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Ski-chic Strategy – Moncler, North Face & Canada Goose

Interesting video from the FT on Moncler, above. London’s more tony neighbourhoods of Chelsea and Belgravia have seen an explosion of thick down jackets over the past three years, mostly colourful, all with the same logo on them. They are worn as much by macho Eurotrash as Yummy Mummies. The brand is seemingly reaching a tipping point, where exclusivity leads to a bling reputation, where mass acceptance is quickly followed by mass exodus. La Martina has done a good job of steering clear of such waters, as we reported on in a state of retail article. While Moncler considers its IPO and a strategy for selling hot coats in Hawaii, North Face takes a completely different tack, embracing its mass appeal while still communicating an aspirational feel by showcasing the demanding professionals who use their apparel. Canada Goose, another recent entrant into the winter sportswear / city chic market, has also seemed to have had a burst of popularity recently. Zeitgeist saw no fewer than a dozen such coats around Soho and Chelsea this past weekend. An interview with the CEO of the company earlier this year described the strategy thus: “By focusing on the made-in-Canada, used-in-Canada story behind the coats, people would clamour for them.”

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Twitter activity already points to Moncler having a ‘bling’ reputation. Investors will be hoping this can this be nipped in the bud before it is too late.

It will be interesting to see what happens to Canada Goose as it develops; whether it will try to emulate the more ritzy path of Moncler or the performance-related one of North Face. Zeitgeist doesn’t see many people in Europe on the ski slopes wearing Moncler, and doesn’t see many players on the polo field wearing La Martina (unless they are a sponsor). North Face, on the other hand, seems to have a deeply-seated place among hikers and skiiers, particularly in North America. Time – and a sound strategy – will tell whether Moncler retains its exclusive airs.

The state of retail

January 6, 2013 7 comments
CNBCBlackFriday

The love of the bargain is what drives them… Click for CNBC’s coverage

It’s a common fallacy to think of a time before a change in status quo as somehow being magically problem-free. A Panglossian world where all was well and nothing needed to change, and wasn’t it a shame that it had to. Similarly, we cannot blithely consign the retail industry of the past to some glorious era when everything was perfect; far from it. The industry has been under continual evolution, with no absence of controversy on the way. It was therefore a timely reminder, as well as being a fascinating article in its own right, when the New York Times provided readers recently with a potted history and a gaze into the future of Manhattan department store stalwart, Barneys. Not only is their past one in which the original proprietor sought to undercut his own suit suppliers, creating a bootlegging economy by literally ripping out their labels and replacing them with his own, but it was also one where department stores served a very different purpose to what they do today. They had less direct competition, not least unforeseen competition in the form of shops without a physical presence. Moreover, today they are run in an extremely different way, with an arguably much healthier emphasis on revenue (though some might say this comes at the expense of a feeling of luxury, in a lobby now brimming with handbags and little breathing room). The problems and opportunities for Barneys could serve as an analogy for the industry of which it is a part.

Despite brief reprieves such as Black Friday (click on headline image for CNBC’s coverage), as well as the expected post-Christmas shopping frenzy, can one of the main problems affecting retail at the moment simply be that it is undergoing an industry-wide bout of creative destruction? Zeitgeist has written about the nature of creative destruction before, and whether or not that is to blame for retail’s woes, the sector is certainly in the doldrums. In the UK, retailers are expecting a “challenging” year ahead. Recent research from Deloitte shows 194 retailers fell into administration in 2012, compared with 183 in 2011 and 165 in 2010. So, unlike the general economy, which broadly can be said to be enjoying a sclerotic recovery of sorts, the state of retail is one of continuing decline. How did this happen, and what steps can be taken to address this?

Zeitgeist would argue that bricks and mortar stores are suffering in essence due to a greater amount of competition. By which, we do not just mean more retailers, on different platforms. Whether it be from other activities (e.g. gaming, whether MMOs like World of Warcraft or simpler social gaming like Angry Birds), or other avenues of shopping (i.e. e-commerce, which Morgan Stanley recently predicted would be a $1 trillion dollar market by 2016), there is less time to shop and more ways to do it. The idea of going to shop in a mall now – once a staple of American past-time – is a much rarer thing today. It would be naive to ignore global pressures from other suppliers and brands around the world as putting a competitive strain on domestic retailers too. Critically, and mostly due to social media, there are now so many more ways and places to reach a consumer that it is difficult for the actual sell to reach the consumer’s ears. This is in part because companies have had to extend their brand activity to such peripheries that the lifestyle angle (e.g. Nike Plus) supercedes the call-to-action, i.e. the ‘BUY ME’. The above video from McKinsey nicely illustrates all the ways that CMOs have to think about winning consumers over, which now extend far beyond the store.

