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Tags:Artificial IntelligenceClothingE-commerceFashionIndustryOnlinePersonalProductSalesShop
Today's fashion e-commerce industry is in urgent need of relevant personalisation that allows consumers to make more educated and sustainable choices when buying clothes. The way that products are currently being suggested to customers is based on trends, latest catwalks or what celebrities/influencers wear. No one seems to take into consideration whether these products actually suit and flatter the consumer on an individual basis. As a result every second online purchase is being returned in the UK (the rate goes up to 70% in Germany). The associated costs of handling returns have been quantified to be £20BN per year for UK retailers alone; that equates to the GDP of Estonia. As online fashion shopping is forecast to increase further, so will the return rates and associated costs. Besides hurting retailers and consumers, this also has a damaging environmental impact contributing to additional waste, ever increasing landfills and unsustainable working conditions in garment factories: fashion, after petroleum, is the 2nd biggest polluter in the world. With the help of AI we can increase the accuracy, speed and scale of truly personalised recommendations to consumers, taking into consideration what will actually fit and flatter them (we don't recommend sizing). In the process we aim to help reduce the number of items that are returned along with the associated impacts. We also believe that, through our white-label offering, we will be able to generate a more positive brand association, customer loyalty and happiness on behalf of the retailer. Once fully built out, this recommendation engine is fully scale-able and can be applied to any person and any clothing item in the world.
Location: United Kingdom, England, London
Member count: 1-10
Founded date: 2016

Investors 2