At New Marc Jacobs Concept Store, No Money Will Change Hands Does social media carry an intrinsic dollar value? At Marc Jacobs' latest pop-up store in New York, the designer is throwing money out the window entirely.
By Geoff Weiss •
Opinions expressed by Entrepreneur contributors are their own.
A new Marc Jacobs shop is opening in New York -- but one in which no money will ever change hands. The designer is cashing in on social hype over physical dollars to promote his fragrance, Daisy.
Jacobs has erected a pop-up store in Manhattan this weekend that will trade exclusively in what the company is calling "social currency." This means that consumers can receive products in exchange for sharing content via Twitter, Instagram and Facebook with the hashtag #MJDaisyChain.
Transactions will take place on a "scaled system," Marc Jacobs' vice president of global marketing, Lori Singer told Entrepreneur.com, in that more creative posts will garner better swag.
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While a basic mention will be worth a deluxe fragrance sample, for instance, the ten most inspired Instagram pictures every day will receive a Marc Jacobs handbag -- with a variety of items offered in between.
This isn't the first time that Jacobs is aiming to capitalize on a staunchly engaged online community that is hungry to share its passion for the brand on social media in creative ways. To generate buzz for a former fragrance, Dot, for instance, the brand created a #MarcTheDot hashtag for polka dot fans to express their love for the pattern.
Accordingly, the pop-up shop is "is a way to give back to that community," Singer said.
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