To adapt to rapid market shifts, Rebecca Minkoff accelerated pre-existing plans to rebalance brick-and-mortar and wholesale toward a more direct-to-consumer model. The brand also streamlined its social media strategy, focusing on high-performing content featuring Rebecca herself to drive engagement and revenue. This episode offers valuable lessons on agile business adaptation and authentic brand leadership during a crisis.
Key takeaways
Re-evaluate your sales channels to prioritize DTC, even if it means accelerating pre-existing plans, to gain more control and direct customer relationships.
Double down on social media content that demonstrably drives revenue and engagement, even if it means narrowing your content pillars to focus on what works.
Leverage the personal brand of the founder or key figures to create authentic connections and drive sales, as this can be a powerful revenue driver.
Be prepared to adapt quickly and make tough strategic decisions in response to external market pressures, turning crises into opportunities for accelerated change.
For Rebecca Minkoff, the coronavirus pandemic is a chance for her namesake business to accelerate pre-existing plans.
That starts with reexamining the brand's dependence on its own brick-and-mortar stores versus wholesale. "We always had a plan to have the ratios be more equal, and I think this has forced that to happen," Minkoff said on the Glossy Podcast. "I see a strong desire to return to physical retail when this is all over."
The tighter focus also extends to the brand's social media strategy. The content that's been proven to work on shut-in customers, she said, usually features Minkoff herself. "I'm not trying to sound egotistical, but that's what drives the revenue and the clicks and the sales," she said. "So we're saying, 'Enough with any other type of franchise or content pillars; we are going to do what works and what gets the customer excited.'"
Minkoff talked about how she's helping to focus attention on smaller, women-owned businesses, what she thinks of TikTok and why she had to take the podcast interview from her bathroom floor.
Re-evaluate your sales channels to prioritize DTC, even if it means accelerating pre-existing plans, to gain more control and direct customer relationships.
What does this episode say about retail & omnichannel?
Double down on social media content that demonstrably drives revenue and engagement, even if it means narrowing your content pillars to focus on what works.
What does this episode say about brand & content?
Leverage the personal brand of the founder or key figures to create authentic connections and drive sales, as this can be a powerful revenue driver.
What does this episode say about founder & leadership?
Be prepared to adapt quickly and make tough strategic decisions in response to external market pressures, turning crises into opportunities for accelerated change.
