All in all, several years of TV series have – intentionally or unintentionally – started high-profile fashion trends. Today, consumer and boutique brands want to capitalize more on the TV market.
“We’re excited to offer fans a new way to connect with their favorite stories and introduce them to the next wave of artists and designers who are embracing the power of storytelling in all its forms.” Josh Simon, vice president of consumer products at Netflix, said in a statement last October.
Fast fashion companies like ASOS have always been one step ahead of luxury brands in this space. How quickly they could develop, produce and market a replica of a product seen on screen. To counter this, luxury brands are connecting with streamers and broadcasters earlier in the production process so that their collaborations can go hand-in-hand with a show’s release.
Balmain has excelled remarkably in the space. Creative director Olivier Rousteing has launched a bespoke collection for the Netflix western, The more they fall. He was approached separately to design the costumes but decided to expand the relationship further. The collection was available on Farfetch and The Netflix Shop.
“For us, partnerships between fashion and entertainment are something very obvious,” said Balmain CMO Txampi Diz. “I mean, we’re all obsessed with content. Content is the key. Storytelling is key.
Brand partnerships are also a powerful driver for producers, as they can siphon off funds from deals for their pre-production budgets.
Usually, brands collaborated with a show to create a kind of air of time around their product. With squid game, Netflix was already starting from a point where the series strongly influenced societal culture. They used it as a springboard to launch a clothing line.
Simon continued: “The great thing is that we are already starting from this point. I think a lot of our shows are at the center of the cultural conversation… It’s only natural that we’re starting to see how Netflix influences and interacts with the fashion world.
Raza Beig joined the fashion industry with Splash Fashions in 1993. He currently leads the fashion wing of Landmark Group as Managing Director.
He is a shareholder of Fashion Forward, affiliated with the Dubai Design and Fashion Council and currently leads several brands within the group including New Look, Koton, Reiss and Lipsy.
Beig said of the current industry conditions, “In mainstream fashion, there are a lot of things like that. While many companies and competitors have surfaced, they haven’t offered unique experiences to their customers, from store formats to product categories. There is a price war in fashion and customers are getting valuable goods but with a compromise on quality.
“After the pandemic, the environment became very unstable. Logistics prices have skyrocketed, 10 times compared to pre-covid days and this has had ripple effects throughout the supply chain. Raw material costs have risen to unsustainable levels, making it extremely difficult to maintain healthy margins. This forces customers to pay more or switch to substandard products. ” He said.
Regarding brands using TV collaborations extensively and embracing more planning and execution, Beig said it could be a solid way to help grow a brand if it’s the right collaboration.
“If a brand partners with a movie or TV series on a major platform, they are in a good position to look at the show’s package and make an intelligent estimate of its effectiveness based on its cast, director, team, etc
He added, “With this information, you can be roughly informed of a collection’s salability by looking at past metrics of partnerships. This can be used to control costs, bring better products and generate stronger margins.
On Netflix and other brands that focus heavily on digital rather than physical stores, Beig says this makes sense because consumer lifestyles have changed dramatically.
“When the Splash brand was launched in 1993, finding experienced retail talent was a difficult task. The market had few if any international brands other than a BHS and a JC Penny in the fashion arena. Most of the businesses were local shops with no real retail knowledge or training. ” He said.
Beig continued, “The customers were very traditional. So much so that selling men’s shorts could be considered taboo. The journey from the traditional customer to someone very savvy and fashion conscious is amazing, the brand has seen it all.
“Splash management created systems, processes and deliverables for retailers from the ground up with lots of trial and error. A business these days has access to so much data – in this case a television program as well as campaigns – and has a lot more experience in the field of informing. E-commerce has thus positioned itself well.
Today, Splash is a household name in the Gulf Cooperation Council (GCC) states and enjoys the direct loyalty of nearly six million customers. It is the largest local fashion retailer in the Middle East, headquartered in the United Arab Emirates.
On how Landmark will grow to compete with this new stream of business coming from TV, Beig concluded, “We will grow with the market, improve our digital offering and move into new geographies digitally.”
“We look forward to consolidating our franchise operations and pursuing new opportunities outside of the GCC with established retailers.”