Collaboration has proven to be a favored way to supercharge innovation. Companies of all sizes are participating in partnerships with complementary brands or businesses with great success. Consumers have been receptive to the collaborative approach for a while now and anxiously await their favorite brand's next collaboration.
H&M is well-known for their collabs with high end designers, like Balmain, with customers lining the streets for a limited number of specially made, designer pieces at H&M prices. For an optimal collaboration situation, it is important to leverage both businesses and provide advantages for both parties.
If you are considering a collaboration to increase your sales, you need to think about how you can benefit your collaborative partner. Can you bring them a wider consumer audience than they can reach on their own, as was the case for Balmain when partnering with a mass market retailer like H&M? Can you bring them a niche product specific to their target audience? Whatever it is, make sure you would take on the collaboration if you were in the other company's shoes.
At Anjé, we are all about joining forces and creating newness. From our partnerships with influencers and boutiques to our virtue partners and colleagues, you can look forward to some exciting collaborations throughout the coming year.
Our Virtue Collective is a collaboration of sorts, where we partnered with Virtueconomy to help a meaningful nonprofit, The Kota Alliance, broaden and deepen their impact and aid in creating long-term self-sustainability. Shop the Virtue Collective below!