March 25th 2020
Words by Emily Batters
Coming this April 2020. Farfetch, the London based online marketplace, is launching a new home for weekly global drops, named BEAT. To bring unique fashion and sneakers to consumers globally in what is the biggest implementation of a drop-style distribution system since Moncler Genius in February 2018.
“Many luxury brands are evolving their strategies, and we expect an even greater shift in the industry away from traditional cycles to a drop model,” explains Stephanie Phair, chief customer officer at Farfetch.“Very limited releases and surprise drops are concepts that are endemic to sneaker and streetwear culture,” says John McPheters, co-founder and co-CEO of Stadium Goods.
It will also sell one-off or non-production pieces, and create limited-run capsules and exclusive product. This drop style business model is key to creating hype around a brand a product. When customers know that there is limited availability of something it causes a frenzy to become a customer that owns a rare item from one of these drops. Look at how supreme created an empire by being the first brand to really perfect the drop-model. Their drops see customers come from far and wide to queue outside the shop with the hopes of getting their hands on a new item.