The business climate is becoming more and more challenging, and as a result, many companies are opting to look at other industries for growth and expansion. The trend snacks below look at how businesses are forming alliances with one another to overcome the problems they are facing in these dire economic times or even venturing into fields completely different from their current ones. Continue reading to see the innovative ways global companies are trying to stay afloat or ahead of the pack.
Stationery manufacturing company, Moleskine and travel company, Unsettled have joined forces to create coworking retreats around the world for freelancers who want to connect with others or just need a change of scenery. They are targeting those who work remotely, are going through career transitions or are on sabbatical. There is no age limit: individuals from 20 to 60+ can sign up to go. The retreats offer nomadic workers homestyle accommodation and a productive coworking environment. A month’s stay has been curated by an “experience leader” or local expert, so that visitors not only enjoy working there, but get to interact with the culture and people of the area. This is a good example of a successful pivot: a stationery company making a smooth transition into the travel industry to ensure that it remains relevant to its customers.
Above: A glimpse into the Unsettled – Moleskine Retreats.
Italian luxury fashion house Fendi has created a mobile game to keep its Chinese customers engaged with its content, but most importantly, to reward them for brand loyalty. The Fendi Ways to Rome mini-game is hosted on popular mobile app, WeChat, with Xu Weizhou, the Chinese actor, singer-songwriter and Fendi Peekaboo bag spokesperson starring as its main character. The game is the Fendi’s version of Nintendo’s Super Mario and features Xu’s avatar jumping up to collect Fendi coins. The game has built-in incentives like a free three-night trip to Rome or smaller gifts for those who discover hidden information while playing. This solid pivot from fashion into gaming speaks to a younger generation which wants to be rewarded for brand loyalty.
The Stylist Group , a London-based female-focused content development brand, has expanded by opening a fitness studio for busy urban women. The intention is that the space will generate ad revenue and content for the group’s platforms, but will also meet the mental and physical needs of members. The focus will be on strength training to challenge the stigma surrounding women who engage in more robust forms of exercise. The fitness programmes are tailored by Joslyn Thompson, Nike Global’s Master Trainer . These programmes have been designed to encourage and inspire women to believe that no matter their physical strength, they too can reach optimum fitness. This pivot is interesting in that it illustrates how a boutique media brand can move from its regular space and claim territory in an industry that is set to grow by 8.7% globally .
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