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.""
My character, Dinah Madani, is just the coolest, [most] badass woman imaginable," says @amberroserevah. The actress stars in @marvel's newest series on @netflix, @thepunisher. To prepare for her role, Revah sat down with Homeland agents to get a real sense of with Dinah's day-to-day life is really like. Read our full interview on WWD.com. #wwdeye (📷: @jilliansollazzo)
A scene from the 91st annual @macys Thanksgiving Day Parade. The parade, which boasts 50 million TV viewers and 3.5 million on-site spectators, is considered one of the largest and most watched parades in the world. (📷: Jason Szenes/EPA-REX)
The circus came to @bloomingdales 59th Street on Tuesday night and lit up Lexington Avenue with acrobatic dancers, death-defying knife throwing, sword swallowing and aerial acts with no net. The 45 minutes of theatrics built up to unveiling the holiday windows depicting @swarovski crystal-encrusted circus pieces and scenes from “The Greatest Showman” – songs from the soundtrack included. See the rest of the photos on WWD.com #wwdfashion (📷: Joshua Scott)
The psychedelic fashion that pervaded the ’60s is back with an exhibit at the @museumofcityny. “Mode New York: Fashion Takes a Trip” chronicles the changing styles from 1960 through 1973 and features designers such as @ysl, @oscardelarenta and more. The exhibition, which is on display through April 1, is organized into four periods: First Lady Fasion, Youthquake, New Bohemia and New Nonchalance. Pictured here is model Pat Bardonella during the Garvey Day Parade in 1968. (📷: @kwamebphoto) #wwdeye #wwdfashion
“People should be a lot more honest in expressing both the dark and light of themselves. We need to give each other the space to do that because it’s the only way we can grow and evolve,” says @noelwells of her new film “Mr. Roosevelt,” which is largely based on her own struggles. Unexpectedly leaving @nbcsnl in 2014 after just one season, Wells felt set back in her self-esteem and career trajectory. She quickly refocused her energy to more personal projects, which led to the completion of “Mr. Roosevelt.” Read the rest of WWD’s interview with the “Master of None” actress on WWD.com #wwdeye (📷: @jilliansollazzo)
@barbrastreisand is giving fans a chance to see her perform up close in a new concert series, which makes its debut on @Netflix today. From behind-the-scenes takes to her concert performance in Miami last December, the two-hour streaming special captures Streisand in her element. Pictured here is the singer/actress photographed for WWD in 1963. (📷: Palmieri Tony) #wwdeye #wwdarchive
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)