Luxury fast fashion
The world of high-end fashion has relied on a stable business model for decades; luxury collections are previewed at major fashion events, anticipation builds and then up to six months later products actually go on sale. But it was clear from last week's London Fashion Week that the luxury fashion model is changing as some brands seek to take advantage of consumer demand for fast fashion.
Last week a number of major brands, including Tommy Hilfiger and Burberry brought their 'see now buy now' shows to London Fashion Week. These shows, which allow fans to purchase items as they appear on the catwalk, were predicted to help increase retail sales in the West End of London by 3.2% in September 2017 as compared to September 2016.
Nicopanda, is a prime example of a brand embracing the 'see now buy now' model. This year, Nicopanda produced their show in collaboration with Amazon. An Amazon photography studio hosted one of Nicopanda's shows and they offered one-hour delivery of the Nicopanda collection for Amazon Prime members.
Although 'see now buy now' is not for everyone, it is a great example of brands and retailers working together to foster innovation and move away from traditional retail models to stimulate demand in a challenging market.