Digital Start-ups Offer Real Solutions for the Fashion Industry | Instant News


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mode and luxury brands who want to protect and even grow their business during the global economic crisis caused by coronavirus. “data-reactid =” 20 “> At times determined by uncertainty, the search for innovative and efficient solutions seems to be more urgent than ever mode and luxury brands who want to maintain and even develop their business during the global economic crisis caused by coronavirus.

digital start-up increasingly appear to be the right partner to help establish, in many cases very traditional, companies & nbsp; navigate the future. “data-reactid =” 21 “> When it comes to finding practical solutions to problems, digital start-up increasingly appearing to be the right partner to help establish, in many cases very traditionally, companies navigate the future.

Fashion Technology Accelerator. “The company finally understands the potential of digital solutions, which have become priorities. Before the crisis, the problem was not technology, but culture. “” Data-reactid = “25”> “In this period, I really saw that the brand was actively looking for digital solutions, which a few months ago would find many difficulties that the market had to consider,” said Giusy Cannone, CEO Fashion Technology Accelerator. “The company finally understands the potential of digital solutions, which have become priorities. Before the crisis, the problem was not technology, but culture. “

technology, “Said Alessandro Sordi, one of the founders of Nana Bianca’s digital start-up accelerator. “For this reason, we hope that, according to the end of the health emergency, an important part of investment will be destined for the innovation sector, where the beginners are a bastion of our hopes.” “Data-reactid =” 26 “>” Digital transformation of Italian companies has always been a weakness in the economic development of our country. Given the expected and upcoming economic crises, the current state of emergency has shown two main things: first, digitizing companies’ Processes and operations are fundamental to dealing with a fast global market, which is also richer than our domestic market; secondly, the beginners who lead the world economy are all born in countries that significantly invest in innovation and technology, “Said Alessandro Sordi, one of the founders of Nana Bianca’s digital start-up accelerator. “For this reason, we hope that, according to the end of the health emergency, an important part of investment will be directed to the innovation sector, where new companies are a bastion of our hopes.

The Italian luxury association Altagamma, believes it must be a top priority for the country’s top class companies. “Due to the COVID-19 emergency, luxury brands will need three years to recover from the crisis,” Lazzaroni said, during the recent “FashionTech Global Summit” from Startupbootcamp, held digitally in collaboration with several brands, including Prada and Stone Island. “To face a crisis, they must focus on three main elements: investment in digitalization; learn more about consumers, most of which will come from China, and focus on environmental sustainability. “” data-reactid = “27”> Matching heritage and innovation to be more contemporary is a goal that Stefania Lazzaroni, general manager of The Italian luxury association Altagamma, believes it must be a top priority for the country’s top class companies. “Due to the COVID-19 emergency, luxury brands will need three years to recover from the crisis,” Lazzaroni said, during the recent “FashionTech Global Summit” from Startupbootcamp, held digitally in collaboration with several brands, including Prada and Stone Island. “To face a crisis, they must focus on three main elements: investment in digitalization; learn more about consumers, most of which will come from China, and focus on environmental sustainability. “

Salvatore Ferragamo the company is cooperating with Mode Technology The accelerator at “Circularity Ideathon 2020,” which gave 25 groups of young students and entrepreneurs the opportunity to attend workshops and develop projects that offer solutions based on circular economics. Five projects that made it to the finals were presented late last month in a virtual event. The jury consisting of chief executive Salvatore Ferragamo Micaela Le Divelec Lemmi, fashion designer Paula Cademartori and Matteo Ward, co-founders of the sustainable fashion startup Wråd, called the Animo project,& nbsp; which focuses on innovative ways to communicate sustainability with a focus on Gen Z, the winner of the program. The team leader of the winning group, Giovanni Bertolini, will have the opportunity to do an internship at Salvatore Ferragamo. “Data-reactid =” 28 “> In line with this, for example, Salvatore Ferragamo the company is cooperating with Mode Technology The accelerator at “Circularity Ideathon 2020,” which gave 25 groups of young students and entrepreneurs the opportunity to attend workshops and develop projects that offer solutions based on circular economics. Five projects that made it to the finals were presented late last month in a virtual event. The jury consisting of chief executive Salvatore Ferragamo Micaela Le Divelec Lemmi, fashion designer Paula Cademartori and Matteo Ward, co-founders of the sustainable fashion startup Wråd, called the Animo project, which focuses on innovative ways to communicate sustainability with a focus on Gen Z, the winner of the program. The team leader of the winning group, Giovanni Bertolini, will have the opportunity to do an internship at Salvatore Ferragamo.

