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Retail, Fashion & Beauty: How companies drive innovation Harper’s Bazaar cover, 1965

RETAIL, FASHION & BEAUTY: HOW COMPANIES DRIVE INNOVATION

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Page 1: RETAIL, FASHION & BEAUTY: HOW COMPANIES DRIVE INNOVATION

Retail, Fashion & Beauty:How companies drive

innovation

Harper’s Bazaar cover, 1965

Page 2: RETAIL, FASHION & BEAUTY: HOW COMPANIES DRIVE INNOVATION

Introduction

Innovation has always been a pillar of

sustainable growth.

However, innovation cycles tend to get

shorter and shorter.

Innovation is a real imperative and a critical

survival challenge for any company that

wants to:

• create and foster a culture of

disruption

• meet new consumer purchase habits,

especially those of Millenials and

Generation Z

• reinvent and deliver new experiences

and services to customers

• Strengthen growth and profitability

2© iVentures Consulting 2017 Harper’s Bazaar cover, 1965

Page 3: RETAIL, FASHION & BEAUTY: HOW COMPANIES DRIVE INNOVATION

4 types of innovation are company-driven

3

Product

innovation

Customer

experience

innovation

Business

model

innovation

Operational

innovation

© iVentures Consulting 2017

Source: Crowd Companies,

2017

Page 4: RETAIL, FASHION & BEAUTY: HOW COMPANIES DRIVE INNOVATION

Product innovation

4

R&D, New product development

Examples:

• Amazon Alexa

• Amazon Dash button

• Patagonia e-fibers

• Apple Watch

• Tag Heuer Modular Connected 45

• Amazon drones

• Nike Plus app

• Levi’s Commuter Trucker jacket

• L'Oréal/ La Roche Posay My UV Patch

• Shiseido MATCHco (skintone matchmaker app)

• Etc.

© iVentures Consulting 2017

Source: iVentures Consulting,

2017

Page 5: RETAIL, FASHION & BEAUTY: HOW COMPANIES DRIVE INNOVATION

Customer experience innovation

New services, new interfaces,

immersive experiences …

Examples:

• Stores of the future (Amazon Go, Farfetch…)

• Virtual reality Makeup/skincare/hair color try-on (Sephora Visual Artist, L’Oréal Makeup

Genius, Rimmel Get The Look…)

• Virtual reality tool to design & customize our own sneakers (NikeID in Paris’ flagship

store)

• Chatbots for makeup tips (Sephora), personal styling (H&M), gift searching

(Nordstrom)…

• Yearly subscription for free express delivery (Amazon Prime, Instacart Express,

Fnac+…)

• 1-hour delivery (Amazon Prime Now)

• Reserve or Click & Collect (Sephora, Fnac/Darty, Gap, Celio, Etam …)

• VR headsets in Coach and Tommy Hilfiger stores with full access to latest runway

shows

• Smart mirrors in fitting rooms in Nordstrom, Ralph Lauren, Rebecca Minkoff and Gap

5© iVentures Consulting 2017

Source: iVentures Consulting,

2017

Page 6: RETAIL, FASHION & BEAUTY: HOW COMPANIES DRIVE INNOVATION

Operational innovation

6

New processes, means of

organization and tools to improve

customer experience, productivity,

product & service quality, sales,

reduce costs, etc.

Examples:

• Mass customization (Adidas, Nike, Converse, Zazzle, eSalon, Function of Beauty etc.)

• See now, buy now (Burberry, Tommy Hilfiger, Rebecca Minkoff etc.)

• Artificial Intelligence: machine learning, chatbots etc. (Stitch Fix, H&M chatbot, Sephora

chatbot etc.)

• Fulfillment robots (Amazon, Walmart, Rakuten etc.)

• 3D printing (Adidas, Nike, Under Armour, New Balance etc.)

• 3D design (Under Armour, Adidas, Nike, Theory, Roberto Cavalli etc.)

