What the age of product means for the fashion industry?
When Bottega Veneta left Instagram, it created quite a buzz. No statement was given regarding why, and there has been no official explanation. This mysterious and intriguing action has left us asking many questions, but the one thing we can all agree on is that the industry is changing, and changing fast.
There are many theories regarding Bottega Veneta’s decision, but such tenacity to leave social media perhaps proves that the fashion industry is now entering an age when the product is more important than the brand. This attitude is prevalent in the tech world, especially for software companies, but it is still a blurry territory for the fashion industry.
In the fashion world, product being more important than brand may mean that consumers will prioritize quality. For smaller brands, this provides a huge opportunity to reduce inventory levels and to take a demand-focused approach while also promoting flexible in-season reactivity for new products and replenishment.