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Freshly Squeezed: 18.10.19

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By Published On: October 18, 20190 Comments

Nike shifts its distribution strategy and Gucci is named the fastest-growing luxury brand. Get a healthy dose of news as we uncover the day’s top stories in e-commerce and retail.

Banksy Launches E-Commerce Platform

Anonymous British artist, Banksy, has launched an online store, Gross Domestic Product. His works include a bullet-proof vest worn by rapper Stormzy, an HD TV with a child painted on the screen and many other art pieces. The political artist displayed some of the works in a pop-up exhibition in Croydon, South London in early October.

Those wishing to make a purchase must sign up online and are limited to purchasing only one item, but must answer the question: Why does art matter? Judges will select those with the most ‘apt and original’ answers. The prices of the first consignment of releases, according to the site, are price-fixed ‘at a reduced rate for lower-income patrons’.

Gucci Named Fastest-Growing Luxury Brand

Gucci has been named the fastest-growing luxury brand by Interbrand’s top global brand ranking, with Nike sitting at the top spot for apparel. Gucci grew by 23 per cent in value since last year’s report, and is one of the most popular luxury brands for Next-Gen shoppers. Louis Vuitton and Chanel sat in the ranking with Gucci, and Google, Amazon and Apple were also listed in the ranks.

Nike Shifts Distribution Strategy

Nike is shifting its distribution strategy, by pushing up the minimum amount for retailers to spend in order to sell wholesale. The brand also agreed to end its partnerships with independent retailers over the next two years as part of its Triple Double Strategy (2X) growth plan. The growth plan was announced in 2017 with the hopes to double its ‘cadence and impact of innovation’.

Catch up on yesterday’s Freshly Squeezed news here.

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