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.
"Farfetch, an Online Boutique, Enjoys Its Moment" (The New York Times)
"[Jose Neves] has turned his six-year-old site into a big business, and, apparently, a very appealing investment. Farfetch has raised $66 million in its latest investment round, on top of the $42.5 million it had already raised over the previous three years. The start-up had more than $160 million in sales last year and is quickly becoming one of the more intriguing players in the online shopping world."
"Making Wearable Tech More Wearable" (The New Yorker)
"This week, Ahrendts will join Apple as its head of retail. With her pedigree, she has a chance to solve tech companies' fashion dilemma: how to create wearable technologies that people actually want to wear. (Ahrendts also has considerable experience in China, where Apple currently has thirteen stores and plans to triple that number within two years.)"
"The New Style Counsel Start-Ups" (The Financial Times)
"Many retailers are struggling to understand these customers. They have grown up on social media and been pinched by a global economy that has been particularly harsh for young people. Yet as these factors confound some retailers, they have also opened the way for new contenders in online commerce, upstarts such as Wanelo, Nasty Gal and ModCloth as well as Dolls Kill."
"Nike President on Fuelband News: We're Excited for a Future With Apple" (Mashable)
"Nike President and CEO Mark Parker has added fuel to rumors on Friday that the company's Fuelband software could end up in the Apple iWatch. In an interview with CNBC, the executive stressed the importance of its existing relationship with Apple and is 'excited about where that relationship will go forward.'"
"'Swiping Is The New Liking' Now Applies To Shoe Shopping" (TechCrunch)
"Stylect, a shoe shopping app for iOS, has a Tinder-esque UI, underpinned by its own recommendation engine, to help women find and purchase the perfect pair of shoes. If you have déjà vu, you are not alone. A ton of 'Tinder for X' apps have sprung up over the last year, with the 'swipe right, swipe left' model – a User Interface Stylect co-founder Giacomo Summa describes as 'addictive' — proving popular with users and investors alike."
At The Business of Fashion’s Professional Summit in New York last week, Sona Abaryan, partner and global retail and luxury sector lead at tech-enabled data science firm Ekimetrics, shared how businesses can more effectively leverage AI-driven insights on consumer behaviour to achieve a customer-centric strategic approach.
From customer loyalty types to its pillars of personalisation, SAP Emarsys customer engagement provides more than 1,500 companies with personalised marketing campaigns via AI-powered analytics, including Puma, Aldo and Reformation. BoF learns more.
Before fashion businesses can put artificial intelligence to work or target the right shoppers online, they need good data and a deep understanding of who their customers are and what they want. This case study offers a guide for brands that want to truly know their customer, allowing them to make smarter decisions that serve shoppers and drive results.
The US House of Representatives approved a bill that could ultimately lead to a ban of the app, but its path forward remains far from certain.