If 2023′s biggest flameouts taught the fashion industry anything, it’s that companies neglect their brand identity at their own peril.
Farfetch’s fire sale to Coupang, had many causes, but a big one was its inability to build a cohesive brand identity, even as it built a commanding lead in the luxury e-commerce market. Allbirds, which sold truckloads of wool runners via ubiquitous social media ads, saw its stock sink to record lows….