EVIAN, France — Marketers can learn from the past, but they also need to be mindful of what the future holds.
So were the messages of industry gurus, those management consultants to whom brand marketers turn for inspiration. And for certain, attendees at the WWD Beauty CEO Summit got an earful.
Management consultant Robin Lewis, who is usually one of the most popular speakers at the Summits, gave a one-hour-plus talk on how he sees distribution as the key to brand success and survival in the 21st century. During his talk, Lewis introduced a new concept and coined a new term, "brandchising." Simply put, the term refers to the combination of two equally powerful brands, giving rise to synergies leading to the creation of new consumer markets. An example is Target and its specially created designer brands.
From retail and consumer products consulting firm, Kurt Salmon Associates, attendees were advised that they can learn from brand-building success stories from outside the beauty industry, too. Todd L. Hooper, principal, and Tony Smith, vice president at KSA, explained the the winning ideas behind four new product success stories that explode the myth of "slow growth" industries. The case studies included the introduction of the Power Bar athletic snack, which was concocted in the kitchen of a marathon runner who needed a nutritional item to enhance his performance. The resultant $100 million company was acquired by Nestlé in 2000 at four times sales.
And for those looking to spark a stagnant brand, Hooper suggests taking a page from Kellogg, which after some 50 years, decided not to just print its Rice Krispie Treats recipe on the box, but to cook it up and sell it through vending machines. It is now a $350 million business.
Another successful strategy can be as simple as taking a niche brand and expanding into new markets, like Kraft did with Altoids, after it noticed its huge cult following in Seattle. Then there was Colgate’s story. Looking to stimulate a flat toothpaste market, it came up with Colgate Total to grab sales from older consumers with an item offering gum disease prevention and other benefits. Its sales hit $100 million annually, strengthening its dominance of the market. As noted by Hooper: "You can’t afford to take hits on these core products.""
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye
"Nowadays when life is not so happy with everything going on in the world, I think people come to me for a little bit of whimsy and color and fun." - Designer Rebecca De Ravenel on her cult-favorite jewelry line. (📸 : @vsteves) #wwd40
“Everyone is talking about how the retail industry is struggling, but I think it’s an incredible time because brands who are doing something different and innovative are setting themselves up for the future,” said @adamgoldston, who founded the luxury athletic brand @apl with his brother @ryangoldsten. The Goldston’s are part of WWD’s 40 under 40: a group of industry notables. See the rest of the list on WWD.com. (📷: @vsteves) #wwd40
@eyeswoon blogger Athena Calderone debuted her first-ever cookbook, “Cook Beautiful,” which is heavily centered on the presentation and visual expression of food. Pictured here are her miso glazed carrots from the book. Get the recipe on WWD.com. (📷: @johnny_miller_) #wwdeye
“It’s passion that helps get anybody to a certain point and it’s what’s propelled me,” said Kith founder @ronniefieg, one of WWD’s 40 under 40: a group of industry notables who are changing the face of retail, fashion and beauty. Fieg, who opened a Manhattan flagship on October 7, began his career at age 13 as a stock boy and salesman for footwear chain David Z. “I think staying true to [my] beliefs, hard work and passion have gotten me to where [Kith] is today.” See the rest of the 40 at WWD.com. (📷: @vsteves) #wwd40
25-year-old @samweaving is about to break out this fall, starring in Netflix’s horror film “The Babysitter,” fittingly out today on Friday the 13th. That’s not the only place you’ll be seeing her, though — Weaving’s got a role Showtime’s “SMILF” and another alongside Frances McDormand and Woody Harrelson in “Three Billboards Outside Ebbing, Missouri.” Though she’s got a full plate at the moment, there’s one role she’s got her eye on: Marilyn Monroe. “I’m a little too young at the moment, but it’s on my bucket list,” the actress told WWD (📷: @dandoperalski) #wwdeye
BFF's Poppy Jamie and Suki Waterhouse celebrated the launch of their bag line Pop x Suki at Nordstrom last night. "The line is really about our friendship, and how we are so different but complement each other," said Waterhouse. 👯 (📷: Katie Jones) #wwdeye
After designing the new @louisvuitton and @bulgariofficial flagships and a @chanelofficial boutique opening in Japan, @petermarinoarchitect has another project on his plate: The Lobster Club. Located in the Seagram Building, it’s the famed architect’s first restaurant project in New York, serving up modern Japanese brasserie-style cuisine. Bronze hues, bespoke material detailing, blush and chartreuse tones and a heavy emphasis on Picasso can be seen throughout. Mark your calendars for Nov. 1 for the much-anticipated opening. (📷: @clint_spaulding) #wwdeye
Did you know: @carlychaikin of "Mr. Robot" has been painting for about a decade? The actress, who plays Darlene on the show, is a self-taught artist who lists Salvador Dalí and Chuck Close as some of her idols. Chaikin told WWD that painting is a form of meditation for her — A much-needed one given the intensity of "Mr. Robot." See a piece Chaikin is working on at WWD.com (📷: @jilliansollazzo) #wwdeye