A lot is the simple answer but some recent research by Deloitte’s has shown that the price of luxury items varies significantly around the world and foreign exchange movements play a big part in that valuation.
According to Deloitte, in US dollar terms London is now the “cheapest” city to buy designer and luxury goods.
Since the Brexit vote in June, at the time of writing the pound has fallen by more than 17% against the dollar (i.e. you need 17% more pounds now to buy the same amount of dollars you would have received back in June).
According to the research, on 7 October a Speedy 30 handbag from Louis Vuitton costs £645 ($802) in London, €760 ($850) in Paris and $970 in New York. China was the most expensive place to buy it with the handbag costing 7,450 Yuan ($1,115).
Nick Pope, fashion and luxury lead at Deloitte, told the BBC that “the trend in luxury pricing in the UK is being driven mainly by the depression on the sterling – thus making the same item more affordable in the UK than in any other luxury market”.
Of course, if your income is in British pounds then the cost to buy the handbag in London remains the same. If however your income is in another currency such as US dollars then it is $313 cheaper to buy in London than in China for example. If you are stocking up on your luxury handbags should you be planning a trip to the UK?
It’s not just the ladies from outside the UK who are buying luxury handbags who could be benefiting from the exchange rate movement.
Any male readers may be interested to know that a Brunello Cucinelli cashmere V-neck sweater now “only” costs £650 ($843) in the UK compared with $942 in France and $995 in the US.
$843 for a sweater?
Please form an orderly queue as you rush to the shops to buy one. Or maybe two…
https://www.theexpgroup.com/wp-content/uploads/2016/10/Louis_Vuitton_shop.png5751022Steve Crossmanhttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve Crossman2016-10-08 12:10:282016-10-08 12:10:28A good excuse to buy another handbag?
When you were young did you dream of being an accountant when you grew up? My guess is that most of you probably didn’t fall asleep at night dreaming of spreadsheets and calculators. Perhaps a more common childhood dream was playing for your favourite football team or being a famous actor or actress.
There have been some interesting developments recently though when it comes to playing for your favourite football team and some of the top teams are now signing players who will never be kicking a ball for their team. Instead, they will be representing their teams in the world of gaming, or to be more specific, football gaming such as EA Sports Fifa
Manchester City have recently signed Keiran Brown, an 18 year old gamer who has more than 12,000 followers on his YouTube channel.
Keiran will represent Machester City at Fifa esports tournaments where gamers sit in front of computers representing their team and watched by crowds of thousands of spectators.
Manchester City didn’t disclose how much Keiran will be paid but other professional gamers are reported to be paid in the region of £3,000 per month and can also win prize money at tournaments which can run into the thousands of pounds.
It’s quite a smart move for the club though as football games on consoles such as Xbox and PlayStation are extremely popular with supporters of the actual game.
Diegao Gigliani, vice-president of media and innovation at Manchester City was quoted as saying “As esport continues to gain momentum, it makes sense for our clubs to be part of the action and get closer to our fans, who love playing EA Sports Fifa as Manchester City. We will be a bigger presence at gaming tournaments, we will have more content through our digital channels and we will activate even more with our fans at matches and club events.”
So, in summary, if you want to play for your favourite football team but can’t kick a ball then maybe get out your Xbox and start practicing…
https://www.theexpgroup.com/wp-content/uploads/2016/08/sports_business.jpg9371666Steve Crossmanhttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve Crossman2016-07-25 19:12:552016-07-25 19:12:55A football star who can't kick...
Everyone seems to be on their smartphone or tablet at the moment. After all, when was the last time you read a book? Or let me ask you a slightly different question, when was the last time you coloured in a colouring book?
“Coloured in a colouring book!? I’m not a child”, I hear you say but whilst most people will come to the conclusion that the last time they coloured in a colouring book was when they were a young child, things may be changing.
One of the latest crazes doing the rounds in the UK at the moment is adult colouring books where grown men and women are buying adult colouring books to colour in. A quick Google search of “adult colouring books” will reveal the vast variety of such type of books (as an aside make sure you include the word “colouring” when searching for adult colouring books otherwise you may get an unexpected search result).
It’s been reported that more than 3 million adult colouring books were sold in the UK last year which represented over £20 million worth of revenue for the publishing industry.
Now, whilst certain trendy people may well be rushing to buy colouring books, the tax authorities in the UK are also getting interested in the trend.
The reason behind the tax authorities interest is that colouring books are currently treated as children’s books and as such are zero rated for VAT purposes (in other words VAT is not charged on the books).
The tax authorities are currently in talks with publishers about plans to classify adult colouring books as uncompleted books which would then make them liable to VAT at 20% in the same way that diaries and notepads are.
