How to Build an Effective Rewards Programme

Forgotten Beauty Brands Are Conglomerates' Biggest Opportunity

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WHAT YOU NEED TO KNOW TODAY: TUESDAY, AUGUST 1, 2023 Online brands are innovating on loyalty programmes by personalising incentives and offering early access rather than discounts. Global beauty giants like L'Oréal and Coty are focused on reviving sleeper lines at the top end of the market. Birkenstock owner L Catterton plans an initial public offering that will value the shoe brand at more than $8 billion. Adidas extended its sponsorship contract with Manchester United, a deal worth at least $1.2 billion. Amazon said it will double the number of same-day delivery facilities in the coming years.

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DIRECT-TO-CONSUMER Building a Rewards Programme That Keeps Fickle Customers Coming Back By Malique Morris Facing a competitive landscape and unpredictable online shoppers, brands can no longer rely on a traditional points-based offering to drive repeat purchases. READ MORE

BEAUTY What is the Next Great Luxury Beauty Brand? By Rachel Strugatz

After a series of multi-billion dollar M&A deals, global beauty giants are taking an alternative route: reviving sleeper labels at the top end of the market. READ MORE

'Fashion Is Inherently Political': The Woman Mixing Palestinian Design With Sustainable Clothing READ MORE

Birkenstock Owner Plans September IPO at $8 Billion Value READ MORE

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NEWS BRIEFS Dr. Martens Shares Rise on Report of Stake Building by Activist Investor Charlotte Tilbury Collaborates with Disney, Opens Selfridges Pop-Up Adidas Signs £900 Million Shirt Deal With Manchester United Amazon Doubling Same-Day Delivery Facilities in Push for Speed

BoF PROFESSIONAL

Inside Hermès' Best-In-Class Leather Goods Strategy This year, Hermès' stock price has soared, lifting the company's market capitalisation above $200 billion — more than that of Nike, the world's biggest fashion brand by revenue — for the first time. BoF's case study, Inside Hermès' Best-in-Class Leather Goods Strategy, breaks down Hermès' leather goods success, exploring how it protects and grows the hero category while creating stability, profitability and self-determination in a fast-moving, competitive luxury fashion market — offering lessons for brands at every scale. READ NOW

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