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Each week, Padilla’s Insights + Strategy team stands at the intersection of people, culture and brands to bring you five stories that you can read in five minutes.
1. Forever 21 and the fall of fast fashion
Forever 21 recently announced that they have filed for bankruptcy. Why should you care? Experts say the worst mistake made by Forever 21 was failing to appeal to Gen Z customers. Gen Z’s are looking for affordable, unique clothing, but they are also sustainability-inclined: 94% of Gen Z believe companies should help address social and environmental issues. In addition, the online and in-store experiences were not up to par. The fast fashion world is changing fast. [Business Insider]
2. Uber 2.0
Uber just launched an app to connect temporary workers with jobs. Why should you care? Uber is looking for a way to diversify their products while keeping to their core mantra of creating an efficient marketplace. Workers will be able to compare job locations, conditions, pay and hours before signing up for a job, while companies will benefit by receiving a vetted pool of qualified workers. [NBC]
3. Fashionably hydrated
Water bottles have become the latest eco-friendly status symbol. Why should you care? The water bottle has been elevated to a fashion accessory similar to a purse. Companies like Prada and Supreme have begun making reusable water bottles. Guests at fashion weeks last month were photographed with water bottles in a strap around their shoulder or attached to their purse. Holding an eco-friendly water bottle symbolizes status, health consciousness and sustainability concerns. [Wall Street Journal]
4. Gender and racing
Tatiana Calderon is a test driver for the Alfa Romeo Formula 1 Team and racer for BWT Arden in FIA Formula 2. Why should you care? She is the first woman poised to race in Formula 1 in 43 years. While industries push to move forward in a #metoo world, instances like this are a good reminder that progress happens in different ways at varying paces. Companies who haven’t been touched by the Year of the Woman or #metoo should continue to consider how these movements may impact their brand and industry. [Forbes]
5. Scotch with a capsule chaser
Glenlivet, in partnership with London bar Tayer + Elementary, has released three flavors of whisky capsules. Why should you care?
The capsules are being made out of seaweed and marketed as glassless cocktails. To consume, drinkers must bite into the capsule, sip the drink and then swallow the capsule. This is the company’s way of addressing the growing trend of sustainability and concern for the environment. Furthermore, it is a creative re-imagining and fun thought experiment for innovation by pushing the boundaries of something that wasn’t necessarily “ripe for disruption”: single malt Scotch. [Food and Wine]
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