• Etc.

© iVentures Consulting 2017

Source: iVentures Consulting,

2017

Page 7: RETAIL, FASHION & BEAUTY: HOW COMPANIES DRIVE INNOVATION

Business model innovation

7

Reimagine revenue stream

Examples:• Peer-to-peer resales (Vestiaire Collective, Tradesy and Poshmark in fashion…)

• Subscription (Birchbox for beauty box, The Honest company for ethical baby products,

personal care, cleaning, vitamins…, Dollars Shave Club for razors…)

• Rental (Rent the Runway and Letote in fashion…)

• Trade-in services (Material WRLD in fashion, Nextdoor for neighborhood

communities…)

• Marketplace (Amazon, Farfetch, Fnac/Darty…)

• Personal styling (Stick Fix in fashion….)

• Personal shopper (Instacart, Monoprix, Del Easy in groceries…)

• On-demand services (Glamsquad, Treatwell and Blow in Beauty…)

• Etc.

© iVentures Consulting 2017

Source: iVentures Consulting,

2017

Page 8: RETAIL, FASHION & BEAUTY: HOW COMPANIES DRIVE INNOVATION

9 ways for companies to drive innovation

8

Internal accelerator/

incubator

Accelerator/incubator in

partnership with an

external player

Innovation Lab

Venture Capital fund

Startup acquisition

Partnership with a tech

company

Creation from scratch of

in-house innovative

initiatives

Cultural transformation

program

Innovation prize

© iVentures Consulting 2017

Source: iVentures Consulting,

2017

Page 9: RETAIL, FASHION & BEAUTY: HOW COMPANIES DRIVE INNOVATION

9 ways for companies to drive innovationCultural & Business impact

9

Impact on Culture

(* Low ** Average *** High)★ ★★ ★ ★★ ★★ ★ ★★ ★★ ★★★

Impact on Business

(* Low ** Average *** High)★ ★ ★★ ★★ ★★ ★★★ ★★

★★★ ★★

Level of Maturity

(1 Low – 4 Strong)1 2 2 3 3 3 4 4 4

Inte

rnal

accele

rato

r/

incu

ba

tor

Accele

rato

r /

incu

ba

tor

in

part

ners

hip

with a

n

exte

rna

l p

laye

r

Innovation L

ab

Ventu

re C

apital

fund

Sta

rtup a

cquis

itio

n

Part

ners

hip

with

a t

ech c

om

pany

Cre

atio

n f

rom

scra

tch o

f

in-h

ouse

innovative

initia

tive

Cu

ltu

ral

transfo

rmation

pro

gra

m

Innovation p

rize

© iVentures Consulting 2017

Source: iVentures Consulting,

2017

Page 10: RETAIL, FASHION & BEAUTY: HOW COMPANIES DRIVE INNOVATION

9 ways for companies to drive innovationMaturity levels based on Cultural & Business impact

© iVentures Consulting 2017

Key success factors:

• Setting up innovation

actions with strong value

• Successful implementation

of each action

Innovation prize

Partnership with a

tech company

Creation from

scratch of in-

house innovative

initiatives

Internal

accelerator/

incubator

Accelerator / incubator

in partnership with an

external player

Venture Capital fund

Innovation Lab

Startup acquisition

Cultural

transformation

program

10Source: iVentures Consulting,

2017

Page 11: RETAIL, FASHION & BEAUTY: HOW COMPANIES DRIVE INNOVATION

11© iVentures Consulting 2017

The objective of the following

part is to illustrate through

examples the 9 ways that

companies drive innovation,

based on public information.

The level of maturity of each

referenced company is not

evaluated.

