FINAL EXAM Flashcards

1
Q

Environmental and social costs of garment production

A

The current fashion system uses high volumes of non-renewable resources, including petroleum, extracted to produce clothes that are often used only for a short period of time, after which the materials are largely lost to landfill or incineration. Garment production is also one of the world’s biggest and most labour intensive manufacturing industries

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2
Q

Sustainable development

A

development that allows us to meet our own needs without preventing the future generation from meeting theirs. It is about the triple bottom line (people, profit, planet)

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3
Q

Sustainability in the fashion industry

A

Sustainable fashion is a way in which brands create clothing that has no negative impacts on the environment and has a positive impact on the people and communities associated with its activities

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4
Q

Circular Economy (CE) and differences between upcycling, recycling, and downcycling

A

The circular economy is a model of production and consumption, which involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products as long as possible. In this way, the life cycle of products is extended.

Upcycling is converting discarded materials into equal or higher value products. Recycling is changing items considered as waste into new products to prevent waste of potentially useful materials and reduce the consumption of fresh raw materials. Downcycling is converting valuable products into low-value, raw materials.

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5
Q

Greenwashing and greenhushing and their risks

A

‘Greenwashing’ is a marketing technique which implies brands using vague, misleading or false claims to suggest it’s more eco-friendly than it actually is ( sustainability as a PR tool). A trend known as “green-hushing” is on the rise, with companies increasingly choosing not to disclose details of their climate targets in an attempt to avoid scrutiny and allegations of greenwashing

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6
Q

Sustainable apparel

A

Use of certified organic natural fibers (wool, cotton or linen). Use of highly renewable fibers (bamboo or soy). Use of low impact synthetic or recycled fibers. Use of non-toxic or reduced toxicity fiber processes and treatments. Use of low impact or natural dyes Design and color choices aimed at longevity rather than planned obsolescence. Fair Trade, ethical labor practices, elimination of child labor and other exploitation. Reduced energy use throughout the product life cycle. Minimal or environmentally appropriate packaging

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7
Q

Inspirational sustainable initiatives

A

There are many brands nowadays in the fashion industry that address the issue on sustainability using various approaches: through materials, design process, industrial processes, services such as repair, use of non-toxic or reduced toxicity fiber processes and treatments, low impact or natural dyes, supporting ethical labor practices, elimination of child labor and other exploitation, reduced energy use throughout the product life cycle, environmentally appropriate packaging, etc

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8
Q

What makes Patagonia a best practice

A

Patagonia is transparent and has published its supply chain publicly, and aims to hit carbon neutrality. Also focused on the product lifecycle and have products designed to be durable and multifunctional. They use raw and recycled materials and aim to only use renewable and recycled materials. Also are activists and take on social responsibility by supporting fair trade programs for workers.

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9
Q

Dream factor, concept and example

A

Dream factor is the ability of a brand or design to evoke a sense of desire, aspiration, and fantasy
Hermes, fairytale and playful dream

The ‘dream factor’ communication: importance of visual, advertising campaigns, as collections change every 6 months, the collaboration is sought with Art directors, even = catwalk, store openings, anniversaries; media = magazines (adv. And editorials) + Instagram; idols, KOL, and influencers; the designer’s role; videos are the way to create storytelling; collabs are a way to create cultural aggregation across the brand’s communities; constant experimentation on digital platforms. Chiara Ferragni: cake scandal, not all profits went to a good cause

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10
Q

Tone of voice and examples

A

skin care brands, friendly and informative, designer brands are conceptual and “come challenge me”

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11
Q

Media

A

Media = magazines (adv. and editorials) + Instagram

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12
Q

Characteristics of communication in the digital area

A

powerful stories, authentically imperfect, humanized AI, inclusive not woke

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13
Q

The role of influencers is changing, deinfluencing, content creators

A

Phenomenon of ‘deinfluencing’ is on the rise: highlighting products which are not good to use
Content creators and influencers are different because of social movements: more social issues emerge (sustainability, BLM, LGBTQ, bod shaming, etc.), creators can be hired for values similar to those of the brand, creative focus: content creators are focused on the quality and creativity of the content; influencers are focused on sponsoring content and increasing the follower base.

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14
Q

ROE and how it can be achieved

A

ROE - return of empathy: captive conversations, conscious communication, innovating influence

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15
Q

Brand communication yesterday vs. tomorrow

A

Brand communication is moving from image to experience, influencing to educating, press & VIPS to consumers, cross media to trans media, to wait and see to trial and error, and from the brand as a spokesperson to brand as a facilitator of communication

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16
Q

Change of retail landscape

A

Retail landscape has changed more in the past 5 years than in the last 50. The fundamentals of what a store is (its purpose and function) are in flux. This change is not driven only by economic, product or industry trends. Instead, it is shaped by new behaviours, needs and demands of the new generations of customers who value experience above, as well as the rapid advancement of the digital.

17
Q

New retail

A

need to recognize new behaviors and reprioritize what shoppers want.