The net result is that if the tax authorities do reclassify the adult colouring books then either the books will become 20% more expensive for the individual purchasers or if they remain at the same published price, the publishers will have to take the hit.
More expensive adult colouring books? It’s enough to make you throw your toys out of the cot.
https://www.theexpgroup.com/wp-content/uploads/2016/06/colouring-book-vat.jpg529941Steve Crossmanhttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve Crossman2016-06-01 18:33:522016-06-01 18:33:52You can't read this book...
It’s always nice to grab a social bite to eat with colleagues or clients but if I’m honest, I’m not sure I’d recommend the Bunyadi restaurant for such events.
The reason I wouldn’t recommend the restaurant for such events is not because of the food, location or service (which I’m sure are all very good).
No, the reason I think it would be an awkward location for colleague or client dinners is due to the fact that, how can I put it but using business terminology, they have taken an extremely differentiated approach to competing.
The Bunyadi restaurant has announced that it is opening in central London in June and the different thing about it is that it will be a naked restaurant.
Whilst an increasing number of people are choosing to eat their food in a more “natural” state without additives or preservatives, the company behind Bunyadi are taking things a step further by having a naked section in the restaurant.
Seb Lyall, the founder of the company behind the restaurant said “we believe people should get the chance to enjoy and experience a night out without any impurities: no chemicals, no artificial colours, no electricity, no gas, no phone and even no clothes if they wish to. The idea is to experience true liberation.”
When you arrive at the restaurant, you’ll enter the bar area (where everyone is fully clothed) and then head to the changing rooms where you will be given a gown. You then go to the naked area, take off your gown, fold it and put it on your seat and then sit down to enjoy your meal (and no doubt concentrate very carefully when eating your hot soup so that you avoid spilling any of it in your lap).
If you are interested in going to the restaurant you can sign up on their website but you’d better hurry. At the time of writing, there were over 15,000 people on the waiting list.
The Indian car manufacturer Tata Motors, part of the Tata Group, one of India’s largest conglomerates recently skilfully averted what could have been a major international marketing mistake.
Tata motors, who also own the Land Rover and Jaguar brands, are about to launch a new small hatchback car. They debuted it at the recent 2016 Auto Expo as the Zica (short for Zippy Car) but following the rapidly spreading Zika virus which has infected over a million people in Latin America and which was declared an international health emergency, they decided to change the name to avoid any unwanted links between the two names.
The car will now be launched as the Tiago and the change was impressively dealt with by the company. They reacted quickly to the similarity and ran a competition via social media for the public to choose the new name. Over 30,000 names were put forward in the competition but Tiago was selected by the public as the winner.
However, if you look up the definition of Tiago in the Urban Dictionary the top two definitions are firstly, “Tiago is a great Portuguese king” and secondly “Tiago is a sex God who is…”.
I’m not sure the Tata marketing guys looked at the Urban Dictionary before agreeing to Tiago but in any case, if you see a man driving a Tiago then surely he’s either the Portuguese king or a sex God…
https://www.theexpgroup.com/wp-content/uploads/2016/03/tata-zica.jpg17583125Steve Crossmanhttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve Crossman2016-03-10 17:48:252016-03-10 17:48:25What's in a name?
My Little Pony is a very successful entertainment brand developed by the giant US toy multinational company Hasbro. The My Little Pony range of products first started back in the early 1980s when a line of plastic pony toys was introduced.
Since then the toy line has been joined by a number of animated TV series as well as an animated full length feature film.
All in all, a great success but there’s now a potentially very serious issue concerning the font they use on their products.
Typeface company Font Brothers design fonts and last month filed a law suit against Hasbro claiming that My Little Pony uses one of their fonts without permission.
According to Font Brothers, Hasbro used their “Generation B” font for their My Little Pony products and website without obtaining the correct licence. In other words, they are claiming that My Little Pony is using a pirated font.
Now whilst some people may say that using a font is a minor issue, if the courts find that they have been using it without the proper licence then it could be a very serious matter.
The complaint filed at the New York federal court stated that “Defendant Hasbro has used or instructed others to use unauthorised copies of the Generation B Font in the creation of, but not limited to, all products, goods, merchandise, television and film properties, and advertising material connected with the ‘My Little Pony’ product line…”.
It went on to say that “Defendant Hasbro has created unauthorised and infringing copies of the Generation B Font software and impermissibly distributed the same to third parties.”
Some fonts are so similar that it is difficult to prove which font is being used but the style sheet on Hasbro’s website specifically mentioned the Generation B Font so it will be difficult for them to claim that they weren’t using the font!