If we look at the in-store experience for a moment without considering externalities, there is certainly opportunity that exists for the innovative retailer. Near the end of last year, the Financial Times published a very interesting case study on polo supplier La Martina. The company’s origins are in making quality polo equipment, from mallets to helmets and everything in between, for professional players. As they expanded – a couple of years ago becoming the principle sponsor of that melange of chic and chav, the Cartier tournament at Guards Polo Club – there came a point where the company had to decide whether it was going to be a mass-fashion brand, or remain something more select and exclusive. As the article in the FT quite rightly points out, “Moving further towards the fashion mainstream risked diluting the brand and exposing it to volatile consumer tastes.” The decision was made to seek what was known as ‘quality volume’. The company has ensured the number of distributors remains low. Zeitgeist would venture to say this doesn’t stop the clothing design itself straying from its somewhat more refined roots, with large logos and status-seeking colours and insignia. Financially though, sales are “growing more than 20% a year in Europe and Latin America”, which is perhaps what counts most currently.

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Louis Vuitton’s ‘L’ecriture est un voyage‘ is a good example of experimental thinking and missed opportunities

In the higher world of luxury retail, Louis Vuitton is often at the forefront (not least because of its sustained and engaging digital work). While we’re focusing purely on retail environments though, it was interesting to note that the company recently set up shop (literally) on the left bank of Paris; a pop-up literary salon, to be precise. Such strokes of inspiration and innovation are not uncommon at Vuitton. They help show the brand in a new light, and, crucially, help leverage its provenance and differentiate it from its competition. Sadly, when Zeitgeist went to visit, there was a distinct feeling of disappointment that much more could have been done with the space, which, while nicely curated (see above), did little to sell the brand, particularly as literally nothing was for sale. The stand-out piece, an illustrated edition of Kerouac’s On the Road, by Ed Ruscha, Zeitgeist had seen around two years ago when it was on show at the Gagosian in London. Not every new idea works, but it is important that Louis Vuitton is always there at the forefront, trying and mostly succeeding.

So what ways are there that retailers should be innovating, perhaps beyond the store? One of the more infuriating things Zeitgeist hears constructed as a polemic is that of retail versus the smartphone. This is a very literal allusion, which NBC news were guilty of toward the end of last year. “Retail execs say they’re winning the battle versus smartphones”, the headline blared. What a more nuanced analysis of the situation would realise is that it is less a case of one versus the other, than one helping the other. The store and the phone are both trying to achieve the same things, namely, help the consumer and drive revenue for the company. Any retail strategy should avoid at all costs seeing these two as warring platforms, if only because it is mobile inevitably that will win. With much more sound thinking, eConsultancy recently published an article on the merits of providing in-store WiFi. At first this seems a risky proposition, especially if we are to follow NBC’s knee-jerk way of thinking, i.e. that mobile poses a distinct threat to a retailer’s revenue. The act of browsing in-store, then purchasing a product on a phone is known as showrooming, and, no doubt aided by the catchy name, its supposed threat has quickly made many a store manager nervous. However, as the eConsultancy article readily concedes, this trend is unavoidable, and it can either be ignored or embraced. Deloitte estimated in November that smartphones and tablets will yield almost $1bn in M-commerce revenues over the Christmas period in the UK, and influence in-store sales with a considerably larger value. That same month in the US, Bain & Co. estimated that “digital will influence more than 50% of all holiday retail sales, or about $400 billion”. Those retailers who are going to succeed are the ones who will embrace mobile, digital and their opportunities. eConsultancy offer,

“For example, they could prompt customers to visit web pages with reviews of the products they are considering in store. This could be a powerful driver of sales… WiFi in store also provides a way to capture customer details and target them with offers. In fact, many customers would be willing to receive some offers in return for the convenience of accessing a decent wi-fi network. Tesco recently introduced this in its larger stores… 74% of respondents would be happy for a retailer to send a text or email with promotions while they’re using in-store WiFi.”

