Supermodel Elle Macpherson says she spends much of her time nowadays "immersed in the world of contracts, trademarks, copyright, design and corporate transactions" while overseeing her namesake lingerie and body-products businesses, among other ventures.
"All of which I love, believe it or not," she said in Seattle this evening.
With that as a backdrop, Macpherson used her International Trademark Association keynote address to stress the importance of corporate brands staying true to core human and environmental values, particularly in turbulent times. She also offered her views on the future of the economy and the Internet's transformation of the business world. Read on for an excerpt from her remarks.
"One might ask, what has changed? Is this a defining moment in world economics, when our values will be tested? And if so, why? I believe, during the '80s and '90s, all of our brands profited from the explosion of the consumer society, the growth of the banking system, hedge funds, and above all, the economic powerhouse that China has become.
"The growth of the world's economies funded increases in standards of living and wealth way beyond expectations. In turn, this has created a consumer power beyond what we have ever seen before.
"There have been a number of significant changes. One: The culture of debt-fueled conspicuous consumerism has collapsed, along with the world banking systems. And this has triggered global revaluation. The world's economy can no longer be fueled by debt.
"Two: Durability and sustainability, carbon footprint, have become hugely important to the consumer today, and therefore need to be considered by brands. Now, this doesn't just mean making products that last longer. It means consumers are examining whether they're prepared to retain their product for longer and not replace them so regularly to keep up. Conspicuous consumption is no longer something that consumers aspire to. It's simply not cool. ... Wouldn't it be sad if our generation was defined by our consumer waste?
"The third point that has changed the face of business is, as many people have mentioned before, the Internet. Now this powerful component facilitated a move away from the traditional brand-to-consumer, one-to-many, top-down communication to consumer-to-consumer, many-to-many or horizontal communication. And the real communication channels are no longer the exclusive remit of marketing agencies. Today, the consumer communicates through Facebook, through Twitter, through blogs, through YouTube."
She cited, as an example, the recent decision by British retailer Marks & Spencer to drop a 2-pound (US $3) surcharge for larger bras, as a result of a protest organized on Facebook.
"It's really very poignant, it's very powerful," she said. "I believe that the global society has become hardened to insincerity by brands, governments and financial organizations. Instant communication, combined with the convergence of cultural change, economic hardship and the shift in consumer values quickly exposes insincerity."
She said her goal is to only pursue projects and ventures that match the core values of her brand, which she defined with the words faith, intimacy, spontaneity, evolution, rebel, tribal and true. She later added, "The challenge for me is to remain who I am, and not what I sell."
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