It looks like Font Brothers tried to settle matters before it got to court as they wrote in their complaint that they had contacted Hasbro about the unauthorised use but the toy company refused to license the font for their products.
The matter is now in the hands of the court but seeing as the infringements cover such a significant product there is a chance that damages could amount to a significant figure.
It may well be that it wasn’t My Little Font but it was in fact Your Little Font.
https://www.theexpgroup.com/wp-content/uploads/2016/02/MY_LITTLE-PONY-EXPLORE-EQUESTRIA-FRIENDSHIP-EXPRESS-TRAIN.jpg8581524Steve Crossmanhttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve Crossman2016-02-22 19:01:562016-02-22 19:01:56My Little Pony or My Little Font?
Most of us have been there. Sat in a meeting when somebody decides to use “management speak” or “corporate jargon” to make something sound more impressive than it is.
You’ve probably heard of the phrase “think outside the box” but what about “let’s not boil the ocean”?
Michael Sugden, chief executive of the advertising agency VCCP, recently put together a list of the most irritating metaphors used in the corporate world.
He wrote in Marketing Magazine that the increased use of corporate jargon in recent years has resulted in meetings degenerating “into a quagmire of nonsensical verbal piffle”.
He put together his top 10 of the most annoying phrases and in reverse order the results are shown below.
Oh and in case you’re “not singing off the same hymn sheet” I’ve translated the “management speak” into English in the italics below the phrase.
10. Think outside the box – come up with new ideas…
9. I may have a window for you – I can see you on…
8. Content is king – first used by Bill Gates in 1996 to indicate that content would drive the success of the internet. It now appears to be used for random purposes in meetings…
7. Let’s not boil the ocean – let’s not make this too complicated…
6. Level playing field – keep things equal…
5. Let’s workshop this – let’s spend far too long talking about this in a meeting…
4. Shift the dial – to be honest I’m not 100% sure but possibly means talk about something else. Either way it sounds very dramatic in a meeting…
3. Let’s socialise this – let’s talk about this…
2. Fail forward – when something doesn’t work but we try to learn from it (if we still have a job after the error of course…)
1. Growth hacking – again, I don’t think anyone is 100% sure what it means but it does sound very impressive…
So, there you go. A list of 10 phrases to [impress / annoy – delete according to how you feel about the phrases] your colleagues at meetings.
https://www.theexpgroup.com/wp-content/uploads/2016/01/management-speak.jpg9231641Steve Crossmanhttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve Crossman2016-01-12 23:17:072016-01-12 23:17:07Let's not run this up the flag pole...
Before cash came along, people used to barter. Somebody who had grown vegetables would exchange potatoes they’d grown with a baker who’d baked bread. A farmer would exchange a cow with someone who had grown rice. And so on…
This was all very well if you had lots of vegetables or lots of cows but exchanging 1,000 kg of potatoes for the latest Xbox or taking a cow with you to pay for cinema tickets was never going to work.
As a result, along came cash.
The Lydians (now part of Turkey) are widely believed to be the first Western culture to make coins and their first coins came in to existence way back around the time of 700 BC.
Since then things have developed.
Bills of Exchange were introduced in Italy in the 12th century (Bills of Exchange are paper documents which enable traders to buy and sell goods without having to carry cash).
The Bank of England introduced printed cheques in 1717.
The first credit card in the UK was issued in 1966.
Online banking was launched in the late 1990s.
Through all of this cash has remained and there are now 180 currencies recognised as legal tender by the United Nations member states.
Things are changing though and earlier this year Apple and Samsung both launched their contactless payment systems whereby money is loaded onto an app on your phone and payment can be made by scanning your Apple or Samsung phone at a contactless terminal.
The company Ringly are taking things a step further though and have announced a partnership with MasterCard which will enable you to pay for items with the tap of a ring.
The rings that Ringly sell (including the ring shown in the photo above) cost between $195 and $260 and use technology to link the ring to your phone to access the Ringly app. The app will then enable payment to be made. This is pretty impressive given that all the technology has to be fitted onto the surface of the ring.
The end result is that you will be able to purchase items via a contactless terminal by simply tapping your ring without getting your wallet or purse out.
What do you think?
Is this a genuinely useful idea or just a “gimmick”? After all, you’ll still need your phone with you to make a payment.
Either way, it’s a nice excuse if you were thinking of buying a new ring.
Oh, and if you are going to buy one, don’t forget to take your wallet or purse with you…
https://www.theexpgroup.com/wp-content/uploads/2015/11/technology-business-strategy.jpg562999Steve Crossmanhttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve Crossman2015-11-10 21:33:402015-11-10 21:33:40Cash is king but jewellery looks nicer...
Are you Facebook friends with a colleague at work? Have you ever been tempted to unfriend them?