These kind of features all speak more broadly to improving and simplifying the in-store experience. They also illustrate a trend in the blending between the virtual and physical retail spaces. Major retailers, not just in luxury, are leading the way in this. Walmart hopes to generate $9bn in digital sales by the end of its next fiscal year. CEO Mike Duke told Fast Company, “The way our customers shop in an increasingly interconnected world is changing”. This interconnectedness is not new, but it is accelerating, and the mainstream arrival of 4G will only help spur it on further. The company is soon to launch a food subscription service, pairing registrants with gourmet, organic, ethnic foods, spear-headed by @WalmartLabs, which is also launching a Facebook gifting service. At the same time, it must be said the company is hedging its bets, continuing with the questionable strategy of building more ‘Supercenters’, the first of which, at the time a revolutionary concept, they opened in 1988.

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One interesting development has been the arrival of stores previously restricted to being online into the high street, something which Zeitgeist noted last year. This trend has continued, with eBay recently opening a pop-up store in London’s Covent Garden. These examples are little more than gimmicks though, serving only to remind consumers of the brands’ online presence. Amazon are considering a much bolder move, that of creating permanent physical retail locations, if, as CEO Jeff Bezos says, they can come up with a “truly differentiated idea”. That idea and plan would be anathema to those at Walmart, Target et al., who see Amazon as enough of a competitor as it is, especially with their recent purchase of diapers.com and zappos.com. It serves to illustrate why Walmart’s digital strategies are being taken so seriously internally and invested in so heavily. Amazon though has its own reasons for concern. Earlier in the article we referenced the influence of global pressures on retailers. Amazon is by no means immune to this. Chinese online retailer Tmall will overtake Amazon in sales to become the world’s largest internet retailer by 2016, when Tmall’s sales are projected to hit $100 billion that year, compared to $94 billion for Amazon. The linked article illustrates a divide in the purpose of retail platforms. While Amazon is easy-to-use, engaging and aesthetically pleasing, a Chinese alternative like Taobao is much more bare-bones. As the person interviewed for the article says, “It’s more about pricing – it’s much cheaper. It’s not about how great the experience is. Amazon has a much better experience I guess – but the prices are better on Taobao.”

So how can we make for a more flexible shopping experience? One which perhaps recognises the need in some users to be demanding a sumptuous retail experience, and in others the need for a quick, frugal bargain? Some permutations are beginning to be analysed, and offered. Some of these permutations are being met with caution by media and shoppers. This month, the Wall Street Journal reported that retailer Staples has developed a complex pricing strategy online. Specifically, the WSJ found, it raises prices more than 86% of the time when it finds the online shopper has a physical Staples store nearby. Similar such permutations in other areas are now eminently possible, thanks in no small part to the rise of so-called Big Data. Though the Staples price fluctuations were treated with controversy at the WSJ, they do point to a more realistic supply-and-demand infrastructure, which could really fall under the umbrella of consumer ‘fairness’, that mythical goal for which retailers strive. Furthemore, being able to access CRM data and attune communications programmes to people in specific geographical areas might enable better and more efficient targeting. Digital also allows for a far more immersive experience on the consumer side. ASOS illustrate this particularly well with their click-to-buy videos.

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As the Boston Consulting Group point out in a recent report, with the understated title ‘Digital’s Disruption of Consumer Goods and Retail’,  “the first few waves of the digital revolution have upended the retail industry. The coming changes promise even more turmoil”. This turmoil also presents problems and opportunities for the marketing of retail services, which must be subject to just as much change. If we look at the print industry,  also comparatively shaken by digital disruption, it is interesting to note the way in which the very nature of it has had to change, as well as the way its benefits are communicated. It is essential that retailers not see the havoc being waged on their businesses as an opportunity to ‘stick to what they do best’ and bury their head in the sand. This is the time for them to drive innovation, yes at the risk of an unambitious quarterly statement, and embrace digital and specifically M-commerce. What makes this easy for those companies that have so far resisted the call is that there is ample evidence of retailers big and small, value-oriented to luxury-minded, who have already embraced these new ideas and platforms. Their successes and failures serve as great templates for future executions. And who knows, the state of retail might not be such a bad one to live in after all. Until the next revolution…

Obama and Brands – Jumping on the electoral bandwagon

Zeitgeist was resting easy this morning with the news that Obama had been re-elected for another four years. Before the tickertape had even fallen though, marketing managers were thinking of how they could take advantage of this national event. Leveraging, tapping into or piggybacking on a particular theme is a popular move, though it can be risky, as the recent brand activity around Sandy proved. So it’s nothing new. Nevertheless, this was a quick turnaround. For though Obama did not give his acceptance speech until around six hours later, Lacoste was ready with their latest iteration of their eCRM programme at around 7pm EST. Presented as an email to get people to “vote” for a red or blue polo, the pre-header said it all; “You’ve Picked Your President – Now, Pick Your Polo!

