Innovation is more than a new idea, but a corporate lifestyle for fashion.
Newness in style counts, of course. And a new line of business counts too — Urban Outfitters Inc., for instance, has quietly developed a growth engine with itsInc.’s outgoing chief executive officer. Most pin his exit on the slowdown in the brand’s famed innovation engine, which led fiscal first-quarter revenues to drop 10 percent to $11.6 billion.
“I honestly think lots of people would say innovation and trying to solve hard problems is virtuous,” Ive said. “Of course, it’s a good thing. But many people don’t have the fortitude and don’t have the commitment to do that, and my intuition turned out to be correct in that commitment to supporting solving difficult problems was extraordinary.”But innovation takes something more than “fortitude” too.belief that it’s important to try new things.
For Pease, a company’s vision for the future has to prioritize how it’s going to remain relevant to its customers. “And the value in a brand is in the relationship, not the product,” Pease said. “CEOs often lose sight of that. Leaders lose sight of that. And let’s also say that the emphasis and the priority of marketing and brand building and true relationship innovation is often missing in companies. It’s innovation. It’s a holistic system.
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