SEP
22
NYU Stern Study Shows Recession Pushing Brands to Belatedly Innovate Web Efforts 'Out of Necessity'
Advertising Age,
September 22, 2009 —
During the flush years, luxury brands seemingly cemented their exclusive status by shunning one of the ultimate mass mediums, the internet. According to a new study, only 33% of luxury brands were selling online a year ago, but the recession has had a profound effect, as 66% of luxury brands are now peddling their wares on the web.
NOV
2008
The drop-off in advertising spending by luxury brands means more bad news for magazines and newspapers in the United States.
New York Times,
November 24, 2008 —
Gold was raining from above for luxury brands in the good old days of 2007.
Last December, the designer Marc Jacobs held his annual holiday party for 800 guests, including revelers from Vogue, W, and Harper’s Bazaar, in the Rainbow Room at Rockefeller Center. With the theme of Arabian Nights, Mr. Jacobs had arranged for tableaux vivants, contortionists, five open bars, bare-chested women bedecked in gold necklaces, bare-chested men balancing candelabras on their heads and, at one point, a shower of gold glitter poured over the guests.
Mr. Jacobs has held the party for each of the last 18 years, but on Nov. 4, a short e-mail message was sent out by his business partner, Robert Duffy: “Due to the financial climate, I had to make the decision to... continue reading
NOV
2008
New York Times,
November 5, 2008 —
One of the biggest and fanciest shopping malls in Europe opened here last week in a test of British consumers’ ability to keep spending during a steep downturn. The shopping center, Westfield London, is also shaping up as a vast experiment in making over the humble billboard.
CBS Outdoor, a division of the CBS media conglomerate, has installed more than 100 digital advertising screens at Westfield, including one covering 646 square feet.
The idea is to try to attract new kinds of clients to so-called outdoor or out-of-home advertising, including luxury brands.