For Luxury, what price service?

October 28, 2012 5 comments

Whither the sage of a shop assistant? At a time when we as consumers have access to all the information we could want about a brand and its products via our smartphones, of what use is it to have someone tell me something that I am unlikely to take at face value, working as they are for said brand? Why even bother being in the store at all when I can be buying my item at home? The luxury goods company PPR (owners of Gucci, Saint Laurent Paris, Balenciaga et al.) could be said to have recently adopted a similar mindset. A new joint venture with e-tailer Yoox is sure to shake things up. Honcho Francois-Henri Pinault said recently, “While the whole industry has been resisting e-commerce for the last 15 years it’s now realising it’s inescapable”.

Not everyone believes such a move is inevitable. Chanel is steadfastly refusing to sell its principle collections – from ready to wear to handbags – online for the foreseeable future, according to a recent interview with the CEO. While this might strike some as akin to sticking one’s head in the sand, the reasoning the company gives centres around the unique experience of going into a store to buy a product, rather than sitting at home in one’s pajamas. From a strategic point of view, the idea is sound. Reducing avenues of purchase encourages a scarcity factor that high-end fashion must rely on. It also ensures that the products are seen in the best light possible, incredibly important when justifying such a premium. It’s interesting to note that though the thinking may be sound, it is certainly not appropriate for every luxury brand to be resisting the lures of online shopping in such a dramatic way. Chanel is – and always will be, in multiple ways – a very special company, an exceptional brand, in the literal sense. Like Apple though, it’s practices are to be emulated with caution, as a great paper by McKinsey Quarterly highlights. “Outliers are exactly that…”, the report states.

But what is the state of stores, and how important is service in these places? For luxury, we can assume a high priority of the physical shopping experience is connected to the person assisting you. Recent experiences at two different luxury goods stores highlighted jarring differences, monumentally affecting the way Zetigeist felt about the brand. Last month in New York, Zeitgeist visited Tiffany & Co. to find a Christening present. Without turning this article into a rambling letter of complaint, the section Zeitgeist found itself in was woefully understaffed, and when help was available, information turned out to be incorrect and, most importantly, not dispensed as if it were important to them. Zeitgeist left without buying anything. The experience was deflating enough to mention to the manager en route to leaving the store. Returning at the weekend to try again, the experience had not much improved. The item needed to be engraved. Taking it into one of the London stores upon returning home meant being greeted with the same mediocre level of service. No passion, no interest. This would be perfectly acceptable for somewhere such as Ernest Jones, but Tiffany is a massively, massively powerful brand. For many it is incredibly evocative, and speaks to nostalgia and deep-seated emotions with very personal connections. There is a dream that is Tiffany, that is replicated extremely well in their above-the-line marketing. It is completely absent in its physical embodiment, the store. Cartier, by comparison, manage to present a fantastical vision of their brand, while also maintaining a consistently excellent level of service in-store that brings cohesion to the image it evinces.

Louis Vuitton could not have presented a starker contrast to Tiffany. The brand had one brief flirtation with TV ads about four years ago. While also a powerful brand, it perhaps could not be said to elicit such powerful emotions as Tiffany, purely on the basis that Tiffany purchases might often be assumed to be gifts. Purchasing what is surely one of the cheapest things in the store, Zeitgeist was delighted to be led through the purchase process by an exceedingly-well trained woman, who was happy to go over the minutiae of the purchase, and knew answers to arcane questions when asked. It made the experience extremely pleasurable. Remarkably, the store went a step further, sending Zeitgeist a random act of kindness and imploring to get in touch if further assistance was required.

That kind of experience simply cannot be replicated online. If Amazon were to start selling Prada clothing anytime soon, the dissonance would be powerful. So while the luxury industry, and many in the retail sector at large, struggle with the idea of the shopper journey online, moreover how and where that connects with the physical journey, we cannot forget basics. The importance of good training, especially for demanding customer who are expecting a premium experience, cannot be overstated. Though smartphones and tablets may hold the data, it must be remembered that the purchase of a luxury product is often an irrational experience. The service and assistance received during purchase consideration may be an irrational influence, but it is an immensely powerful one. If a brand talks the talk, it must walk the walk, or face the consequences of failing to live up to its own promises.

Could sponsors hold the key to stopping racism on the terraces?

