A Quote by Nirmalya Kumar
As brands become larger, the need to reach greater numbers of customers makes them less edgy and dilutes their unique positioning as they try to please everyone. It is therefore not surprising to find such brands go into a few years of decline before they are able to reinvent themselves.
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We're in the '100 percent return' business. This is driving millions of new customers into brands; most of our customers are wearing brands they've never tried before.
Most brands that are called luxury brands today are not true luxury brands. The globalization of fashion and luxury means you now find the same luxury brands in every city. The stores look the same, the products are the same. It is still a very good quality product but it is now readily available to everyone. It's a kind of mass luxury.
I think that the strategy around FYI is really a corporate strategy, and that's that every one of our brands that we invest in have to matter and that we need to commit to building brands and investing in those brands, or we need to get out of that business.
All brands, whether high-ticket luxury ones such as Cartier or Rolls-Royce or 'masstige' ones with luxe-y overtones but altogether more affordable, all want to grow. Even brands that may have started in a modestly niche design and lifestyle fashion can find themselves under pressure to go global or to sell out at the top.
Brands need to reinvent themselves from time to time to stay relevant.
Perhaps the most powerful lesson other brands can learn from Nike is the need to act in accordance with the reality of the world we live in. In a mutually dependant, intimately connected global community facing several major crises, brands need to operate with an expanded definition of self-interest that includes the greater good.
Brands are in your face 24/7; I'm sure you've consumed a couple brands today. So it's fun working with them. People recognize brands, and people are starting to recognize my brand.
I know some brands second-guess working with me because I'm a boy that likes makeup. I think brands shouldn't just appreciate boys that wear makeup, but they should embrace it. And I feel like some brands forget they need personality. I have plenty of it.
I do endorse brands: brands that I believe in individually, brands that I use, brands that I am proud to sell. But I wouldn't do that for my films because that's something I do separately. What I do with my films is something I am extremely passionate about.
I am expecting that consumers are going to continue and exert power and influence. The idea of radical transparency is something that few brands are taking advantage of now, and most brands fight it. I’d say that in 10 years the best brands won’t be those with the best stories, sort of made up fictional stories, but those that will give an accurate and real time picture of what they are doing in the interest of the consumer, in any given time.
There was a shop in Birmingham called Autographs, where I'm from in Birmingham. My uncles and dad used to shop there. They played professionally, too. When I started, I went to Autograph, and they had brands like Rick Owens. There are loads of brands, like my go-to brands that I will go to if I want to buy jeans, like DSquared or Balmain.
Retail is undergoing a massive change, and there is a chance for new leaders to emerge and older brands to reinvent themselves.
Too many companies want their brands to reflect some idealised, perfected image of themselves. As a consequence, their brands acquire no texture, no character and no public trust.
Brands, musicians, and public figures were among the first to embrace video on 'Instagram', and we've been impressed with how brands have extended their reach with video ads.
Just as established products and brands need updating to stay alive and vibrant, you periodically need to refresh or reinvent yourself.
I am not only an athlete and sports entertainer, but also have a huge passion for fitness, beauty and fashion, so I am open to many different types of brands. When it comes to brands approaching me, I just need them to be very specific, to the point of what they want and need from me.
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