Women's Wear Daily

Digital Download: Doubling Down on Luxury at Facebook and Instagram

PARIS — The days when luxury brands were reluctant to adopt social media strategies seem far away indeed, yet it was only four years ago that Morin Oluwole moved to France to spearhead Facebook’s luxury division. Since joining the social media giant in 2006, the Stanford graduate has seen the company grow from a staff of 150 to almost 30,000. Her unit, meanwhile, has expanded from two people initially to a network of support teams across the United States, United Kingdom, Italy, United Arab Emirates, Japan, South Korea and Hong Kong. As Facebook and Instagram have added new functionalities — amid a steady stream of controversy and scandal at the parent company — the platforms’ collaborations with luxury brands have bloomed: Louis Vuitton was the first house to use Instagram Stories, shooting exclusive video content to launch its spring 2017 men’s collection, while Dior was the earliest to adopt Facebook Stories after it launched in March 2017. The statistics suggest luxury brands are wise to engage with their customer base on Facebook, which counts 2.2 billion monthly active users worldwide, and Instagram, which has 1 billion. Luxury consumers have almost twice more followers and like three times more content than the average Instagram

Follow WWD on Twitter or become a fan on Facebook.

Read More...

Jim Brett Gets a Sweet Parting Package From J. Crew, Makes Case on LinkedIn

J. Crew Group is making chief executive officer Jim Brett’s departure a little less painful for the executive. Brett is getting a rich severance, including $1.25 million over the next 18 months, which is an amount equal to what was his base salary; a cash bonus payment of $2,812,500, over a period of 18 months, and another bonus of $750,000, representing what was unpaid from his signing bonus. He’s also getting an additional 18 months of service credit with respect to time-vesting management equity that was granted to him. After bolstering West Elm, the furniture retailer, Brett joined J. Crew 15 months ago on a mission to turn around the J. Crew Group, specifically the long struggling J. Crew brand. The company said Saturday that a “mutual agreement” was reached by the board and Brett, but sources said Brett was forced out. The J. Crew brand has been struggling for three years, grappling fashion misses, pricing issues and management changes. Not long ago, it restructured its debt to make it more manageable. To offset difficulties at the J. Crew brand, the corporation has been growing its successful denim-based Madewell division and it recently started the Mercantile lower-priced division. Also, third-party brands are being added to the

Follow WWD on Twitter or become a fan on Facebook.

Read More...

Pages