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 social media platform acquired the fit tech startup, it announced Wednesday, in an attempt to further move into the fashion and e-commerce space. The terms of the deal were not disclosed.
Berlin-based Fit Analytics uses data to help shoppers find the right sizes for apparel and footwear, in addition to other personalisation tools aimed at boosting sales.
Fit Analytics’ technology team will report to Snapchat vice president of engineering Nima Khajehnouri. Fit Analytics confirmed in a statement that they will work on helping Snapchat build its own shopping platform while operating its own business separately. The startup has already worked with a large number of retailers including Asos, Calvin Klein and Patagonia.
”By leveraging Snap’s scale and capabilities, we will not only continue to service our existing clients, but also deepen our relationships and offerings with our brand partners and retailers,” Fit Analytics’ chief executive and co-founder Sebastian Schulze wrote in a blog post announcing the deal.
Apple’s expected announcement of its mixed-reality headset on June 5 will undoubtedly shape expectations about the metaverse. Many in the fashion industry will be keeping close watch. That, plus what else to watch for in the coming week.
The sneaker giant’s first NFT sale this week offered a bright spot for web3 hopes and illustrated that they can still offer a way to build and connect with a community — if brands do it right.
With the industry starting to use the technology for everything from campaign imagery to shopping assistants, it risks replicating biases based on race, body type, age and disability that it has spent years loudly claiming it wants to move past.
BoF’s Marc Bain and a group of panellists break down the state of web3 in fashion and where the technology is headed.