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Designer Wants Your 'Social Currency' Instead Of Cash

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Designer Wants Your 'Social Currency' Instead Of Cash

Business

Designer Wants Your 'Social Currency' Instead Of Cash

Designer Wants Your 'Social Currency' Instead Of Cash

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  • <iframe src="https://www.npr.org/player/embed/272932755/272932756" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
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At Marc Jacobs' new pop-up shop in Manhattan, no cash is necessary. In exchange for Facebook posts, tweets and Instagram photos, customers can get goodies from the designer like necklaces, perfumes and purses. The shop is only open this weekend to coincide with the start of New York Fashion Week.

RENEE MONTAGNE, HOST:

And our last word in business this morning is: social currency.

At one point, Facebook was valued at $100 billion.

DAVID GREENE, HOST:

And let's not forget that Instagram was bought for $1 billion.

MONTAGNE: And that by some accounts, Twitter is worth - well, it was worth over $18 billion.

GREENE: Well, now those socializing can get a bit of a profit pie. At Marc Jacobs' new pop-up shop in Manhattan, no cash is necessary. Social media is the capital.

MONTAGNE: In exchange for Facebook posts, tweets and Instagram photos, customers can get goodies from Marc Jacobs, like necklaces and perfumes and purses. The shop is only open this weekend. That's to coincide with the start of New York Fashion Week.

GREENE: And I guess we'll how long this idea of social currency remains in fashion.

That is the business news on MORNING EDITION from NPR News. Our theme music was written by BJ Leiderman. It was arranged by Jim Pugh. I'm David Greene.

MONTAGNE: And I'm Renee Montagne.

(SOUNDBITE OF MUSIC)

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