RILA’s Vice President of Innovation, Nicholas Ahrens, moderated a session featuring Estee Lauder Companies, Macy’s, and VF Corporation entitled, “Brands & Retailers are Innovating from the Inside Out.” Panelists discussed how legacy brands overcome the challenges posed by innovation. For example, effective strategies to encourage top level executive support. Panelists also discussed the importance of establishing specific metrics for success and aligning these metrics with company objectives. Panelists agreed that this alignment is vital to fostering a culture of innovation within retailers and brands. In addition, the panel underscored how finding the right mix of functional teams, internal catalysts, and dedicated budget can make or break innovation projects.
The Lead Innovation Summit brought together a unique audience ready to showcase the newest and most exciting innovations for fashion and retail with an audience ready to push the industry further. RILA is proud to have The Lead as a member of our Innovation Network and we look forward to continuing our partnership.
RILA’s support of The Lead Innovation Summit is one-way RILA’s Retail Innovation Center is connecting with the innovation ecosystem. Another is through the launch of the RTech Startup Network. Startups looking to bring their solutions to retail leaders can apply to RILA’s RTech Startup Network, a new home to early-stage companies developing cutting-edge solutions to the retail industry’s most stubborn problems. RILA is establishing a single access point for retailers who are hungry for new technology and startups whose innovative solutions can have a real impact on the retail industry. For more information on the Lead Innovation Summit or to get involved with RILA’s innovation community, contact RILA Manager of Sustainability and Innovation Katie Nicholos.