Experts explain how fashion brands can reclaim their experimental edge.
“In order to be irreplaceable, one must always be different.” As well as uttering these famous words, Coco Chanel made clothes that demonstrated just how true they were. It’s strange to think that the little black dress and women’s trousers were once thought shocking, until Chanel took the risk to experiment. In so doing, she challenged traditional perceptions of women’s clothing and their role in the world and created one of the most desirable brands on the planet.
Ten years ago, this would have been a fantasy, but our world has evolved. Every second, Amazon makes an update to its web site; every week, Asos launches new products and services. For this new generation of tech-driven companies, embracing a fast and agile working model is as important as embracing technology as a driver of success.
So, how can fashion companies harness the fearless, creative spark of Coco Chanel and apply it to their businesses — building hyper-relevant relationships with their consumers — today? And how can business leaders and their innovation teams become bolder, faster and more successful in the experiments that they run?To experiment successfully, businesses need to move at pace — to seize the opportunity presented by a new market or to simply keep up with customer preferences.
Becoming a living business is no small undertaking. At a high level, it involves becoming more responsive to new opportunities, scaling alongside an ecosystem of partners, embedding customer-first thinking and design, and building more intelligent marketing and sales experiences. The alternative is to risk losing relevance among your customer base.Fashion has long been a pioneer of innovation, as the experimental mindset and risk-taking of Coco Chanel and others makes clear.
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