What CEOs can Learn from Designers
Posted on | November 1, 2010 | No Comments
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The C-Suite just doesn’t get it. CEOs need designers to teach them about the industry and culture.
By Kate Benson
Designers were the first to embrace fast fashion. They recognized the much broader audience that could be reached and realized that customers would appreciate spending less, occasionally, but still enjoy the brand experience.
Target’s collaboration with Isaac Mizrahi was groundbreaking. H&M followed suit with designer collaborations with Karl Lagerfeld and Stella McCarthy. Gap recently launched a Stella McCarthy kid’s line, which led to the launch of her own eponymous kid’s line. Karl Lagerfeld has just announced that his own line, Lagerfeld Gallery, will be more “democratically priced” and positioned going forward.
Designers recognize the direction and desires of customers needs before their CEOs do. While brand CEOs can learn from designers, it doesn’t stop there. Department store CEOs may want to listen as well. In an ever fast-changing world, it is ever more critical that department stores be agile, creative, and open to some risk taking.
A winning formula is a true merchandising pyramid with democratic prices, enabling a myriad of customers to look and to buy. This also allows customers at the high-end to feel special in their luxury purchase, but smart with their democratic ones.
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Kate Benson is the Founding Managing Director at Martens & Heads!
New York City
www.maxinemartens.com
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