Examples of

innovation actions

driven by groups,

brands and retailers

André Courrèges, Space Age

Collection, 1960’s

Page 12: RETAIL, FASHION & BEAUTY: HOW COMPANIES DRIVE INNOVATION

Innovation award 1/2

• For the next Viva Technology summit related to digital transformation players,

scheduled in Paris in June 2017, LVMH created the LVMH Innovation Award to

stimulate forward-thinking ideas and innovative initiatives that impact product

life cycles and the customer experience. The 32 startups selected will be

invited to join the LVMH popup Lab during the show. They will compete for the

prize created by LVMH. The winner will receive the support of teams from

LVMH and its Maisons to help drive its business development.

• Since 2015, every year, H&M Foundation’s Global Change Award selects 5

winner startups focused on game-changing innovations than can help make

fashion circular and protect our planet. These 5 winners split a grant of €1

million and get access to a one-year innovation accelerator, provided by the

H&M Foundation in collaboration with Accenture and KTH Royal Institute of

Technology (ie. Accelerator in partnership with an external player).

• Since 1992, each year L’Oreal has organized L’Oréal Brandstrorm, an

international multi-field innovation challenge that offers students a pedagogical

and professional experience and the opportunity to innovate within the beauty

industry. 2 teams are designated winners of L’Oréal Brandstorm, one for the

Tech challenge and one for the Brand challenge. Each winner receives a

$10,000 award and is flown to Paris. There, they connect with L’Oreal’s

leaders, and are mentored and coached by L’Oreal executives. The theme of

the 2017 challenge is “Disrupt men’s grooming with life-changing innovation”.

© iVentures Consulting 2017

Maturity: Level 1

12

Page 13: RETAIL, FASHION & BEAUTY: HOW COMPANIES DRIVE INNOVATION

Innovation award 2/2

• In 2012, the L’Oreal USA Women in Digital program launched the “NEXT

Generation Awards”, a competition to support female entrepreneurs and

advance the technology they build. Every year, L’Oréal seeks women-operated

businesses that can help conceive, launch, and scale new technology with the

potential to revolutionize the digital space, drive brand innovation, and shape

the beauty industry’s next generation. 3 finalists are selected and receive a trip

to New York City to present at L'Oréal’s annual Inspiration Day in front of 500

marketers. They also receive recognition in press materials, introductions to

potential investors and L'Oréal executives, mentorship from L'Oréal USA

executives, invitations to network with advisory board members, etc. The grand

prize winner receives a pilot with one of L'Oréal USA’s Brands voted on during

Inspiration Day.

© iVentures Consulting 2017

Maturity: Level 1

13

Page 14: RETAIL, FASHION & BEAUTY: HOW COMPANIES DRIVE INNOVATION

Partnership with a Tech company 1/2

• Levi’s and Google recently joined forces to create the Levi’s Commuter Trucker

jacket, embedded with Google’s ‘Jacquard’ technology, in order to bring

practical purpose to wearables. Jacquard allows wearers to control their mobile

experience and connect to a variety of services, such as music or maps,

directly from the jacket.

• Neiman Marcus partners with Rent the Runway to attract millennial consumers

by bringing a fashion rental concept to the in-store environment. The first Rent

the Runway unit was opened end 2016 at Neiman Marcus’ San Francisco

store, in a spacious 2,500 square foot space with a rotating selection of

dresses that shoppers can rent for special occasions.

• Whole Foods preferred to team up with Instacart rather than create its own

delivery service. Last year, Whole Foods invested in Instacart and signed a 5-

year delivery partnership making Instacart Whole Foods’ exclusive delivery

partner.

• Last September, Google and Zalando launched Project Muze, a machine-

learning experiment for 3D fashion design. Based on Google’s open source

platform TensorFlow, Project Muze is a virtual design engine that enables users

to create hyper-personalized fashion looks powered by machine learning (an

algorithm that learns from data).

© iVentures Consulting 2017

Maturity: Level 2

14

Page 15: RETAIL, FASHION & BEAUTY: HOW COMPANIES DRIVE INNOVATION

Partnership with a Tech company 2/2

• Sephora partners with AR technology provider ModiFace to perfect facial

recognition technology for virtual makeup features in 3D live (Virtual artist) in its

mobile apps, offering customers the opportunity to try on products digitally.

