BOSTON, April 27, 2012 (GLOBE NEWSWIRE) -- In an effort to explore the most prominent markets in digital media, IDEA MEDIA will bring several prominent unique fashion retailers which have developed entirely or partially online, or who have significantly utilized digital media in their development, together at the upcoming EuraMedia 2012 summit in Boston. As demand for top fashions in Russia has soared, the market has responded, with dozens of successful designers and online portals springing up over the last few years. Several of the most successful Internet brands will be featured at EuraMedia 2012, including the Lookatme.ru suite of social media properties, featuring Furfur.ru and iVillage. Company founders will be participating in the opening Q&A on entrepreneurship and the coveted design and branding forum for the Russian and US markets, along with US online retailer Gilt Group. In addition, roughly 20 brands and sites will be participating from Russia, and many more from the US.
The Russian market for online luxury goods, with fashion at the lead, has increased an astounding 40% in the last year alone, growing faster than any other in the world. Greg Selkoe, CEO and Founder of the thriving online street-wear retailer Karmaloop.com, did not have to be told about the opportunities afforded by an increasingly fashion-conscious Russian public with greater disposable income. "I think, especially in Moscow, that there is a renaissance occurring," said Selkoe. " So much money is being pumped in and the developers are the best in the world. Also, young Russians want a choice. They don't necessarily want to wear Prada. And they're willing to pay a premium for that choice."
According to Katya Bazilevskaya, co-founder and Chief Commercial Officer of the extremely popular fashion networking site LookAtMe.ru, "The Russian market is huge and underdeveloped in terms of online retail. Consumers here are so unspoiled by good customer service or good delivery service."
Russian brands are descending on EuraMedia 2012 with various goals in mind. Some have a desire to expand their editorial and brand name internationally and lure new clients for market entry and partnerships; some want investment for US expansion to help sell their products, which are now being manufactured in Russia. The US brands are primarily retail based, although they may be surrounded by strong editorializing. An example is Karmaloop.com, which uses ingenious media hybrids in the form of specialized digital video clips to show their products in motion; All of these brands are attending EuraMedia 2012 to learn how to scale barriers to entry. "We are looking for partnerships and investors," said Selkoe, whose brand will be joined by some of the most consistently popular fashion entities currently on the market.
In addition to the forum on digital media and fashion (led by Conde Nast), the branding and design forum, and the portion of the overall trade show they will encompass, there will also be an eFashion and eLifestyle party where the best of the best online upcoming designers will emerge from the digital frontier to trot out their latest styles using cutting-edge hologram technology. The event will be judged by media, models, and even Sarah Jessica Parker, whose taste in fashion is legendary. For more, visit: http://www.EuraMedia2012.com.
About EuraMedia 2012
The EuraMedia 2012 Summit will take place at Boston's luxurious waterfront Seaport Hotel and World Trade Pavilion between June 13-16, 2012. The event is dedicated to capitalizing on Russia's current tech and media boom which, according to companies such as Price Waterhouse Coopers, continues to gain strength. The summit will facilitate broader public access to these markets for US investors and businesses, as well as providing Russian companies with the ability to promote themselves and expand internationally. EuraMedia 2012 features a diverse agenda that includes sessions on IT, new media, social media, a trade show on media buying and selling across markets, and 'how-to' market entry seminars. The summit will also feature a co-branded trade expo, Biopharmology, dedicated to the fields of nano, solar, and biotechnology. EuraMedia 2012 will culminate with an awards gala hosted by Sarah Jessica Parker and featuring many premier musical acts as well as a fashion exhibition, the proceeds of which will be donated to Russian and American cancer charities. Learn more at: http://www.EuraMedia2012.com.