One of my blog’s page is dedicated to Svpply.
For those of you who never heard of Svpply, it’s a fantastic way to keep track of what you know you want (for later, when you’re rich), and most importantly, discover amazing things you don’t know you want yet.
Svpply has lot of competitors, like Lyst. Unlike Lyst, Svpply members can bring products in Svpply themselves which adds to the incredible diversity of products, from well know brands sold at Nordstrom, Neiman Marcus and co, to the most confidential ones, only selling through their Shopify or Big Cartel shop.
That’s why Svpply and its competitors represent a great opportunity for small companies and even bigger ones to promote their products. Indeed, there is snowball effect when a product is added to Svpply by someone. When it’s added to someone’s list, their followers can see them and add them, etc, etc.
A link is provided to buy the product, as unlike Pinterest, the goal of Svpply is to only show things that can actually be bought. Unlike Ryan Gosling and Scarlett Johansson.
Here you can read a great article written by one of Svpply’s founders about their competition, and how he thinks things are going to turn out for these types of social shopping websites.
I read an interesting article (two years old, but still relevant), a few weeks ago, about the real cost of what high end products. The example taken was pants. $350 for a Thom Brown pair, $595 from Giorgio Armani, $495 from The Row. Something might be wrong.
Eric Wilson, the author of the article, assumes that since the luxury bubble burst (when did that happen?), brands have no clue what to charge customers (pigeons?).
David Aaker, who works at Prophet, a brand consulting firms, argues that what is being charged has nothing to do with cost, but who is wearing them, who designed them and who sells them.
I’m going to side with Mr. Aaker.
Designers argue that their products are in fact a steal.
How surprising of them, BTW.
Indeed, that’s what Scott Sternberg from Band of Outsiders says.
His $550 pants sold at Bergdoff Goodman, are made in Brooklyn and cost around $110 dollars to manufacture (materials+labor). Add the usual mark ups from the brand to the retailer, and then from the retailer to the final consumer and you might get a $550 figures.
Anyway, as long as people are ready to pay that much for that…Business is business.
This article from the newspaper Le Monde (sorry, it’s in French!), talks about the fact that Repetto, a brand which was close to bankruptcy in 2002, is now hiring to accomodate its expansion. Indeed, Repetto is going to hire 150 people in a French region seriously hurt by unemployment in order to increase its production from 2,500 pairs per day to 7,500. Sixty percent of production is exported, the brand has now 50 shops worldwide, and its turnover now reached 50 million euros in 2011.
This is good news because it proves that there is still a market for (expensive), French made products, and I hope that Repetto’s success will inspire many others in the near future. The manufacturing industry has lost millions of jobs in France in the past decades, and our only way to keep these jobs in France is to manufacture products with a high value added, as we cannot compete on prices, with countries like India or China.