Snapchat Is Set To Take Over The Fashion Industry, Then The World
Back in September, Cara Delevigne launched Burberry’s Snapchat during Fashion Week in order to bring backstage views to the masses. Since then, multiple fashion outlets have debuted exclusive footage or coverage on Snapchat, bringing The New York Times to pose a question — how will the fashion industry integrate Snapchat into their process, business and reaching their target demographics?
The company, which launched in 2011, has since “become a powerful social media platform with a $16 billion valuation and rumored plans of a public offering. It currently delivers more than seven billion video clips a day among its 100 million active users, most of whom are between the ages of 18 and 24.”
Snapchat’s youth-driven demographic makes sense, since co-founder and CEO of Snapchat (also the newest boyfriend of Miranda Kerr) Evan Spiegel, is the world’s youngest billionaire. And today, Snapchat signed a deal to partner with Viacom, the ginormous media conglomerate that will now sell advertising for Snapchat. This is a big deal.
“We live in unprecedented times,” Gary Vaynerchuk, the founder of VaynerMedia, told Quartz. “A media conglomerate like Viacom never would have rented its salesforce to a social-media platform that’s less than five years old.”
But brands and large companies aren’t the only ones profiting from Snapchat. Actually, “[when] it comes to financial returns, it is the unexpected new wave of underground “influencers” — rather than billion-dollar companies — that appear to be reaping concrete rewards, via old-fashioned product endorsements.”
The Times spoke to a 12-year-old boy from Manchester, England, who said he never followed huge fashion brands, but did stay up-to-date with people who had the inside scoop on streetwear trends and product releases. “I realized I could set up a similar sort of business myself, by selling sneakers from my account — last week alone I made 300 pounds…if someone famous posts a snapchat of themselves wearing a shoe, then the price goes up by a third overnight. There is a fashion business booming on Snapchat and anyone can have a hand in it.”
Still, maybe check out Fashionista’s list of brands to follow on Snapchat. “Serious props to Teen Vogue, Elle and Allure for consistently delivering fun, behind-the-scenes action, and to beauty brands like Too Faced and Birchbox for getting their hands (and forearms) dirty for the sake of snap-ertainment.”
And just in case you weren’t sure—Fashionista introduced their list with these words: “For the purposes of this story, DJ Khaled is not a brand.”