18
Q

New generation of consumers

A

New generations of customers ( namely Millennials and Gen Z) have come to expect a seamless experience both on and offline for their shopping needs.

19
Q

Consumer experience

A

Customer experience generally involves delivering value at their touch points when, where and how they need it.

20
Q

Types of channels

A

Single channel: one distribution option, Multi channel: different channels, brand-focused, communication fragmented, Cross channel: several channels, same purchase, Omni channel: simultaneous use of all channels, integrated, unified communication

21
Q

Omnichannel

A

Omnichannel is the combination of (traditional) retail and digital solutions that place the customer in front of more articulate shopping journeys that move brands to build immersive shopping experiences, involving, simultaneously, all touchpoints.

22
Q

Omnichannel in fashion and luxury involves

A

bringing “high-end in store experience” into the digital space. Further it is about reinforcing and reinventing the offline experience through digital.

23
Q

Characteristics that define omnichannel retail leaders

A

data-driven digital marketing combined with creativity & brand building, speed and reactivity (travelling at the speed of consumers!) and active control of data, tools and technology.

24
Q

Virtual fashion opportunities

A

Major trends shaping the future of retail are: AI and GenAI, AR, Metaverse and Gaming,NFTs, Re-commerce, Retail Media Networks (RMNs), crypto-currency.

25
Key product categories of beauty industry
skin care, hair care, makeup, fragrance, toiletries.
26
Main players in beauty industry
L’Oréal, Unilever, Procter & Gamble, and Estée Lauder Companies.
27
Explanation of the beauty market logic
The market follows a mass market logic, it is extremely competitive and characterized by continuous launches of new products with high communication investments (i.e. fragrances) making brand loyalty difficult. It is a mass market industry but there is a tendency towards niche and local brands with different marketing concepts.
28
Concept of ‘masstige’
One of the biggest changes in the luxury beauty competitive landscape is the rise of “masstige” brands, which market products that are considered premium yet attainable ( masstige carries both a wide distribution and elevated premium value).
29
Root causes of major shifts in the beauty industry
Digital technologies, the rise of online channels and SM, sustainability concerns and the New Generations of consumers (gen Z) that are reinventing their approach to beauty and self-care, are the main causes of major shifts in the beauty industry.
30
Role of social media and content creators
As a new generation of consumers grows up, they’re more empowered to purchase “quick-to-market” products found via social media from brands that are growing right alongside them. Skinfluencers are the next big thing for beauty brands and skincare brands. Offering skincare advice on social media, these content creators are reaching Gen Z where they’re at.
31
Key trends in the beauty industry
Clean Beauty - natural & organic cosmetics, DIY products & customization, Radical Inclusivity & Diversity (challenging old beauty standards, unconventional beauty, all gender expressions, age inclusivity) , Genderless products, K-beauty, C-beauty). In addition, extended reality or XR (an umbrella term for virtual, augmented and mixed reality) is set to change the way the beauty industry functions.
32
New segments in beauty industry
Men, Aging population, Tween consumers. In particular, the market for men’s beauty products is the segment with the greatest growth potential.
33
Self-expression vs medical tool (sun vs optical)
Eyewear is a particular business, divided into eyewear as a means of self-expression vs. eyewear as a medical tool (sun/fashion vs. optical, triggered by different needs)
34
Why eyewear is such a relevant brand extension for fashion and luxury
Eyewear has moved from pure function to a fashion accessory: new game, new rules, new retail environment. The fashion nature of some references, particularly sunglasses, is enticing numerous players into eyewear, leading to serious competition between traditional eyewear specialists and fashion houses.
35
Market size and trends of eyewear industry
Growing consumer awareness of the importance of eye health, disposable income levels, and the aging population are expanding the consumer base globally. Large market that is expected to continue to grow. The market is experiencing growth due to demographic factors, the expansion of emerging markets, improved living standards, increased health awareness, a shift toward branded products, and the emergence of new sales channels such as e-commerce. ECO is making all sustainable eyewear
36
The role of technology in eyewear
eyewear is the only category - besides technology - in the luxury arena that can play on the innovation territory to boost and differentiate brands
37
Key players (why Italy) with eyewear
Among the main players are EssilorLuxottica, Safilo, Kering Eyewear, Marchon, Marcolin, Thelios (joint venture between LVMH and Marcolin), and De Rigo. in various markets, competition is also represented by many national, regional, or local players. In the premium segment there are few key players, primarily Italian companies benefiting from the manufacturing excellence in the Cadore eyewear district, along with a historical development of licensing agreements with fashion and luxury brands
38
Luxottica key milestones
The merger of Luxottica and Essilor has created two undisputed leaders in the eyewear industry, with Luxottica dominating frames and sunglasses and Essilor specializing in lenses
39
What are the moves of Kering and LVMH
Global luxury conglomerates are increasingly taking control away from traditional licensing models, as seen with companies like Kering Eyewear and Thelios. Despite consolidation, the market is also witnessing the continual rise of direct-to-consumer (DTC) brands