Due to the possibility of a global recession, which will see a reduction in budget and travel, Luca Solca, senior research analyst, global luxury goods at Bernstein, highlighted the importance of brands to use technology not only to enhance their online business but also to harness the power of data to find “new ways to attack strategy. “

According to Cannone, currently the world of fashion is not attractive for funds that want to invest in startup companies. “Investors are now more interested in innovative solutions in the fields of e-learning, smart work, health and welfare, and food delivery,” he said.

“Global Mode & amp; Luxury Equity Survey and Luxury Investor 2020 “ shows that 57 percent of strategic and financial investors plan to invest in disruptive technology this year with a focus on IoT services, big data and analytics, and artificial intelligence. “data-reactid =” 31 “> However, as a survey released by Deloitte highlights, the real world of luxury still seems to be very attractive to investors, especially when it comes to digital luxury. “Global Fashion & Luxury Private Equity and Investors Survey 2020” shows that 57 percent of strategic and financial investors plan to invest in disruptive technology this year with a focus on IoT services, big data and analytics, and artificial intelligence.

This financial injection will be very important for the future of digital startups which, as Cannone stresses, because of their small size in many cases suffer from a lack of liquidity.

“The world of new companies is made up of small companies, which are very flexible, and in some cases, during emergencies, succeed in changing their business to meet current market needs,” Cannone said, pointing out that it wasn’t all fun and play in the world of technological innovation. “But, not everything that sparkles is gold, and most of these digital companies have liquidity problems. For the first two or three years, they did not get income and if at this time they did not manage to adjust their business to the market, they went bankrupt. “

But what are the closest challenges that the fashion and luxury industry needs to face? Now, more than ever, turning traffic on websites and social media into actual sales seems to be a priority, and effectively engaging buyers and customers in the new virtual showrooms and retail environment. In addition, the company seeks to rationalize production, costs and resources to reduce waste, become more efficient and promote a more sustainable business model.

& nbsp; & nbsp;“data-reactid =” 39 “> Here, WWD offers a gathering of the most promising global startups that offer concrete solutions to these priority problems.

& nbsp; & nbsp;“data-reactid =” 43 “> With most trade shows canceled or postponed and limited travel, an Italian startup BSamply, founded by Andrea Fiume, is a useful tool for textile companies to showcase their collections to brands. An approachable and intuitive digital platform, BSamply allows weavers to upload up to 1,000 products, which can be analyzed, ordered and purchased by clients.

Believing that a little more, Penguinpass offers a convenient approach to event management, allowing users to quickly make save dates, collect confirmations and digitally carry out the check-in phase. This service has been used by leading institutions and companies, including the Micam and Cosmoprof trade shows and luxury labels, such as Fendi and Moschino. During the COVID-19 emergency, Penguinpass launched services for digital events, targeting companies that needed to organize virtual events. In addition, the Penguinpass application also tracks the presence of guests at a distance, allowing organizers to ensure that the limits imposed by the authorities at events will be respected.

& nbsp; & nbsp;“data-reactid =” 53 “> Digital clothing is one of the hottest topics in the industry, mainly because it seems to offer a fun and attractive choice to fight overconsumption. Especially speaking to Gen Z members who are very concerned about the issue. , Erika Lamperti was established IL3X, a start which, through the use of augmented reality technology, enables the creation of digital clothing that can be used on social media, also for viral marketing campaigns.

The fashion sample trade stalled during a coronavirus emergency. With businesses slowly restarting, Bookalook has just begun to enable brands to digitally manage sample trade, schedule shipments and returns, and make performance reports. This platform also allows brands to interact digitally with stylists and influencers who can vote online instead of physically going to the showroom.

Founded by Andrei Makarov and Maria Makarova, GFaive is intended to enable brands to stay ahead of the competition. Adopting artificial intelligence technology, GFaives offers a forecast collection mode that is not only based on historical data but uses predictive analytic tools that provide a clear picture of what needs to be produced and supports optimization of various and estimated demand.

& nbsp; & nbsp;“data-reactid =” 64 “> Based on the principles of sustainability and circular economy, a new company based in Milan Swapush, founded by Serena Luglio, creates a digital platform and application where users can get new products and get rid of the things they no longer want with a barter system. Swapush organizes string parties for individuals and companies and through the application provides the opportunity to exchange goods without using money.

& nbsp; & nbsp;“data-reactid =” 66 “> Founded by Iris Skrami and Gabriele Trapani, Renoon is a search platform for sustainable fashion. Renoon collects together products and brands that meet a set of environmentally friendly standards. No shopping transactions are completed on the platform, in fact after choosing a product, the buyer is directed to the wholesaler.

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