The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The company, whose software allows fashion brands like Lululemon, Nike and Adidas to create virtual 3D renderings of designs, will use the funding to accelerate growth.
The pandemic helped accelerate adoption of digital tools in the industry and Browzwear said it plans to double the size of its business in the next two years and triple its global workforce.
The funding round marks the first time Browzwear has raised institutional financing and was led by growth equity firm Radian Capital.
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The Fashion-Tech Tools Getting a Boost As Covid-19 Takes Hold
As businesses pivot to remote working and e-commerce, specialist digital platforms catering to the fashion industry seem set to grow.
It’s been a tough year for luxury e-commerce — but a crop of smaller marketplaces are beating the odds with a focus on emerging accessible luxury brands and a firmer grip on operating costs.
The nature of livestream transactions makes it hard to identify and weed out counterfeits and fakes despite growth of new technologies aimed at detecting infringement.
The extraordinary expectations placed on the technology have set it up for the inevitable comedown. But that’s when the real work of seeing whether it can be truly transformative begins.
Successful social media acquisitions require keeping both talent and technology in place. Neither is likely to happen in a deal for the Chinese app, writes Dave Lee.