• Since 2015, Apple has partnered with luxury-goods company Hermès to

provide new leather straps for the Apple Watch, called the "Apple Watch

Hermès Collection”.

• Following a successful first attempt at a smartwatch in 2015 (56,000 units

sold), in March 2017 the Swiss manufacturer Tag Heuer launched a new

smartwatch, the Modular Connected 45, in partnership with Silicon Valley

giants Google (Android Wear operating system) and Intel (for the hardware).

Modular 45 features the seamless integration of TAG Heuer’s Swiss

watchmaking heritage. And through its customizable modular design, it keeps

users connected without sacrificing style.

© iVentures Consulting 2017

Maturity: Level 2

15

Page 16: RETAIL, FASHION & BEAUTY: HOW COMPANIES DRIVE INNOVATION

Creation from scratch of in-house innovative initiatives

• 8 years after closing eLuxury.com, LVMH launched 24Sevres.com in June

2017 , a new luxury goods E-Commerce website that features all its brands as

well as external brands, and rely on its department store Le Bon Marché.

• In September 2016, the leading media company launched its own fashion E-

Commerce site Style.com, mixing its own inspirational contents from Vogue,

GQ etc... and commerce. Condé Nast invested $100 million into this venture.

Style.com is based on a marketplace model (no risk and expense of buying

and stocking inventory). Style.com closed in June this year as Condé Nast

partners with the unicorn E-tailer Farfetch.com.

• In early 2016, L’Oréal Luxe (L’Oréal’s luxury division) launched on the French

market its own customizable beauty box offer “Ma Beauté Luxe”, composed of

products from its brands (Lancôme, Kiehl’s, Urban Decay, Giorgio Armani,

Diesel etc.). The targeted results were not achieved, and the initiative was

stopped in January of this year.

© iVentures Consulting 2017

Maturity: Level 2

16

Page 17: RETAIL, FASHION & BEAUTY: HOW COMPANIES DRIVE INNOVATION

Internal accelerator/incubator 1/2

• In March, Walmart launched Store No. 8, a Silicon Valley-based incubator that

funds top entrepreneurs and startups focused on virtual & augmented reality-

enabled shopping, in-store drones, beacon technology, proprietary robotics and

artificial intelligence technology.

• Founded in 2012, L’Oréal's Technology Incubator partners with academics,

startups and tech companies to take the beauty brand digital and create

innovative products. Current projects include sun-protection wearables, skin-

matching app, 3D human skin printing, 2-D-printed nails etc. Among the

incubator’s innovative products already launched are L’Oréal Makeup Genius,

L'Oréal/La Roche Posay My UV Patch and Kerastase Connected hairbrush.

• In January, the leading European E-Commerce player Vente-privee launched

its accelerator Impulse in Paris, to support European startups involved in

imagining tomorrow’s fashion tools and services. First selected startups include

Easysize, Fitle, Shipup, ShorTouch and Wishibam.

© iVentures Consulting 2017

Maturity: Level 3

17

Page 18: RETAIL, FASHION & BEAUTY: HOW COMPANIES DRIVE INNOVATION

Internal accelerator/ incubator 2/2

In February, Nordstrom’s in-store designer boutique Space launched "The Lab," an

incubator to showcase and support new designers in selected stores and online.

Initially created in 2010 by Sephora America’s CEO and based in San Francisco,

Kendo is LVMH’s accelerator for emerging beauty brands. It creates or acquires

beauty brands and focuses on developing them into global powerhouses. The

current portfolio includes Kat Von D Beauty, Marc Jacobs Beauty, Formula X Nail,

OleHenriksen and Bite Beauty.

