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Last fall, Will Ferrell sang an homage to PayPal to the tune of Fleetwood Macs classic Everywhere. The payments platform was making a big swing with the comedy legend for its biggest-ever U.S. ad campaign. It was also the first major piece of work under PayPal chief marketing officer Geoff Seeley, who joined the company in February 2024. The campaign was created with agency BBH, with an assist from Publicis Groupe creative shop Le Truc. But there was another partner holding influence over the brand strategy, all behind the scenes. The Intangibleswhich some might call the Avengers of marketingis a marketing powerhouse that has largely operated in the shadows until now. Founded in 2022, The Intangibles is a unique consultancy in a marketing industry littered with consulting options. Led by founder and CEO Ben Richards, founding partner Jon Wilkins, and chair Judy Smith, the firm is now launching publicly. Its made up of executive talent that focuses exclusively on intangible assets like brand, innovation, IP, customer experience, reputation, and cultureall oft-overlooked yet critical areas that drive long-term value. Richards is the former global chief strategy officer of Ogilvy, where he led a team of 1,500 strategists across 83 countries for nearly a decade. Wilkins was most recently the global chief strategy officer of Accenture Song, one of the worlds largest agencies. The two met in the early 2000s at legendary strategy firm Naked, where Wilkins was one of the three global founders. Smith is also CEO of strategic advisory firm Smith & Company, the former deputy press secretary to President George H.W. Bush, a veteran of crisis management, and the real-life inspiration behind the hit ABC series Scandal. From left: Judy Smith, Chair, Jon Wilkins, Founding Partner, Ben Richards, Founder & CEO. Richards says that intangible assets are seen as the dark matter of the business world. In reality, they’re very real, they’re very measurable, and I think they’re the future of business, he says. So we started thinking about the kind of company that could advise on how to grow tangible value from intangible assets. “Tribrid” model A decade ago, marketing and advertising was in the midst of a tug-of-war between major consultancies and ad agency holding companies. Deloitte alone had acquired more than a dozen creative agencies, while Ad Age named Accenture Interactive (now Accenture Song) the largest and fastest-growing digital agency network every year between 2015 and 2021. Agencies, meanwhile, were shifting their own strategies to better compete. R/GA, for example, set up a business transformation practice in 2012. The relationship between consultancies and agency partners for brands is still a shifting landscape between competition and collaboration, but Richards says he and Wilkins saw an opportunity for a very specific type of consultant, with a particular approach. Its a tribrid firm that combines the rigor of a management consultancy, the creativity of Madison Ave, and the value creation mindset of private equity, that we thought would be the best at unlocking tangible value for intangible assets, says Richards. Take the PayPal example. When PayPal named Alex Chriss its new CEO in September 2023, Seeley was less than a year into the job. PayPal was looking to shift its positioning quickly and significantly from a payments platform to a broader fintech company. We were brought in to help them engineer a new way to bring the brand to life in North America, Richards says of The Intangibles’s partnership with the company. Seeley says the firm has been invaluable in providing high-level consulting on the overall brand strategy, given the breadth of their experience in particular with marketing and marketing transformation. I need people around me who have been there and done it right, says Seeley. Theyve played the snakes and ladders of marketing for a long time, and they know more about the ladders, and they know where the snakes are. PayPals Seeley says the work his company has done with The Intangibles has complemented his other agency partners. It’s not competitive, because the services that they provide aren’t tangible things like making an ad or buying media, he says. It’s sitting with my VPs of marketing, or my heads of growth, and consulting with them over Hey, when we did this at like this big company that I was at, this is where we found some goodness. So it’s more senior client whispering than it is agency services. Elite experience The tribrid model is combined with what Richards called a naked style of communication and transparency: solid advice, plainly told. In a time when CMOs are asked to do more with less, and always faster, it’s easy to see why a resource like this could be helpful. Executing on this promise is easier when consultants are seen more as peers than hired help. The firm has talent with experience in the upper echelons of the industry, as opposed to a few senior leaders backed by an army of junior talent. So far, Intangibles works with about 30 people across New York, London, and San Francisco. At the partner level, the companys roster includes former Global CMO of Disney Studios MT Carney, former Godby, Silverstein & Partners Chief Strategy Officer Gareth Key, former Global CMO Lufthansa Alex Schlaubitz, former Global CMO of Bill Gates-backed C16 Biosciences Margaret Rimsky, and former Global CEO of Ogilvy PR Stuart Smith. So far, the company has done work with PayPal, Venmo, YouTube, and Kenvue (owners of Tylenol, Neutrogena, and Band-Aid), as well as a handful of private equity firms. Essentially, the company has assembled an on-call SWAT team of marketing, creative, strategy, and communications for the executive suite. Wilkins describes it as a hybrid model of senior talent within the company, and then tapping into their collective Rolodex to tailor teams to a client’s particular needs. We’ve got traditional employees, but we’ve also got this fantastic network of folks who are on speed dial, says Wilkins. So this really surgical application, this Avengers-style team, bringing together genuinely the best people in the world for a particular mission has worked really well.
