2013 has been a slow year for the newly unemployed professionals of the British Colombia film industry. Formerly the third largest film center in North America, British Colombia is currently facing external threats from Ontario and Quebec’s tax incentives, and is unable to compete. This is an example of when financial goals interfere with purpose. The premier of British Colombia, Christy Clark, is on a mission to balance the province’s budget, a task that does not allow for a tax credit at 25% of labor costs, the level at which it is in Ontario and Quebec. Rather, at 33% of labor costs, this credit is simply not attracting producers to British Colombia (Current production list: http://www.bcfilmcommission.com/about_us/film_list.php, shrunk from its high of 30 TV series at one time). It is incidents as such in which the issue of finance and regulation stops a company (or in this case an entire industry) from performing at its optimal potential. It raises the question as to whether a company should risk financial stability for innovation and potential for growth, or operate in favor of good financial statements. For the film industry, perhaps it would be wise to slightly lower the tax gap between the provinces, to ensure that workers don’t have to constantly move to where the next ‘A-List’ tax cut is.

Popular American TV series shot in Vancouver

One of the largest film franchises of the decade, filmed in Vancouver

News coverage from a North Shore Studios film industry rally:

http://www.cbc.ca/player/Embedded-Only/News/BC/ID/2328286131/

sources:

http://www.cbc.ca/news/arts/b-c-film-industry-seeking-ways-to-survive-1.1402436

http://www.cbc.ca/news/canada/british-columbia/b-c-film-industry-rally-draws-thousands-1.1393384

Tory Burch launched her luxury, lifestyle clothing brand in 2004, and within four years she has managed to make her orange color and Tory Burch logo iconic in the fashion industry (check it out at http://www.toryburch.com/). In an interview with CNBC, Burch describes what she considers to be the power of her brand, and the main point of difference is actually herself.

Women who purchase her clothes find her extremely relatable and admirable as a mother who balances her work, family, and social life. As a woman in business, she is perhaps more heavily scrutinized, but her positive social image has aided in attracting women of all ages to buy her clothes. Tory Burch also launched by opening a direct store and having a launch party during New York fashion week, as opposed to going to big department store retailers to distribute her clothing line. Much of her success can be attributed to her initial direct distribution, because when new designers set out to get their brands into retailers such as Bergdorf Goodman, Saks, and Bloomingdales, they rarely get recognition in comparison to the already established brands. By establishing a direct market initially and using a main point of difference as unique as her own self-image, Tory Burch has established a sustainable brand in an industry dominated by the first few Italian and French power houses.

The first Elizabeth Street location of Tory Burch.

sources:

CNBC interview with Tory Buch: http://www.cnbc.com/id/100000500