© iVentures Consulting 2017

Maturity: Level 3

18

Page 19: RETAIL, FASHION & BEAUTY: HOW COMPANIES DRIVE INNOVATION

Accelerator / incubator in partnership with an

external player 1/2

• In May 2016, L’Oréal announced a strategic investment in Founders Factory, a

London-based multi-sector digital accelerator and incubator, to become its

exclusive partner for investments in beauty tech startups worldwide. Each year,

Founders Factory will incubate 5 companies and co-create 2 new companies

from scratch.

• Since September 2015, Target has teamed up with leading tech startup

accelerator Techstars for a 3-month intensive startup accelerator in Target's

hometown of Minneapolis, which is focused on bringing new technology,

experiences, products, and solutions to retail. For each batch, 10 companies

are selected and work with mentors from the Techstars network and within

Target.

• Since June 2016 , French retailer Group Galeries Lafayette (BHV, Louis Pion,

Galeries Lafayette) has partnered with the Silicon Valley startup accelerator

and investor Plug & Play (known for its investments in Paypal and Dropbox) for

a 3-month intensive startup accelerator program, based in Paris. Lafayette

Plug & Play assists 10 startups per batch willing to disrupt fashion and retail by

creating an ecosystem that includes access to venture capitalists, world-class

mentors, and Fortune 500 companies.

© iVentures Consulting 2017

Maturity: Level 3

19

Page 20: RETAIL, FASHION & BEAUTY: HOW COMPANIES DRIVE INNOVATION

Accelerator / incubator in partnership with an

external player 2/2

• In March of this year, French luxury Group Kering (owner of Gucci, Saint

Laurent, Puma …) and Silicon Valley startup accelerator and investor Plug and

Play announced that Kering is the first founding anchor partner of the ‘Plug and

Play - Fashion for Good’ accelerator, a collaboration with Fashion for Good and

the C&A Foundation to fast-track sustainable innovation within the luxury and

apparel industries. First selected startups include Agraloop, Amadou, Dragon,

Dropel, ICA Bremen, Myco Tex, MySource, Pili-bio, RePack, Sundar, Versus

and Tipa.

• Every year since 2015, the 5 winning startups of the H&M Foundation’s Global

Change Award (ie. Innovation Prize), dedicated to changing innovations than

can help make fashion circular and protect our planet, get access to a one-year

innovation accelerator, provided by the H&M Foundation in collaboration with

Accenture and KTH Royal Institute of Technology in Stockholm. The 2017

batch of startups includes Wine Leather, Solar Textiles, Content Thread,

Denim-dyed Denim and Manure Couture.

• Created in 2013 and based in London, Jlab is John Lewis Partnership’s 12-

week accelerator program, created in collaboration with the innovative

specialists L Mark. JLAB is about bringing disruption and innovation to the

retail industry. Its mission is to help innovative startups take their business to

the next level and build a relationship with two of the UK’s leading retail brands:

John Lewis and Waitrose. In 2017, Jlab’s main focus is on food experiences,

in-store experiences, frictionless shopping, healthy living, smarter supply

chains and all innovations that are “so out of this world they can’t be classified.”© iVentures Consulting 2017

Maturity: Level 3

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Page 21: RETAIL, FASHION & BEAUTY: HOW COMPANIES DRIVE INNOVATION

• Launched in 2014 and based in London, Unilever Ventures is the venture

capital and private equity arm of Unilever. The company invests in young,

promising companies, accelerating growth by providing access to Unilever’s

global ecosystem, assets and expertise. Unilever ventures focuses on

tomorrow’s world-beaters in Personal Care and Digital. Among its porfolio are

Instacart, Olapic, Yummly etc.

• Launched in December 2016 and based in Tokyo, Shiseido Venture Partners is

the internal venture capital organization of the Shiseido Company, ready to

invest up to ¥3 billion ($26 million) in startup ventures. The company targets

startups that use beauty-creating technologies, along with ideas and

technologies that communicate beauty and new business structures that

deliver beauty. Its first investment is Dricos in Japan.

