The new Morgan Stanley Access I spacesuit was on display; it was conceptualized with a team of space experts, historians, and engineers.Photo: Danny Ghitis
“That was an eye opener for us,” said Alice Milligan, Morgan Stanley’s CMO. “With Morgan Stanley Equities Research predicting that the global space industry will surge to more than$1 trillion by the year 2040, we believe we have an opportunity to help break down barriers and provide everyone with an equitable opportunity to participate in the growing space economy.”
To that end, the financial services company decided to collaborate with Courageous, the brand studio of CNN, to bring awareness to the issue of inclusive spacesuit design by unveiling a conceptual model spacesuit in Times Square in October.
The immersive activation, called “Creating Space,” allowed visitors to explore the history of spacesuit design with displays showcasing historic replica suits, plus pose for photos as astronauts via augmented-reality (AR) technology. As an engagement-encouraging add-on, photos that were shared to social media were beamed to the signage outside Morgan Stanley’s Times Square headquarters.
Visitors could also walk through a “galaxy room” with mirrored walls, floors, and a ceiling that projected images from the James Webb Space Telescope. And on the way out, the new Morgan Stanley Access I spacesuit was on display; it was conceptualized with a team of space experts, including Vinita Marwaha Madill, founder of Rocket Women, which highlights women in STEM industries, along with historians and engineers.
On the International Space Station (ISS), suits known as HUT units are currently only available in medium, large, and extra-large, which is why the first all-female spacewalk was canceled (there weren’t enough medium-sized units ready). To increase inclusivity, Morgan Stanley’s speculative suit concept includes air bladders in the chest cavity that can be inflated or deflated to accommodate different torso shapes and sizes, as well as improved joint components for better mobility.
The “Creating Space” activation was “part of a larger partnership with CNN to bring attention to the need for more inclusive spacesuit design and help remove barriers for women in space,” Milligan said. The one-day activation welcomed about 3,000 visitors; folks can still learn more on CNN.com.
The spacesuit project is also the latest effort within Morgan Stanley’s larger marketing strategy. “As a firm, we’re very committed to championing diversity and inclusion, and you’ll see that increasingly reflected in the way we go to market as a brand,” Milligan said.
The company has collaborated with fashion designer Rebecca Minkoff to redesign the traditional banker bag—which has typically been carried by men on Wall Street—for a broader audience. The bag was launched in Sept., during the most recent New York Fashion Week. And brand ambassador Leylah Fernandez, a 20-year-old Canadian tennis pro and citizen of Ecuadorian and Filipino descent, appeared in a new ad spot for Morgan Stanley that launched during the U.S. Open. “The response we had on both initiatives was tremendous with social and earned media metrics far surpassing benchmarks,” Milligan said.
Citing the recent Edelman Trust Barometer (a score that measures the average percent of trust in institutions like NGOs, business, government, and media), Milligan pointed to the reported 58% of respondents said that they will buy or advocate for brands based on their beliefs and values. She added that “increasingly, there is an expectation that brands do well by doing good; that they stand up and champion initiatives that put purpose front and center and build more equitable, representative, and inclusive cultures.”
Scroll to see more from Morgan Stanley's “Creating Space” activation...
