Designer Wants Your 'Social Currency' Instead Of Cash

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.

Copyright © 2014 NPR. For personal, noncommercial use only. See Terms of Use. For other uses, prior permission required.

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)

Copyright © 2014 NPR. All rights reserved. No quotes from the materials contained herein may be used in any media without attribution to NPR. This transcript is provided for personal, noncommercial use only, pursuant to our Terms of Use. Any other use requires NPR's prior permission. Visit our permissions page for further information.

NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR's programming is the audio.

Comments

 

Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.