6 London Fashion Tech Start-Ups You Should Know

It's no secret that London is currently one of the biggest Fashion Tech hubs in the world, with start-up after start-up coming out of the capital. Since that fateful day three years ago, there's been news of sector after sector in the UK facing difficulties sure to Brexit and its uncertainties, this has certainly not been the case for the Fashion Tech industry in London. This has been mainly due to London being a fashion capital, London's geographical location between Europe and the Americas, low start-up costs in Fashion Tech, and plenty of available capital not seen since pre-2008. Nonetheless, here are six start-ups in London that you have to know.


Dressipi

Founded in 2011 by Donna North and Sarah McVittie, Dressipi (pronounced ‘dress-i-pi’) is the world’s only fashion prediction platform. The London start-up helps retailers predict the nature of what customers want to buy and what they are more likely to not-return. This optimises probability for the retailer, while at the same time providing the best clothing options for customers, thereby reducing extra costs such as returns. Dressipi claims that due to its data-driven approach they can increase revenues by a minimum of 8% (in net incremental revenue per visitor) and decrease returns by 15%. Additionally, customers can build a profile via Dressipi across multiple retailers so that customers get a better experience through a greater amount of data leading to better results.

Farfetch

The highest valued company out of the six, Farfetch has reached unicorn status by being valued at more than $1 billion. Farfetch is a platform that has over 300 high-end fashion boutiques from all across the world and can be ordered through one medium. All those little Parisian and Milanese boutiques that you have always wanted to buy from can now be reached from the comfort of your own home. The company has been such a hit that it reached a pre-IPO valuation of $1 billion, something which ASOS was never able to achieve. It’s closest competitors, however, are Net-a-Porter and Matchesfashion. Farfetch’s current market cap is just under $6.5 billion (as of the day this article was published).

Spoke

London-based startup, Spoke, has the goal of making menswear clothing fit better, and it seems as if they are on the right track. The start-up was founded by Ben Farren and launched in 2014. According to Farren, the company grew five times in 2015 while tripling revenues in the first half of 2016. Spoke is doing this by providing more cuts for clothing items and then finishing them to order so that that the fit is perfect for the customer. Farren founded the company after having the realisation that he had trouble finding correctly fitting clothes, and he was average sized so it must be even worse for others. Spoke is currently available in the UK and the US.

Intelistyle

Intelistyle was launched in 2017 by founders Kostas Koukoravas (previously launched AI technology for Microsoft, Skype, and the BBC) and Michael Michelis (previously launched Android apps). The idea behind the startup is to provide an ‘AI fashion stylist’ from its app. The app lets customers see a wide variety of clothes from online stores, or if they can’t find what they are looking for they can take a picture themselves. This process is so that the ‘AI fashion stylist’ can process your preferences and choices as well current trends, so that it can get a very accurate idea of what kind of clothes you are looking for. According to Intelistyle, they use 256 different style parameters to help make its choices leading to a 80% accuracy in comparison to human stylists. The retailers that Intelistyle has partnered with include Mango, H&M, Nike, Urban Outfitters, ASOS, and many more.

Save Your Wardrobe

The average person only uses 20% of the clothes in their wardrobe, and Save Your Wardrobe is trying to change that. Save Your Wardrobe digitises your wardrobe by instantly uploading the clothes you bought through email receipts. Through this, the app will begin to learn your style and will be able to recommend new outfits based on what the app has learned. The app itself also provides an ecosystem of services to either take care of your clothes or to give them a second life. The company was founded in June 2017 by Hasna Kourda and Mehdi Doghri. The app has not been launched as of yet, however you can sign up to get early access right now.

Metail

Founded by Cambridge graduate, Tom Adeyoola, Metail is London-based startup that applies computer vision technology to a variety of problems within the fashion retail sector. Some of the work Metail does ranges from the virtual fitting rooms for ecommerce websites to the digitisation of clothes. However, the main product form Metail is the ‘MeModel’. The ‘MeModel’ is a virtual version of you, that was created using your measurements, thus enabling you to see what certain garments look like on you. The company wants to digitise the world’s garments by using its software. Additionally, Metail’s ‘Composed Photography’ product enables e-commerce retailers to drastically reduce the cost of photoshoots by expertly blending product shots with model images provided from Metail’s own library.

Comments

back to top