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business Podcast product Retail

Riding the sneaker culture boom

The success of Stadium Goods comes off the back of unprecedented consumer desire for sneakers and the need for a rich brand experience in which to buy them, says the platform’s co-founder and co-CEO, John McPheters, on the latest episode of the Innovators podcast. 

“For me the light bulb was that demand had never been higher. It was continuously growing, there were more and more people that wanted to buy our products, but there wasn’t a rich experience that consumers could go to to buy that stuff that was trusted, where they knew what they were getting, where they could really hang their hat on the brand experience and the presentation.” he explains.  

As a result he and his partner, Jed Stiller, set about creating a site that is focused on consignment – meaning it resells existing sneaker stock as well as broader streetwear – but it only does so with unworn and authentic styles. That focus on trust is the key, he says.  

Only launched in 2015, the site was acquired by ecommerce marketplace Farfetch in 2018 for $250 million. Very few emerging businesses have seen such rapid growth. It’s now considered such a market leader, it recently announced a partnership with auction house Sotheby’s to sell 100 of the rarest, most coveted sneakers ever produced.  

The site’s explosion aligns with the growth of sneaker culture worldwide. Expected to hit nearly $100bn in global sales by 2024, sneakers are outpacing much of the rest of the industry, including that of handbags. As a result, they have become the new ‘cash cow’ and awareness driver for all manner of brands, not least those in the luxury space, where such products are used as entry to otherwise more aspirational price points. 

In all parts of the market this has resulted in ‘cult’ or ‘it’ sneakers to own as a result. A rare pair of Nikes today can easily sell for as much as those from Gucci or Balenciaga as a result. This means it’s increasingly a race, with some limited edition styles going for $10,000 or more. 

Co-Founder & CEO, Current Global, Liz Bacelar and Co-Founder & Co-CEO, Stadium Goods, John McPheters

In this episode, recorded live at the British Fashion Council’s annual Fashion Forum, we chat to founder John McPheters about the cultural relevance of such products, the evolving role of exclusivity and desire in luxury today, and just how what he’s doing is really about teaching the industry to give up control.

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Catch up with all of our episodes of the Innovators podcast by the Current Global here. The series is a weekly conversation with visionaries, executives and entrepreneurs. It’s backed by the Current Global, a consultancy transforming how consumer retail brands intersect with technology. We deliver innovative integrations and experiences, powered by a network of top technologies and startups. Get in touch to learn more. 

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data Editor's pick Podcast technology

How Google Zoo is thinking about machine learning

Tomas Roope and Rachel Arthur

There’s a very simple filter that comes with working at Google, and it’s about putting the user first, says Tomas Roope, creative lead at Google Zoo, the tech giant’s think tank focused on pushing the limits of creativity through technology.

Talking to Rachel Arthur in a live recording of TheCurrent Innovators podcast from the FashMash Pioneers event in London, he said: “The way we think is always user-first. Are we really solving something for somebody here? …At Google we’re about solving problems at scale.”

That attitude should be applied to every business, including those in the fashion and retail vertical, he explains. The Zoo is a small team that is designed to be a conduit between creative agencies and Google’s own products, its engineering teams and its data. The result is all manner of both creative and technology-driven projects for different industries, from a coded couture dress for H&M’s Ivy Revel brand, to an advertising campaign redefining what masculinity really looks like today from Axe.

While Roope admits some are more PR or headline-driven than others, his process, whether the result incorporates buzzworthy terms like augmented reality, artificial intelligence or beyond, always comes back to whether the solution is something that answers a consumer need. “What shifts the bottom line is making things more relevant, and making them simpler. [It’s about answering] what do people really want?” he asks.

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Anchoring much of that work these days however, comes data. “[At Google], we have seven to eight products that have over one billion users monthly, and so we have a really great understanding of what people are doing… and what they’re thinking,” he explains.

That insight is what informs the work his team does as a result, while machine learning (ML) then takes it to the next level, Roope notes. He refers to ML as an area that’s not yet being explored to its full potential.

“We’re in the middle of two massive revolutions – one of which is still the smartphone coming from 10 years ago, and now the rise of machine learning.” He refers to this as not only a powerful and extraordinarily interesting tool that allows you to fix problems in a way you couldn’t have done before, but as the most exciting underpinning to the future we’re currently building.

It’s completely reshaping what our world looks like, and what opportunities there are for brands in it as a result, he explains.

