New York City has a three-pronged strategy designed to transform its economy, one that facilitates growing the start-up community here while at the same time ensuring continuation of legacy industries such as media and fashion.
That was the gist of a keynote presentation by Seth Pinsky, president of the New York City Economic Development Corp., who spoke Thursday at the Consumer Electronics Association’s Conference at the Metropolitan Pavilion & Altman Building at 125 West 18th Street.
The three-pronged strategy fosters growth and development of legacy industries, has initiatives to attract new industries to the city, and features training programs and investments to encourage start-ups around town. The latter includes establishment of the New York City Entrepreneurial Fund, a seed fund of up to $22 million provided by the city and venture capital firm FirstMark Capital, to help create jobs by investing in incubators headquartered in the city.
Regarding the legacy industries, Pinsky said the focus is on how to transition them from the 20th century to the 21st century. He noted how media leaders gathered for MediaNYC 2020 to exchange ideas on where the industry is headed and how to transition and adapt to the new technology.
Pinsky said during the question-and-answer session that Mayor Michael Bloomberg’s administration had similar discussions with leaders in the fashion industry.
Already there are many technology startups here, such as software firms, that impact fashion production and e-commerce, he said.
“New York City has two challenges for the fashion industry. There are two times the fashion companies here than in Paris.…The first is that [while] there is no problem attracting creative talent, the hardest is to attract those with business skills to enter the fashion industry. The second is that the fashion business model has changed,” Pinsky said.
Still relatively new in development, the administration is working with retailers such as Macy’s Inc. and educational institutions such as Parsons the New School for Design to bring management talent to the industry and test new business models.
The presentation was in conjunction with the CEA conference and line show exhibits all week. New technology products were on display showcasing lifestyle needs at home and on the road, such as video display enhancers and audio gear for home sound systems. The prevalence now of smartphones also had several firms displaying gadget cases and accessories, such as Case-Mate.
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)
As one of the most recognizable models in the world, Christy Turlington Burns has an insider’s view of the fashion industry and the allegations of sexual harassment swirling around it. “I can say that harassment and mistreatment have always been widely known and tolerated in the industry. The industry is surrounded by predators who thrive on the constant rejection and loneliness so many of us have experiences at some point in our careers,” Turlington told WWD, along with her suggestions for how the modeling world should protect younger women and men. Read more on WWD.com. Link in bio. (📷: Tony Palmieri) #wwdnews
@asics America has tapped a new brand ambassador: famed DJ/record producer @steveaoki. This initiative is intended to set the tone for the new brand identity and philosophy and will include partnerships with influencers and in-store and off-line activations that will continue into next year. This is Asics’ most significant marketing effort in two decades, and is expected to attract younger consumers to the brand. #wwdfashion
24-year-old Jean Prounis is redefining the rules of jewelry. Formerly a studio assistant to Jemima Kirke and a design apprentice at Ghuran, she focuses on handcrafted subtleties and ancient goldsmithing techniques. “There was a really sterile feel in the environment and I wanted to have jewelry with character that shapes how you wear it everyday,” Prounis said. Each piece is hand made in New York, either by Prounis or three other jewelers in the district. #wwdfashion
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews