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Well, here's an inventive way to use social media. Fifth & Pacific Cos., the parent company formerly known as Liz Claiborne Inc. and holding company of fashion brands Juicy Couture, Kate Spade, Jack Spade, and Lucky Brand, is using Facebook to promote sales of its own stock. On each of the brands' Facebook pages, you will now find "invitations" to buy stock via San Francisco startup LOYAL3, which manages small online purchases of Fifth & Pacific shares. Or, as the Kate Spade invitation graciously puts it, you can "enjoy owning a sweet slice of their of [their] colorful world."
The company says the initiative is all about loyalty. Stock ownership "allows consumers to become more deeply engaged with some of the brands they love,” Loyal3 CEO Barry Schneider told the Herald. “There is nothing more loyalizing than ownership.” The downside: this is one online purchase that will not be delivered to you in Kate Spade's adorable packaging.
· LOYAL3/Pacific & Co. [Official site]
· Fashion brand puts its own stock in Facebook [Boston Herald]
· Liz Claiborne Will Become Fifth & Pacific [Racked]