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E-Commerce
The iconic Louvre in Paris is no stranger to crowds. Since first opening in 1793, the museum has played host to millions of guests and undergone dozens of expansions and renovations to accommodate them. Today, though, overtourism has brought the historic site to a breaking point. In a typical year, the Louvre is prepared to accommodate 4 million visitors. But in 2024, almost 9 million people70% of them originating from outside of Francepassed through its doors. Visiting the Louvre is a physical ordeal, museum director Laurence des Cars wrote in a widely publicized leaked memo. Now the Louvre will now undergo a massive renovation to address overcrowding and expand its viewing capacity to 12 million annual visitors, French President Emmanuel Macron has announced. The ambitious project includes opening a new entrance on the Seine river, and dedicating a stand-alone room to house the Mona Lisa by Leonardo da Vinci, to give the famed Italian Renaissance painting some breathing room. A timeless attraction with an outdated structure The Louvre’s proposed redesign follows a slew of critiques from des Cars and years of wear and tear to the museum’s architectural structure, which has been exacerbated by growing crowds. There isn’t room for visitors to take a break, according to des Cars, who also assessed the museums food and restroom facilities as insufficient in volume. She added in her memo that some areas of the museum are prone to leaks, while others experience wide temperature variations, potentially impacting the preservation of the artwork within. The Louvre’s signage needs to be redesigned as well, des Cars asserted. [Photo: Antoine Boureau/Hans Lucas/AFP/Getty Images] The Louvre currently has only one entrancethe iconic glass pyramid by architect I.M. Pei, opened in 1989. Overcrowding of the throughway in recent years has led to both a greenhouse-like heating effect and unpleasant sound amplification. A similar issue has plagued staffers guarding the Mona Lisa. According to des Cars, around 20,000 people pack into the room housing the famous painting each day, resulting in massive lines and far-from-ideal viewing conditions (if you can even get close enough to catch a glimpse). Im leaving in a state of extreme fatigue and Ive vowed never to visit again, one loyal local visitor told The Guardian. The noise is so unbearable under the glass pyramid; its like a public swimming pool. Even with a timed ticket, theres an hour to wait outside. I cant do it anymore. Museums are supposed to be fun, but its no fun anymore. A design solution to overcrowding At a speech delivered in front of the Mona Lisa on Tuesday, Macron introduced a plan to bring the fun back to the Louvre. In short: improve the flow of foot traffic throughout the space in order to prevent major backups. To start, Macron announced, the renovation will include a new grand entrance at the Colonnade de Perrault on the museums western side near the Seine, finally adding an additional pathway for guests to enter the building, and relieving crowding at the pyramid entrance. The Louvre will hold a competition to choose the firm responsible for the addition, which is slated to open in 2031. Several underground rooms will be added to boost exhibition space. And the museum will relocate its pice de résistancethe Mona Lisato its own dedicated room. That room will require a separate access pass and be independently accessible compared to the rest of the museum, Macron said. In response to the issue of overtourism, the museum will also institute higher prices for foreign travelers. Starting on January 1, 2026, Macron announced, all guests from outside the EU will be required to pay a higher entrance fee. These renovations come as other popular destinations like Spain, Greece, Italy, and Germany have all begun implementing taxes for foreign visitors as a means of dealing with rampant overtourism. It’s only a matter of time before additional landmarks will need to consider designs specifically created to manage the effects of overcrowding.
