forward with a ‘game-changing’ invoice that will impose a ‘sin tax’-style penalty on fast-fashion merchandise as excessive as €10 per merchandise by 2030.
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