In a world where technology is the new common denominator, fashion brands are facing a challenge: maintain relevancy, keep a distinct DNA while innovating in the competitive yet fickle industry.
While technology can be advantageous, removing borders and easing accessibility, it can also be a hindrance for the more established retailers without an e-presence. Making the transition from brick and mortar to online powerhouse is no easy feat. There is no magic formula for developing an all-around lifestyle brand that stays true to its pre-internet roots. However, there are a few success stories that prove it can be done and demonstrate how.
Florentine etailer LUISAVIAROMA seems to have cracked the secret code of dominating the luxury online market. What was once a small shop started by Luisa Jaquin has flourished into fashion’s most thoroughly curated platform. Exclusivity and taste proved to be the cornerstones of the style pantheon with 600 differing gods/brands and 5 million worshippers/customers per month. Chief executive Andrea Panconesi knows that accomplishments of such epic proportions don’t happen overnight. Panconesi attributes LVR’s success to an unrelenting commitment to diversity, flexibility and yes… heritage. Since the year 2000, the company has ventured into philanthropy, art and home furnishing with their latest project being the Fashion & Technology Summit 2017: Trends of Tomorrow. The ideology of running a successful brand requires not just creating a connection but nurturing it. In an exclusive interview, Panconesi explains to me the allure of LVR’s website, the Fashion & Technology Summit and how they plan to grow.
Since starting in 1930, LUISAVIAROMA has surpassed being a retailer and e-tailer with a website that includes philanthropic opportunities, interviews and retrospectives on art. Why has the brand evolved into such diverse sectors?
AP: LUISAVIAROMA’s identity has always been rooted in diversity and industry expertise. Technology has enabled us to drive our distinct legacy into the digital age so that art and philanthropy continue to define our brand heritage. It has been a natural evolution to expand into other sectors that reflect our values.
What is the importance of showcasing such a variety of topics within the website?
AP: Our customers come to our website for interactive engagement that reflects the iconic experience of shopping at our store on Via Roma in Florence. The LUISAVIAROMA experience is somewhere between luxury shopping and visiting an art exhibition. Digital innovation has enabled us to share this on a global scale. We prioritize authenticity online and incorporate playlists, expert articles and choice visuals so that our immersive digital experience is as it is in our store.
Source: forbes.com