The fashion industry is notorious for its lack of diversity. A new blockchain-powered platform aims to change that by connecting designers and consumers, while also providing a way for brands to gain more exposure.
The funniflix is a website that allows users to upload videos of themselves and other people, which are then shown on the site’s homepage.
People stealing your ideas or designs is a terrible thing in almost every area of business. Even illegal. In the fashion industry, however, not only is copying allowed, but some even argue that it is good. Imitation, as the old adage goes, is the sincerest form of flattery. It turns out that it’s also the greatest source of job stability.
The fashion industry has attempted to combat copycats on many occasions, as noted on the Freakonomics blog last week. Keep in mind that we’re talking about duplicating designs here. Copying labels and attempting to pass them off as genuine is obviously unlawful, and no one is arguing that it should be otherwise. Limits, however, are not only unneeded, but also detrimental to the business, according to Kal Raustiala and Chris Sprigman (both counterfeiting and intellectual property specialists).
…part of the reason why copying is allowed is because copying has hidden advantages in the fashion industry. As we all know, fashion trends come and go in a never-ending cycle. That is the nature of the fashion industry. As replicas of popular or notable clothes become more widely available, fashion-conscious customers realize that it’s time to move on to the next big thing. The fashion cycle is speeding up.
It’s a one-of-a-kind scenario. Using the Oscars as an example, you have millions of home viewers watching movie stars wear high-end designer gowns. However, with prices ranging in the hundreds of dollars, the ordinary individual will never be able to buy anything shown on the red carpet. However, what the general population wants to purchase is influenced by the trends shown on the red carpets and in gossip magazines (where we see more celebrities wearing more beautiful, and fabulously costly, clothing). And what they do purchase as a result of the availability to copying.
So, if you purchase a knockoff of Sandra Bullock’s dress when you’ll never be able to afford the genuine one anyhow, does it hurt the original designer? Or does it benefit the designer, whose work is now more widely recognized, admired, and sought after once it has been shown to generate customer demand?
Then, just as all of the prom-going high students have finished wearing that fashionable item, the next hot new thing appears. And the designer triumphs once again. Their initial design was a success, and now there’s a demand for their new “hot” item, which will be worn by the wealthy and famous before trickling down to the people. Again.
According to Raustiala and Sprigman:
The basic truth is that the fashion business in the United States is bursting at the seams with creativity. Thousands of designers are working on new designs right now in studios throughout New York and Los Angeles. They’re also busily “interpreting” and imitating each other. And that’s a good thing.
Raustiala and Sprigman wrote about what they term “the pirate conundrum” in a previous article on the Freakonomics blog:
To summarize, the fashion business generates trends through imitating. Fashion is sold on the basis of trends. As a result, fashion designers’ freedom to imitate does not damage the business and, in fact, may be one of the keys to its long-term success.
Consider that for a moment. You don’t want rivals or imitators to take your ideas and sell them to your consumers. Regardless of the industry. However, there are instances when being duped may work in your advantage. Can you picture a situation like that happening in your company?
Palo Alto Software’s Jay Snider
The funniflix mimi stuck at home is a story of one fashion designer who got caught in the middle of a fashion faux pas.
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- lola and haschak sisters
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