• In January of this year, Rebecca Minkoff announced its partnership with

Quotidian Ventures to launch a Fashion Tech fund based in NYC, focused on

early-stage investments in technology, with applications in E-commerce,

Fashion and Retail.

• Created in 2002 and based in Paris, NYC and Shanghai, Creadev is the

venture capital organization of the Mulliez family, owner of leading retail players

Auchan, Decathlon, Kiabi etc… The company invests from €1 million to €80

million in companies focused on Sustainability, Health, Education and Digital.

Venture Capital fund

© iVentures Consulting 2017

Maturity: Level 3

21

Page 22: RETAIL, FASHION & BEAUTY: HOW COMPANIES DRIVE INNOVATION

Innovation lab 1/2

• Considered the king of retail innovation, Amazon has constantly innovated both

horizontally (across product areas and business policies) and vertically (over

supply chain and distribution) and often developed its new products and

services internally. Founded in 2004 in the Silicon Valley, Amazon Lab 126 is

Amazon’s inventive research & development center that designs and engineers

high-profile consumer electronic devices. Among Amazon Lab 126’s

innovations are the Fire tablets, Dash Button, Kindle e-readers, Amazon Fire

TV, and Amazon Echo.

• Created in 2005 in the Silicon Valley, WalmartLabs is the division of Walmart

responsible for accelerating its development in redefining the shopping

experience and meeting the ever-changing needs of customers wherever they

may be, in a store, online and on their mobile device. The WalmartLabs team

collaborates with innovative startups on omnichannel, store leveraging via

mobile, baby registry, store maps, mobile checking, etc.

• Launched in 2014, the Unilever Foundry is Unilever’s platform enabling

startups and innovators to engage, collaborate and explore business ideas with

Unilever and its 400+ brands. The Unilever Foundry has worked on over 100

pilot projects in partnership with innovative startups, to stimulate and facilitate

experimentation within its organization. Unilever’s brands and functions are

continuously adding new briefs to the Unilever Foundry. One of the current

briefs is “Igniting Men’s Grooming Online”. Unilever thinks there is an

opportunity to connect with men online and get them to expand their grooming

repertoire to include face care.

© iVentures Consulting 2017

Maturity: Level 4

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Page 23: RETAIL, FASHION & BEAUTY: HOW COMPANIES DRIVE INNOVATION

Innovation lab 2/2

• Founded in 2012 in Dallas, iLab is Neiman Marcus’ hub for innovation projects;

its goal is to turn technology innovation into a core value and reimagine the in-

store experience, in order to recapture shopper interest and drive traffic back to

its stores. Projects in collaboration with innovative startups include smart

mirrors, cellphone charging stations, visual search, mobile wallet, interactive

shelves etc.

• Created in March 2015 in San Francisco, Sephora’s innovation lab’s objectives

are to create and foster a culture of innovation. Sephora’s lab team

collaborates with innovative startups. The lab is responsible for taking new

product ideas, perfecting them and launching them either in store, online or on

the mobile app. Its approach is to repeat testing in order to identify the right

technology and products to develop. Innovations include for example

augmented reality and chatbot with Sephora Virtual Artist, Beauty Workshop

station in store...

• GapLabs is the division of Gap Inc. responsible for reinventing the shopping

experience across its brand portfolio (Gap, Old Navy, Banana Republic…).

GapLabs’s approach is to listen to and learn from its customers, external

trends and each other, to inspire a culture of empowerment, accountability,

learning and fun, to collaborate with innovative startups across the company

and deliver value to Gap Inc. and its customers.

