NYC's 'Power Brands' Unite: How Independent Designers Are Thriving in a Challenging Retail Landscape

NYC's 'Power Brands' Unite: A Night of Fashion & Community at Hotel Chelsea

Executives from some of New York's most influential independent fashion brands gathered at the Hotel Chelsea in Manhattan last week for a special dinner hosted by The Business of Fashion (BoF) and Lyst. The event celebrated the city's power brands and how they are navigating the challenging retail landscape while connecting with their customers.

Lyst, a fashion shopping platform, has been instrumental in driving brand success online since its inception in 2010. The platform now serves over 160 million shoppers annually and partners with over 17,000 leading brands. It leverages a proprietary data engine to personalize the shopping experience for consumers and provide valuable insights to its brand partners.

Lyst CEO Emma McFerran highlighted the company's focus on elevating the entire shopping experience, making it easy, entertaining, and deeply personal. “We’re not just providing access to shoppers, we’re also finding ways to build deeper, richer connections with those targeted audiences,” McFerran said. “Brands are coming to us wanting to tell their story to our customer, because we’re working to create meaningful content and recommendations that can resonate with today’s ‘overserved’ shoppers. Lyst brings the ecosystem together, and we want to help set brands apart.”

Building Authentic Connections in a Digital World

The conversation at the dinner touched on the importance of building authentic connections with customers in a digital world where attention is constantly being pulled in multiple directions. Robert Rizzolo, Chief Merchandising Officer at Marc Jacobs, emphasized that there's no one-size-fits-all approach to connecting with consumers.

“There is no standard winning formula in connecting with customers. You don’t need to do what everyone else is doing, and there’s a component of it that truly needs to be about fun,” he said. “Do right by your consumers, foster that connection, and you will see buy-in from shoppers. Everyone is looking for authenticity and a connection with a brand that feels true and honest.”

Estelle Bailey-Babenzien, Co-Founder of Noah, echoed this sentiment, sharing that they prioritize customer connection as they expand their brand's reach globally.

“With Noah, we always wanted to retain the feel and intimacy of a mom-and-pop store — and holding on to that as we grow is a key focus for us,” she said. “We’re not trying to build a massive brand to sell it and cash in — this is our journey to becoming a heritage brand and building a lasting community.”

Honoring New York City's Creative Spirit

The dinner also celebrated the unique spirit of New York City and its role in fostering creativity and community. Honor Brodie, Creative Director at Tory Burch, highlighted the city's energy and resilience, particularly in the post-pandemic era.

“New York is such an incredible hive of activity and source of inspiration,” Brodie said. “There’s a spirit to the city that, post-pandemic, is being rebuilt with such vibrancy. In a digital world, tangible connections are still so key.”

Jacques Agbobly, Founder and Creative Director of Agbobly, spoke about the importance of community in his brand's growth and the role of New York Fashion Week in showcasing culture and community.

“My brand has been rooted in community since the very beginning. I was able to get my first studio thanks to donations via a fundraiser on Instagram,” he said. “Today, I’m focused on designing for that community and keeping them involved. This is why New York Fashion Week is so important. It puts culture and community on display, and it’s this storytelling that inspires me.”

Mimi Fukuyoshi, Senior Vice President of US Retail & Wholesale at Tom Ford, emphasized the importance of focusing on core high-spending customers to drive growth and retention in a competitive market.

“Our reality in 2024 is that a very small percentage of our clients make up a significant portion of our business,” she said. “We are continuing to concentrate our efforts on building the experience for those core high-spending customers. That retention is key.”

The event served as a testament to the enduring power of New York City's fashion scene and its commitment to fostering creativity, community, and connection in an ever-evolving digital landscape.