recognized among List of startups and startupsEvelyn Mora is one of the best new voices making up the metaverse. Mora from Paris founded Helsinki Fashion Week in 2018, and in 2020 hosted the world’s first 3D virtual fashion week, which was broadcast by more than 500,000 people.
Building on this post, Mora sought to realize the potential of Web3 tools – third-generation web technologies such as blockchain and AI – to create alternative and sustainable business models for retailers.
In 2021, Mora founded Digital Village, a platform that exists to help solve the problems and challenges traditional fashion brands face when moving into the Web3 space.
It uses tools and technologies across social media, games, and e-commerce to bring brands to Web3, IoT, and virtual environments.
It encourages brands and creators to build their own metaverses, with the future goal being a network of metaverses that users can enter and navigate around with a single avatar.
Users of Digital Village services can purchase their own metaverses and NFTs (non-fungible tokens), export assets from the marketplace, and build their own environments and communities. They will then be interoperable with other metaverses created in the digital village ecosystem.
The platform only launched in September, so the jury is out of place, but Mora’s work on the field makes her one to watch.
Virtual Fitting Rooms
Rates of return continue to affect the profits of retailers. In Texel, Sergey Klementiev – among Tech . List Collaborators – Built a solution to help alleviate the problem for retailers and consumers alike.
Founded in Kazakhstan in 2014, Texel offers a virtual tool for trial and scale. Klimentyev and his team develop and manufacture solutions that enable accurate 3D measurement of the human body, while the Texel Portal is an award-winning 3D full color body scanner.
Consumers can create digital avatars using scanning technology, while the company also runs a free product that lets users try on digital clothing when they present an image of themselves.
Although still in early adoption, Marks & Spencer has experimented with the technology and found that customers using the tool were five times more likely to buy and 30% less likely to return items.
The commercial potential is wide – Reports from last year show that 87% of global retail revenue is due to incorrect volume, so global body scanning technology can demystify suitability and lead to further reductions in customer refunds.
This potential was recognized in May at the Retail Week Live conference, when Texel was crowned the winner of the Discovery Stage – a presentation competition where 30 startups compete to appear at the event, providing access to key retail contacts as a result. Visualization technology is a tough one to solve, but if Texel succeeds, it could fix online fashion.
Shopping groups live
Promoted to Wayfair’s chief technology officer in March, Fiona Tan is spearheading several innovations, particularly direct shopping and social commerce.
celebrate between List of Tech Retailers and BrandsTan is no stranger to leadership in innovation on a global scale—she served as senior vice president of American technology at Walmart from 2014 to 2020.
Tan is now focused on building “Wayfair’s strengths as a technology enterprise” – and that includes driving hyper-personalization by doubling down on social commerce and enhanced stores to get closer to consumers.
In November, Wayfair entered the world of video shopping, launching its in-app video buying solution, Wayfair on Air. The Daily Show – which aims to make its home products more discoverable – sees presenters offering items with consumers able to buy directly.
This was followed by expanding the social selling partnership with TalkShopLive – using augmented and virtual reality to engage customers – cementing its position at the front of the pack for retailers using this technology to improve customer experience.
TalkShopLive works by giving consumers a digital view of what furniture will look like in their home, supporting their purchase. This activity also breaks down into an offline tan work. In December 2021, Wayfair said it would open three new physical stores all focused on digital – details were few about what would be included, but the retailer said it would be an “innovative format that blends the best of in-store and online shopping”.
Technology-driven alternatives to cotton clothing
Every fashion retailer wants to improve its environmental credentials while finding a way to continue mass-producing clothing in a way that does less harm to the environment – all while protecting margins. Petri Alava’s business has the potential to help solve this mystery.
Finland-based Infinited Fiber, co-founded by Alava – Startup and technical menu In 2016, we developed a remarkable recycling technology that creates an alternative to cotton made from cellulose. This technique uses old cotton clothing — as well as other forms of cellulose, such as cardboard — to create an innovative garment-making thread called Infinna. This reduces the use of virgin cotton and important resources, including water and land, needed to grow this cotton.
Alava faces a favorable problem of how to scale operations fast enough to meet large demand. In a funding round in July 2021, the company raised $30m (£27.5m) from investors including Adidas, Bestseller and lead investor H&M.
Patagonia signed a multi-year deal in June 2021, Zalando joined its investors in September 2021, and Ganni and Tommy Hilfiger released Infinna items in August of this year.
In May, Inditex signed a three-year €100m (£89m) deal to buy 30% of IFC’s future annual production volume from Infinna in a move Alava described as “significant” to its plans to build its first large-capacity plant. .
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