© iVentures Consulting 2017

Maturity: Level 4

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Page 24: RETAIL, FASHION & BEAUTY: HOW COMPANIES DRIVE INNOVATION

Startup acquisition 1/2

• Since September 2016, Walmart has successively acquired E-Commerce

companies Jet.com (for $3 billion), Modcloth (terms of the deal not disclosed),

Shoebuy (for $70 million) and Moosejaw (for $51 million) and soon Bonobos

(discussions in progress), to accelerate its E-Commerce growth and try to

compete with Amazon.

• In July 2016, consumer goods giant Uniliver bought Dollars Shave Club, the

subscription service that provides monthly new razor delivery to your doorstep,

for $1 billion (5 times its revenue). The goal was to acquire the brand and its

customer-relationship skills with male consumers.

• In September 2014, Neiman-Marcus, the world’s best-known department store,

acquired German-based online fashion retailer Mytheresa (terms of the deal

not disclosed), to accelerate its E-Commerce growth and reach new

customers.

• In August 2014, leading luxury department store Nordstrom bought Trunk Club,

the men’s online personal styling service, for $350 million, to accelerate its E-

Commerce and offer a new experience to its customers.

© iVentures Consulting 2017

Maturity: Level 4

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Page 25: RETAIL, FASHION & BEAUTY: HOW COMPANIES DRIVE INNOVATION

Startup acquisition 2/2

• In January 2016, Hudson’s Bay Co (HBC), owner of Saks Fifth Avenue and

Lord & Taylor, acquired the flash-sales pioneer Gilt Group for $250 million, in

order to strengthen Saks Fifth Avenue’s E-Commerce.

• In November 2015, the watchmaker Fossil acquired wearables maker Misfit for

$260 million, with the goal of becoming the fashion gateway to the high-growth

wearable technology and connected device markets.

• In January 2017, the Japanese beauty giant Shiseido Company acquired

MATCHCo, a US-based beauty tech startup (that provides consumers with

personalized foundation via an app), to be able to quickly respond to

consumers’ demands by offering a new customized experience (terms of the

deal not disclosed).

© iVentures Consulting 2017

Maturity: Level 4

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Page 26: RETAIL, FASHION & BEAUTY: HOW COMPANIES DRIVE INNOVATION

• Every brand and group in Retail, Fashion and Beauty organizes learning

expeditions in technology & digital meccas (Silicon Valley, New York, London,

Tel Aviv, …) for its executive management, in order to foster innovation culture.

Execs meet tech entrepreneurs and learn about tech & digital trends.

• From 2011 to 2015, the luxury group Kering (owner of Gucci, Saint Laurent,

Puma …), ran a digital academy to develop its internal digital culture and train

a population of 400 executives and digital experts, spread over 3 continents,

both online and offline. The program included E-Learning, live training

sessions, learning expeditions, conferences etc…

• In September 2016, cosmetics group Shiseido launched Shiseido +, its digital

academy, to increase the digital proficiency of all Shiseido employees and build

a community of digital talents by 2020. The first season program targets 600

employees in marketing, communication, sales and digital, and is a mix of live

training sessions, e-learning and learning expeditions.

• LVMH regularly organizes Digital Days, the biggest digital event at the group

level. This event is designed to help LVMH Maisons to learn from the latest

digital trends and innovations, exchange on both successful and failed projects,

initiatives and strategies, and transform the way they work and find inspiration

for future business. These digital days include keynotes and testimonies from

digital leaders, new technology presentations, meetings with startups and

workshops.

Cultural transformation program

© iVentures Consulting 2017

Maturity: Level 4

26

Page 27: RETAIL, FASHION & BEAUTY: HOW COMPANIES DRIVE INNOVATION

© iVentures Consulting 2017

Where do we go from

here?