To get there, he says experimentation for all industries – including fashion and retail – is key. “For me, you’re not going to sit and discover the future by dwelling on it… it’s all about test and learn,” he explains.

As to where it will take us, he adds: “There’s a great quote by Bill Gates that says we tend to overestimate what’s going to happen in two years, but underestimate what will happen in the next 10. If you look back 10 years, we didn’t have smartphones, but in two years nothing’s happened. Only when we look over a good chunk of time do we see how much it’s changed.”

Catch up with all of our episodes of TheCurrent Innovators here. The series is a weekly conversation with visionaries, executives and entrepreneurs. It’s backed by TheCurrent, a consultancy transforming how consumer retail brands intersect with technology. We deliver innovative integrations and experiences, powered by a network of top technologies and startups. Get in touch to learn more.

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Categories
data Editor's pick Podcast product technology

How Levi’s is thinking about data to combat obsolescence with Google Jacquard

The Levi’s Commuter x Google Jacquard jacket
The Levi’s Commuter x Google Jacquard jacket

The Levi’s Commuter x Google Jacquard jacket is the first of its kind – a commercially ready piece of wearable tech that’s both fashionable and washable.

But more than that, it’s one of the only “devices” out there aiming to tackle the idea of obsolescence, Paul Dillinger, VP of global product innovation at Levi’s, told us on our latest episode of TheCurrent Innovators podcast.

The jacket itself is designed for urban cyclists, or as Dillinger refers to it, “for people who live in the city and need to get around”. It’s based on the existing Levi’s Commuter Trucker jacket, but embedded with technology in the sleeve in order for it to operate a number of useful functionalities for wearers. It launched to the public in September 2017 for $350 in stores and online.

“It’s a classical denim trucker jacket that is designed to make an urban cyclist’s life a little safer, a little lighter, a little better. To that we’ve then added about 15 rows of capacitive yarn in the left cuff, that forms an area that is capable to be touched.”

Users can tap or swipe in that spot to then control various utilities including playing music, getting GPS directions, answering or rejecting calls and more. It is connected via Bluetooth to your phone to do so.

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The key, according to Dillinger, was about making it still feel like a fashion item. “(The jacket) had to feel like a Levi’s product not a piece of Google technology,” he says. But it had to function to the same level of a Google technology too. We had to take a lot of time to weave it in so that it was working but not visible, trying to make it look and feel right.”

The aim now is to constantly improve on that functionality to make it increasingly more useful to the user too. “The spring [update] of this product won’t be a new object, it will be new abilities. We built digital platforms so that the jacket never gets obsolete,” Dillinger explains.

In partnership with Google, the team studies user behaviour data to gain indications of how they should be improving.

That approach is a marked difference for the two industries involved. Tech is usually designed to be replaced. It’s the reason we all upgrade our iPhones. By comparison, in fashion – despite the shift towards disposable clothing at the cheaper end of the market – the ideal is for longevity. Denim from Levi’s frequently falls into that latter category.

Liz Bacelar of TheCurrent and Paul Dillinger of Levi's recording TheCurrent Innovators podcast
Liz Bacelar of TheCurrent and Paul Dillinger of Levi’s recording TheCurrent Innovators podcast

“The challenge is to make it something that people will want to wear, and something that is more like a platform, that can improve itself,” Dillinger notes.

This is a jacket that’s essentially a piece of software more than hardware then, with upgrades that install automatically. “We started selling in September. By the holidays the users got a notification on their app saying, your jacket just got better, we have capabilities that are improved,” he adds.

“We’re giving people a reason to keep a garment longer, not less, and we’re giving them an improved version of something they already know. So rather then giving you the bad feeling of something going out of fashion, we’re giving you the opposite feeling by improving over time what you already bought.”

TheCurrent Innovators is a podcast about the leaders pushing the boundaries of fashion, beauty, and retail. Hosted by Liz Bacelar and Rachel Arthur, and distributed by MouthMedia Network, each episode is a frank conversation about the challenges and opportunities faced by top brands and retailers around the world today, through the lens of technology. Check out some of the other highlights, including an interview with Stefano Rosso, CEO of Diesel, and William Tunstall-Pedoe, founder of the tech behind Amazon Alexa.

Catch up with all of our episodes of TheCurrent Innovators here. The series is a weekly conversation with visionaries, executives and entrepreneurs. It’s backed by TheCurrent, a consultancy transforming how consumer retail brands intersect with technology. We deliver innovative integrations and experiences, powered by a network of top technologies and startups. Get in touch to learn more.