LSN : News : Fintech for the circular economy

Louis Vuitton’s LinkedIn live-stream democratises luxury fashion

Louise Vuitton Women's Spring/Summer 21 Fashion Show, Paris

Paris – Luxury retailer Louis Vuitton is taking a creative approach to the challenges posed by Covid-19, opting to live-stream its physical fashion show to LinkedIn.

Rounding off the spring/summer season in Paris, the brand posits an experimental future for catwalks while maintaining the experience of a physical location. Alongside a select number of in-person attendees, the show – held at iconic Parisian store La Samaritaine – integrated individual cameras with a 360-degree view, each representing a digital guest. Throughout the building, green screens allowed for trapeze artists, magicians, and other images to be projected into the space – resulting in a phygital experience curated for both in-person and virtual attendance.

'A lot of new windows and perspectives are opening,' said Nicholas Ghesquière, creative director at Louis Vuitton. ‘It’s another step towards globality, and I guess that’s absolutely necessary. We’ve sometimes made people feel excluded. So probably, it’s a way to include more people in what we do.’

Using Covid-19 as a catalyst for innovation, fashion brands are leaning into the potential of digital fashion weeks.

Starface releases political pimple patches

Vote Star by Starface, US

US – Beauty brand Starface has released ‘vote star’ pimple patches, which are intended to boost voter registration in the 2020 United States presidential election.

Launched in partnership with Alliance for Youth Action, a network of organisations that encourages progressive political power for youth across America, the limited-edition redesign of the ‘hydro-stars’ is the latest political variant from the activist beauty brand. Together with the patches, the brand's latest digital campaign features conversations with young first-time voters discussing their reasons for participating in the election.

Aiming to inspire political engagement amongst young people, Starface has so far donated £7.8k (€8.5K, $10k) to the cause. The beauty brand has previously released a ‘rainbow star’ earlier this year, donating the proceeds to the Black Led Movement Fund (BLMF) and the Hetrick-Martin Institute for LGBTQ+ youth.

Approaching activism with a fresh aesthetic is a useful way to engage young consumers. For more, read how creatives are digitally reframing activist narratives by using nostalgic design as a form of Graphic Activism.

Fintech for the circular economy

UK – DIEM is a new circular economy-oriented fintech company, empowering consumers to value and instantly gain credit for a range of lifestyle items.

Dubbed as the ‘bank of things’, the service allows consumers to receive instant payments for unwanted items. On top of regular debit card access, DIEM also offers competitive international transfer rates and user-friendly spending analytics. Using a dedicated app, customers are able to gain instant valuation for their clothes, accessories, electronics and books – using a market-based algorithm with integrated machine-learning.

Geri Cupi, founder of DIEM said: ‘DIEM brings freedom. Perhaps some want to fund a new business, travel or spend on an experience, education, or leave it to their kids, donate to charity? The system allows an abundance of choices. Hopefully it will lead people into becoming more conscious of their consumption, not less.’

As we identify in Sustainable Spending, digital initiatives are emerging to support consumers in their ethical shopping habits.

Stat: Christmas shoppers will be avoiding in-store buying

H Beauty by Harrods, UK

British consumers plan to avoid shopping in physical bricks-and-mortar locations this coming festive season due to ongoing Covid-19 restrictions.

According to new research by Klarna and Retail Economics, almost three-quarters (71%) will be put off doing their shopping in-store this Christmas, with many shifting their purchase habits to e-commerce sites. Financial uncertainties during this period also mean that festive spending is expected to be pulled forward, with a third of shoppers (33%) hoping to buy discounted gifts on Black Friday.

With consumers set to dedicate more time to online shopping, brands and retailers have an opportunity to connect with customers in a more conversational and circular way – something we explore in Feedback Frontiers.