October 22, 2012 Leave a comment

So Lance Armstrong (under)stated recently that he’d had a ‘difficult couple of weeks’.

Just to recap. In the last fortnight or so (and despite his protestations of innocence), Armstrong has gone from being a much lauded athlete who overcame serious illness to dominate one of the world’s toughest sporting competitions to a discredited drugs cheat and stripped of all his titles.

A ‘difficult couple of weeks’ by anyone’s standards.

Since the evidence against him grew and former team-mates spoke out about his role in the doping culture in the US Postal team, the position of sponsors such as Nike has shifted. Where initially they stood by their man, they ultimately decided to cut the relationship, citing that he had “participated in doping and misled Nike for more than a decade“.

It’s one of the inherent dangers of sponsorship.

While your endorsee is sweeping all before them you are associated with success and glory. But as Tiger Woods sponsors found out a few years ago, if that star misbehaves your brand is associated with someone getting the headlines for all the wrong reasons.

The news that cycling has/had a doping problem is both unsurprising and depressing.

Unfortunately, the same can also be said for the experiences of the England U21 side in their recent play-off in Serbia.

Racism in football

Having been subjected to racist chants throughout the game, things came to a head at the final whistle when Danny Rose was sent off for kicking the ball into the abusing crowd and punches were thrown as players and coaching staff jostled their way towards the dressing rooms.

Racism is a blight on society. It exists in the UK and while it is not tolerated in public arenas, the economic downturn hasn’t helped our natural tendency to tribalism when things are tough.

For nations that haven’t experienced the levels of immigration of other ‘races’ that the UK has, attitudes to people with different colour skin are not as liberal. Let’s not forget that it wasn’t all plain sailing and painless for us to get to where we are.

Terminology that was common just a couple of generations ago is now taboo. TV shows of the 1970’s wouldn’t even be considered now. And footballers in the UK used to have to run the gauntlet due to their skin colour as recently as the 80’s and indeed, incidents are still being reported in 2012.

None of this excuses what happened in Kruševac and nor does it excuse the lenient approach footballing authorities have taken with racist incidents in the past. In a multi-billion pound industry, fines of tens of thousands of pounds have little impact.

FIFA and UEFA are keen to cite the power of football to change society when awarding tournaments to countries like Ukraine and Qatar but plead impotence when it comes to topics like racism.

The natural indignation in England has lead some to suggest that we should pull out of international tournaments to make a point. Such an action would most likely be met with champagne corks popping in Nyon and Zurich, and would only serve to further dilute our voice in the global game.

The Serbian FA could have offered UEFA a get out of jail card. A statement recognising the monkey chants, apologising to the FA and footballing family and a clear plan of action to ensure it never happens again would have enabled the games rulers to give them a slap on the wrist.

Yet the Serbian FA refuted clear evidence of racist chants and stated that any claims to the contrary were malicious.

FA of Serbia absolutely refuses and denies that there were any occurrences of racism before and during the match at the stadium in Kruševac. Making connection between the seen incident – a fight between members of the two teams – and racism has absolutely no ground and we consider it to be a total malevolence.

Had they sent a letter saying ‘Fuck you! We did nothing wrong and we’re not changing!’ their attitude couldn’t be any clearer.

And in doing so they batted the ball firmly into UEFA’s court making the question very clear.

Do UEFA believe there was racism at the game and if so, do they consider it acceptable?

Driving behaviour change

Behaviour change and persuasion are all about understanding what motivates of the people you are trying to influence. This means putting your own motives to one side for a moment.

In other words, if we want UEFA and FIFA to impose stronger penalties for incidents of racism we need to understand what influences them.

And let’s be honest, British indignation has never kept them awake at night.

Much higher on the list of priorities are the many sponsors who provide a huge chunk of the money that powers the multi-billion pound football industry.

Just like Nike and Lance Armstrong’s sponsors, FIFA and UEFA’s backers (which include brands like Coca-ColaMcDonalds and Adidas) have a rare opportunity to make their opinion on an unsavoury topic clear.

No brand wants to be associated with racism and upsetting the sponsors is something the footballing authorities do not tolerate. Just ask Niklas Bendtner who was fined £80,000 for showing his Paddy Power lucky pants during EURO2012.

Compared to the fines given to national associations for incidents of racism, it seems rather excessive.

Let’s face it, for all the anger,  griping and T-Shirt protests in England we simply don’t have the clout to demand action.

