Beyond The Limits 1.04.2024

🔥 Welcome to our newsletter for the week. We have gathered some of the most interesting news and updates from the world of circularity, technology, fashion, and luxury.

🌟 Fashion Tech Event

The forthcoming e-P Summit fashion tech conference, organized by Pitti Immagine , will shine a spotlight on Artificial Intelligence (AI) as a pivotal innovation in the fashion industry. Scheduled for April 9 and 10 at Florence's Stazione Leopolda venue, the event will feature over 25 speakers, 47 exhibiting companies, and eight fashion tech start-ups competing for an associated award. Raffaello Napoleone , CEO of Pitti Immagine, emphasized the growing significance of AI and digital innovation amid the current complex landscape. The summit, overseen by Professor Rinaldo Rinaldi from the University of Florence, aims to address the multifaceted impacts of AI on various fashion operations, providing attendees with essential knowledge and tools for embracing transformative innovation. The agenda includes discussions on AI's influence on fashion and luxury, its role in enhancing supply chain transparency, and its potential for reshaping retail and manufacturing, with representatives from notable brands such as Roberto Cavalli and Vibram Group . A dedicated area within the venue will showcase cutting-edge machinery and innovations aimed at advancing the concept of "smart factories" in leather goods and apparel manufacturing. The event also features the second edition of the Innovation Call, a start-up award sponsored by UniCredit, recognizing innovative ventures in the fashion tech space.

👗 Fashion

In response to the challenges posed by an oversaturated fashion market, many brands are reassessing their strategies to better align with customer needs and ensure long-term brand viability. The adoption of made-to-order models, such as the ones introduced by Giorgio Armani or the silk fashion brand Worme, exemplify this trend. Recognizing the imperative of mindful manufacturing practices, especially within the fashion industry, these brands are increasingly prioritizing efficiency and sustainability to avoid overproduction and minimize waste. The shift towards made-to-order approaches allows brands to produce goods based on specific customer demand, thereby allow customers to select classic garments and customize them with personal details directly in-store or reducing excess inventory and streamlining their supply chains. By embracing this model, brands can also localize their production processes, sourcing materials and labor within their respective regions to support local economies and reduce environmental impact. Furthermore, made-to-order strategies empower brands to offer personalized shopping experiences while promoting a more conscious approach to consumerism. Customers benefit from knowing that their purchases are tailored to their preferences and are produced in a responsible manner. This trend reflects a broader shift within the fashion industry towards greater flexibility and adaptability. By breaking away from traditional fashion calendars and embracing innovative business models, brands can better meet the evolving needs and expectations of their diverse customer base. Ultimately, the adoption of made-to-order models underscores a commitment to sustainability, creativity, and customer-centricity in the ever-changing landscape of fashion.

👾 AI

Shortly after launching its Constellation Order Management System (OMS) in late February, Cart.com has introduced Constellation AI, a suite of AI features integrated across its software, services, and logistic technologies. The Austin-based company, established less than four years ago, has rapidly become recognized as one of the fastest-growing commerce and logistics firms, boasting a platform with over 6,000 brands. Cart.com's solutions empower merchants to sell and fulfill orders across various channels, investing in unifying physical and digital infrastructure to streamline omnichannel operations. With Constellation AI, Cart.com aims to enhance efficiency in product selling and listing while enabling informed inventory planning through advanced forecasting. Constellation AI offers five key capabilities. Firstly, it identifies new sales channels with growth potential based on existing product offerings. Secondly, it generates and optimizes product titles, descriptions, and attributes using proprietary language models tailored for commerce. Thirdly, it automates pricing across marketplace channels to optimize sales through intelligent repricing. Fourthly, it provides data-driven demand forecasting at both SKU and sales channel levels. Lastly, it optimizes inventory ordering and placement. Omair Tariq, Cart.com's founder and CEO, emphasized the significance of leveraging data and AI throughout the commerce value chain to eliminate guesswork in marketing products and managing inventory. The company's ongoing investment in AI capabilities underscores its commitment to delivering value to its customer base.

✨ Luxury 

THOMAS SABO , a renowned jewellery brand, has joined forces with the digital fashion game Pocket Styler to unveil its inaugural jewellery and accessories line, available both in physical stores and virtually. The collection, comprising 50 pieces including jewellery, sunglasses, and watches, enables enthusiasts to replicate the latest trends for their online avatars and purchase the items in real life. According to global statistics, a significant portion of the population engages in online gaming, with a substantial number investing in virtual attire for their avatars, influencing their real-world fashion choices. Thomas Sabo's collaboration with Pocket Styler, a leading digital fashion platform known as the 'globe’s online catwalk,' was driven by the game's extensive digital fashion footprint. With millions of downloads worldwide and thousands of hours of gameplay daily, Pocket Styler offers players a vast array of outfit combinations and has previously partnered with esteemed fashion brands like DAVID KOMA LONDON and Marc Cain . Victoria Trofimova , CEO of Nordcurrent , the developer of Pocket Styler, emphasized the game's role in bridging the gap between digital and physical fashion realms, providing players with a platform to explore fashion, refine their style, and connect with others.

💻 Innovative Shopping 

AliExpress , a leading Chinese marketplace platform, has launched a livestreaming e-commerce service in collaboration with Vogue Business , expanding its reach beyond China. The platform features livestreaming videos hosted by local influencers showcasing various products for sale. This initiative is part of AliExpress's broader strategy to integrate livestreaming into its e-commerce platform, providing a more interactive shopping experience for users. Influencers participating in the program earn commissions on sales generated from their livestreams and have opportunities to develop their own fashion collections through competitions. Livestreaming shopping has gained popularity in China and is now being introduced to other markets to meet growing consumer demand for immersive online shopping experiences. While livestreaming shopping has seen success in some regions, challenges have been encountered in others. For example, TikTok's attempt to introduce live shopping in certain markets faced difficulties meeting targets and retaining influencers. As a result, the focus of livestreaming strategies may vary depending on regional consumer preferences and market dynamics. AliExpress's entry into the livestreaming e-commerce space signifies a broader trend in the industry towards integrating interactive content into online shopping platforms to enhance user engagement and drive sales.

👏Congrats to Pitti Immagine , Giorgio Armani , Cart.com, THOMAS SABO , AliExpress !

💡 Stay tuned for more updates and, as always, feel free to share your thoughts with us!

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