On November 5, L2 and NYU Stern hosted its second-annual Innovation Forum at The Morgan Library in New York City. The full-day event addressed innovation in digital marketing and implications for prestige brands.
L2 Forums are the largest gatherings of prestige professionals in North America. Forums draw C-level executives and top marketing and digital talent from prestige brands; leading agencies, media, and technology firms; and innovators and academics. In addition, 25 percent of seats are reserved for students from the nation's top business and arts graduate programs.
Andy Dunn is Founder and Chief Executive Officer of Bonobos.com, an online-only men's apparel brand that launched in 2007. Initially developed around a better-fitting pair of pants conceived by co-founder Brian Spaley, Mr. Dunn's Stanford business school roommate, the company has since expanded into a one-stop shop for men.
Bonobos.com is venture-backed by Accel and Lightspeed and was funded initially by board member Joel Peterson, Chairman of JetBlue.
BBonobos.com was named Best Men's Pants by New York magazine within a year of its launch and was included among America's Hottest Brands named by Advertising Age within two years.
Mr. Dunn's innovative business model, driven by customer experience, has been featured in such publications as the New York Times, Wall Street Journal, Financial Times, Forbes, BusinessWeek, Entrepreneur and Inc. He has appeared on Bloomberg TV, Reuters, Fox Business, Fox, NBC and ABC and has taught cases on Bonobos.com at schools including Harvard, Columbia, Stanford, Wharton School and New York University.
Prior to founding Bonobos.com, Mr. Dunn worked as a private equity analyst at Wind Point Partners and as a consultant at Bain & Company in the U.S. and Latin America.
He graduated from Stanford Graduate School of Business in 2007 where he was one of five classmates nominated for the Arbuckle Award. He holds a bachelor's degree in economics and history from Northwestern University.
Andy Dunn, founder and CEO of Bonobos, describes the vast opportunities presented by the nascent online apparel market. Though apparel is one of the fastest growing segments of e-commerce, traditional models are not designed to address the unique challenge of buying clothes online. "This isn't about product depth, this is about customer centricity," says Dunn.
In technology, an improvement to something already existing. Distinguishing an element of novelty in an invention remains a concern of patent law. The Renaissance was a period of unusual innovation: Leonardo da Vinci produced ingenious designs for submarines, airplanes, and helicopters and drawings of elaborate trains of gears and of the patterns of flow in liquids. Technology provided science with instruments that greatly enhanced its powers, such as Galileo's telescope. New sciences have also contributed to technology, as in the theoretical preparation for the invention of the steam engine. In the 20th century, innovations in semiconductor technology increased the performance and decreased the cost of electronic materials and devices by a factor of a million, an achievement unparalleled in the history of any technology.