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E-Commerce
Until recently, if you threw away an old mattress in Amsterdam, it would likely end up in an incineratorthe same way that most of the 15 million-plus mattresses thrown out in the U.S. each year end up in landfills. Now, however, around half of Dutch mattresses are recycled, and that number is growing. Some of the material is starting to be used in new mattresses, sofas, and other furniture by manufacturers like IKEA. [Photo: IKEA] In one facility near Amsterdam, a company called RetourMatras uses automated equipment to dismantle old beds, beginning with a machine called a peeler that cuts off the mattress cover so the fabric can be recycled. Then the core is separated into materials like polyurethane foam, latex foam, and metal springs, depending on whats inside a particular product. More than 80% of a typical mattress can be recycled. In another corner of the facility, the company has pioneered a process to turn polyurethane foam into the chemical building blocks for making new foam that can be used in furniture. [Photo: Ikea] In the past, shredded foam could only be “downcycled” into a lower-quality material for products like carpet backing. Now, if you buy an Extorp sofa or Poäng chair from IKEA in Europeor a new mattressit will likely contain foam partially made with chemicals that RetourMatras recycled from old mattresses. The investment arm of Ingka Group, IKEA’s largest retailer, first invested in the recycling startup in 2019 to help it scale up. The aim was to help with IKEAs own circularity goals. We would like to recycle as many mattresses as IKEA puts on the market globally, says Alberic Pater, who manages business development at Ingka Investments. (Last year, the company sold more than 11 million mattresses.) At the time of the first investment, there was almost no recycling capacity in the region, Pater says. Incineration or landfill was still commonplace, because the cost was far cheaper than recycling, he says. Cost is still a challenge, though RetourMatras says that automation is helpingalong with the fact that the company can now produce higher-quality materials for use in new furniture. The recycling company now has three facilities in the Netherlands, along with three facilities in the U.K. and one in France. In total, it has the capacity to recycle 2.5 million mattresses in a year; last year, it handled 1.6 million. So far, only the location outside of Amsterdam has the new tech. But another new investment from IKEA will help the startup grow. This month, the furniture giant announced that it planned to invest more than $1 billion in recycling infrastructure, including an unspecified amount in RetourMatras. (The recycler hasn’t yet announced any plans to expand to the U.S., and so far, there aren’t any other American recycling companies with the same type of foam-to-foam recycling technology.) At the same time, IKEA’s product designers are working on making mattresses more recyclable. For example, many of its mattresses now have covers made from 100% recycled polyester, which can be recycled again. The covers also have zippers, so they’re easier to remove. “It’s extremely easy just to unzip the cover, take out the foam, and let the cover go in a different recycling stream,” says Johan Kroon, a product developer for Inter IKEA. (Because they’re removable and washable, it also makes it more likely that consumers will keep the mattresses longer, which can cut the environmental footprint of the product even more.) The company’s product design team is working on multiple projects related to mattress recyclability, including making it easier to separate the materials inside. Other companies are also innovating in the space. Royal Auping, a Dutch company that has made mattresses since 1890, designed a fully circular mattress in 2020. Called Evolve, it’s made from only two materialsPET, the material used in plastic water bottlesand steel springs. A specially-designed adhesive makes it possible to separate the materials with heat instead of energy-intensive shredding. PET is also easier to recycle than foam. The design has fewer than half of the components of a typical mattress, but is as comfortable, the company says, with better ventilation than a foam mattress. RetourMatras says that mattress brands can tour its facilities to better understand how to design for recyclability. It will take time to see the benefits. “We’re dismantling mattresses from 10 years ago,” says Chico van Hemert, managingdirector at RetourMatras. “If we change something now, we’ll benefit in 10 years.” Meanwhile, IKEA’s product developers are also figuring out how to use the new recycled foam. Right now, it only makes up a small percentage of the total material in the company’s products; one IKEA mattress sold in the Netherlands, for example, uses 10% recycled polyol, the main building block for making foam. That percentage can increase as the supply of recycled material keeps growing and costs come down. “The biggest challenge is to get more mattresses,” says Pater. IKEA collects old mattresses at its stores, but governments need the right policies to collect mattresses at a large scale. Several European countries now have “extended producer responsibility” laws that require mattress retailers to figure out how to get old mattresses back for recycling. The U.S. lags behind, but four states also have similar laws. “We need more markets, more countries, to implement the right legislation,” he says.
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E-Commerce
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