Blog: Fifth & Pacific to sell shares on Facebook
Katie Smith | 24 May 2012
Clothing firm Fifth & Pacific Companies, formerly Liz Claiborne Inc, is to start selling its shares on the social network website Facebook - a move that will let consumers buy stock in just 3 clicks and with no fees.
The customer stock ownership plan (CSOP) has been developed by Loyal3, which says the scheme "provides access for the 82% of Americans who are not directly invested in companies." By eliminating transactional costs it also makes stock ownership easy and affordable for large numbers of first-time investors.
Chris Kelly, director of Loyal3 called it a "natural evolution of the social world".
Consumers will be able to purchase shares of the company via direct links on the Kate Spade New York, Lucky Brand, Juicy Couture and Jack Spade Facebook pages, as well as Fifth & Pacific's website.
Could this be the 'Ultimate LIKE Button' as Loyal3 claims?
For Fifth & Pacific CEO William McComb, its also a perfect tool to let shoppers express loyalty to brands. "We think this platform will help create a greater sense of community. This is simply a huge idea - what could possibly generate more loyalty than ownership?"
After recent dips in Facebook's share price, the social networking site's pre-market shares were up 1.37% today (24 May) to US$32.44.
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