The sponsors are the ones with real power to influence, and maybe only a rebuke from the people who line their pockets will make finally FIFA and UEFA start taking racism in football seriously.

Branding Con Edison – Not what you do but why you do it

Zeitgeist spotted this van – with virtually no other branding – in New York while there last month. It’s a nice, simple proposition from Con Edison and it speaks of trust, reliance and dependability.  The branding has been around for a while, but the company’s been around for much longer. They’ve got a good legacy and can now leverage it. It goes back to a TED video by Simon Sinek that we’ve brought up before, about people using your services not because of what you do but because of why you do it. It’s a philosophy. And in case you think you don’t know who Con Edison are, you do…

Target sighted


Maybe it’s because Target have been an innovative retailer for several years now, presenting a really attractive brand despite offering low, low prices.
Maybe it’s because this idea is such a great example of such innovative thinking.
Maybe it’s the music they’ve used.
Maybe it’s because Zeitgeist is currently having a great time in New York and is easily swayed.
Whatever, we love this ad.

Yves Saint Laurent – What’s in a name?

Zeitgeist has written before about the luxury goods company Yves Saint Laurent. Then-creative director Stefano Pilati opined, “[I]t’s such a contradiction, because we want to be luxurious and have 300 shops all around the world, but you can’t be luxurious with 300 shops around the world”. It’s always difficult to introduce dramatic innovation to a company that conversely prides itself on provenance and tradition. In trying to adhere to past methods, what starts out as a respectful outlook can lead to stagnation. It was evidently with this in mind that incoming designer for YSL, Hedi Slimane, has decided not only to personally redesign all retail environments – as he did at his last post at Dior Homme – but also to change the name of the brand itself, to Saint Laurent Paris.

It is not the first time a luxury label has grappled with a name change. “Gianni Versace” was similarly shortened some years ago to “Versace”; more recently Dolce & Gabbana’s more affordable “D&G” brand, announced it is to be shuttered due to consumer confusion over nomenclature. YSL’s name change is actually a return to tradition of course, as the brand used to be known as Saint Laurent Paris. This news was overlooked though on Twitter, where a lot of the knee-jerk reactions to the news were far from positive. The move will allow Slimane to stamp a real sense of authority on the brand, much as he did while at Dior, where many objective observers rightly claim he revolutionised contemporary menswear.

Most importantly though, the renaming should help move the brand away from the vestiges of any remaining cheap associations (evinced by the above person wearing a YSL polo shirt). In the 1980s, the company sold licenses to use its name to over 200 different companies, which led to poor-quality clothing being produced under the YSL marque, and a significant erosion of brand equity. A similar situation befell ’70s doyen Halston. Hedi Slimane’s Saint Laurent Paris has the opportunity to breathe new life into the company, while still maintaining a distinct sense of style that the eponymous designer would have been proud of.

An Olympic Reputation

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Dost thou know what reputation is?

I ’ll tell thee,—to small purpose, since the instruction

Comes now too late.

Upon a time Reputation, Love, and Death,

Would travel o’er the world; and it was concluded

That they should part, and take three several ways.

Death told them, they should find him in great battles,

Or cities plagu’d with plagues: Love gives them counsel

To inquire for him ’mongst unambitious shepherds,

Where dowries were not talk’d of, and sometimes

’Mongst quiet kindred that had nothing left

By their dead parents: “Stay,’ quoth Reputation,

‘Do not forsake me; for it is my nature,

If once I part from any man I meet,

I am never found again.’

- Duchess of Malfi, III, ii

Zeitgeist went to see Duchess of Malfi at the Old Vic last month, a brilliant production, and was reminded of this fantastic quotation when thinking of the upcoming Olympic Games soon to descend on London. Though arguably less ephemeral than the brand of today’s salubrious celebrities – written about recently in Vanity Fair – the Games can hardly be said to provide any quantifiable burgeoning of brand to host countries of the past (except perhaps for Barcelona). As The Economist adroitly put it the other week, “When asked why the United States is a fine place, few would instinctively mention its hosting of the 1996 Olympics in Atlanta.”

Are Britain’s current economic woes related to anything that might be solved by hosting an Olympics? Probably not. Will the Games, much like the bloody affairs of ancient Rome, serve to please and distract the hordes? More likely. The Games themselves will have to be good enough to overcome the pre-event controversies of massive over-spending, Zil lanes, anti-missile protests and Olympic torches on eBay. Otherwise, as the above quotation describes, the reputation of many will be lost forever.

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