Whilst unfriending someone on Facebook only involves a simple click, the Fair Work Commission (an employment tribunal) in Australia has found that unfriending a colleague on Facebook was workplace bullying.
Rachel Roberts worked at the Australian estate agent View and alleged that the firm’s owner and his wife had subjected her to workplace bullying on 18 separate occasions.
Rachel Roberts argued that amongst other things James and Lisa Bird deliberately left her work unprocessed for more than a week and refused to showcase her properties in the business’s front window.
Perhaps the most interesting allegation though was that after a meeting between Ms Roberts and Mrs Bird where Mrs Bird described Ms Roberts as “a naughty little schoolgirl running to the teacher,” Ms Roberts tried to leave the room but was initially prevented from leaving by Mrs Bird standing in front of the door.
She eventually managed to leave the room and was sat in her car in a “very distressed state” when it occurred to her that Mrs Bird may make a Facebook comment about the incident.
Miss Roberts went on to Facebook to check for any comments but found that she had… (wait for the drama to unfold)… been unfriended by Mrs Bird.
Yes, shock of all shocks but she had been unfriended on Facebook…
Now, whilst a lot of you may well be thinking that being unfriended on Facebook isn’t a major deal, the Fair Work Commission specifically cited the Facebook unfriending in its decision, saying that it evidenced “a lack of emotional maturity and is indicative of unreasonable behaviour.”
Now, before everyone starts worrying about which colleagues they are friends with on Facebook and whether or not they should unfriend them, it’s worth noting that the Facebook unfriending incident in this situation was one of 8 occasions when it was considered to be “unreasonable behaviour”. In other words, it’s unlikely that unfriending someone in isolation would be considered to be bullying.
https://www.theexpgroup.com/wp-content/uploads/2015/10/office-friends.jpg7891403Steve Crossmanhttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve Crossman2015-10-12 18:35:232015-10-12 18:35:23Is it a good idea to unfriend a colleague?
Gorillas are the largest member of the primate family and 98% of their DNA is the same as humans. They are amazing animals but unfortunately they live in areas of the world that have suffered from genocide, war and natural disasters. They are on the verge of extinction and have been classified as critically endangered on the IUCN Red List of Threatened Species.
There are less than 900 mountain gorillas left in the world today.
This really is a shocking statistic but luckily there is hope out there.
The not for profit (charity) industry is a significant sized industry. The latest reported figures for the UK alone show that there are over 164,000 registered charities with a combined annual income of £64 billion.
Although these organisations are not for profit organisations they share a lot of business characteristics with commercial organisations but there is one key difference.
Commercial (for profit) organisations generate revenues and incur expenses. The expectation is that the income they generate will exceed the expenses incurred and as a result there will be a profit for the shareholders.
Not for profit organisations also generate revenues and incur expenses. The key difference though is that the focus isn’t on making a profit. Instead, they aim to have as high a surplus as possible between their revenue and their expenses so that this surplus can be spent on supporting the causes they want to support.
The revenue for a not for profit organisation includes for example donations from the public whilst the expenses would include the costs of running the charity such as staff salaries and office rental expenses.
In simple terms therefore, the more a charity can increase its income whilst keeping their expenses as low as possible means that they will have more to spend on the causes they are supporting.
One of the challenges facing charities in today’s environment is getting awareness of the work they do to the public in the hope that the public will help with donations. Awareness and PR campaigns can be very expensive and are out of the reach of most charities.
The Gorilla Organisation is an excellent charity. They have a team of hard working inspirational people who are doing as much as they can to help the critically endangered species. The brains behind the Gorilla Organisation have recently pulled together some fantastic volunteers who also just happen to have some amazing talent.
Some famous actors, producers, directors, editors and creatives have all got together to produce a series of short films.
If you go to mygorilla.org you can see some marvellous short videos featuring an extremely talented Gorilla called Toby.
As well as being the creators of what is in my opinion without a doubt the best series of short gorilla films, the Gorilla Organisation also hosts the iconic Great Gorilla Run where thousands of people dress up as Gorillas and run around the City of London.
In the film below, Toby the Gorilla is promoting the Great Gorilla Run as well as showing off his skills on the piano.
For details on the fantastic work the Gorilla Organisation does visit gorillas.org.
The image at the top of this post is courtesy of the Gorilla Organisation.
https://www.theexpgroup.com/wp-content/uploads/2015/08/gorillas-org.jpg9821745Steve Crossmanhttps://www.theexpgroup.com/wp-content/uploads/2018/06/styleguide-EXP-4.pngSteve Crossman2015-08-13 15:07:532015-08-13 15:07:53Is Toby the Gorilla more talented than you?
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