Pierre Cardin space age

collection, 1960’s

Page 28: RETAIL, FASHION & BEAUTY: HOW COMPANIES DRIVE INNOVATION

Where do we go from here? Empower your teams

Innovation strategy and new

products/services roadmap must be

defined and driven at management

committee level:

• Nomination of a feature team in

charge of the innovation/disruption

roadmap

• Team led by a member of the

management committee. Ie :

- Head / VP of Digital

Transformation

- Head/ VP of Innovation

- Head / VP of Disruption &

Growth

- Chief Digital Officer

- Advisor to the CEO

28© iVentures Consulting 2017Pierre Cardin space age

collection, 1960’s

Page 29: RETAIL, FASHION & BEAUTY: HOW COMPANIES DRIVE INNOVATION

Where do we go from here? Write your success stories

© iVentures Consulting 2017

Invest in the future

and structure innovation resources:

• Walmart spends ≈$1B/ year on

innovation (total 2016 Revenue of

$482B included $13.7B in E-

Commerce)

• Fnac/Darty have mutualized their

digital innovation

Define company’s innovation strategy:

• Ambition

• Products & Services roadmap

• Organization (with cross-functional

teams - store and digital)

Implement an innovation process:

• Start by whittling down big ideas

• Review by cross-functional team

(executives, store managers and

associates)

• Create prototypes

• Test in several volunteer stores or

markets

“ Remember that most of the time, your

initiative won’t work. Be patient and

improve, improve, improve…”

Scott Emmons, Head of the Innovation

Lab at Neiman Marcus

29

Page 30: RETAIL, FASHION & BEAUTY: HOW COMPANIES DRIVE INNOVATION

Have any questions?

Looking for advice,

speakers, or just a good

cup of coffee? Don’t

hesitate to contact us…

Paris Christophe Biget

Managing Partner

@cbiget

+33 1 77 19 38 25

7/11 rue de l’Yvette

75016 Paris

San Francisco Aurelia Ammour

Managing Partner

@aammour

+1 (415) 315-9654

1714 Lombard Street

San Francisco CA

94123

[email protected]

www.iventures-consulting.com

www.facebook.com/IventuresConsulting

@iVenturesC

© iVentures Consulting 2017 Peugeot HQ lobby, 1966

Page 31: RETAIL, FASHION & BEAUTY: HOW COMPANIES DRIVE INNOVATION

iVentures Consulting is a Management Consulting company dedicated to Digital transformation and E-Commerce

& Omnichannel in Fashion, Luxury, Beauty and Retail. Founded in 2005 by Aurélia Ammour and Christophe

Biget, iVentures is based in Paris and San Francisco.

• Digital transformation strategy:

Digital integration in all aspects of

business

• E-Commerce & Omnichannel

ecosystem audit and strategy

definition

• Innovation strategy: Market watch,

Lab/ Accelerator, Startup ecosystem

• Support to deployment

C O N S U LT I N GB U S I N E S S

I N T E L L I G E N C E

• Top Management digital

transformation program w/ Ecole 42

• Digital academy

• Reverse mentoring

• Digital day/ tribune

• Learning expedition

C U LT U R A L

T R A N S F O R M AT I O N

• E-Shopper Index: Ranking &

Analysis of leading companies’ E-

Commerce performances throughout

the customer journey

• Deep dive analysis: E-Commerce &

Omnichannel performances

optimization

Beauty: Clarins, Diptyque, Feelunique.com, Lancôme, L’Oréal Paris, LVMH Perfumes & Cosmetics, Nocibé, Paco Rabanne, Puig,

Sephora, Yves Rocher.

Fashion & Luxury: Baccarat, Boucheron, Céline, Esprit, Givenchy, IKKS, Just One Eye, Kering Group, Lacoste, LVMH Group,

Loewe, Moët Hennessy, Vilebrequin.

Retail: Carrefour, Darty, Fnac, Micromania/ Gamestop, Monoprix, Stokomani, Tati, Truffaut.

About iVentures Consulting

31© iVentures Consulting 2017

M A I N C L I E N T S

Page 32: RETAIL, FASHION & BEAUTY: HOW COMPANIES DRIVE INNOVATION

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32© iVentures Consulting 2017