Today we looked at collaborations, endorsement and sponsorship, brands more recently have been doing this to try to increase sales by reaching new audiences, markets and product categories.
Collaborations can be with other designers, artists, celebrities, other brands and much more.
Some collaborations in 2013 included;
Isabel Marant for H&M
Swarovski for Maison Martin Margiela
Rihanna for River Island
A statistic that shocked me which was mentioned in the lecture was that 90% of collaborations fail! This is due to unequal value, the strategy isn't understood by the consumer and the brand values sometimes don't match.
We also looked at endorsement which is clearly used a lot in the fashion world, almost every single fragrance is endorsed by a celebrity! I haven't seen so much fashion endorsement but you do see plenty of it when it comes to the red carpet or fashion events.
We finally looked at sponsorship, I don't tend to see this used so much by fashion, I didn't even know that H&M sponsored Coachella in 2012 until this lecture.