Clothes Horse, Nineteenth Amendment, Perch Interactive, StyleSage, Stylinity, Stylit, Suddenlee, and Trendalytics Debut at Inaugural New York Program for Fashion Technology Entrepreneurs
NEW YORK; July 24, 2014 – Innovative data analytics, digital fit, interactive display, and omnichannel technologies were among the products pitched today at the first New York Fashion Tech Lab (“NYFT Lab”) Demo Day. The Lab is a 12-week mentoring program created by venture catalyst Springboard Enterprises and the Partnership Fund for New York City, the investment arm of the the city’s leading business organization.
The project is supported by nine of the world’s leading fashion and retail companies to promote growth in fashion technology innovation and high tech job growth in New York City. The Founding Members supporting the Lab include: Alex and Ani, ANN INC., The Estee Lauder Companies Inc., J.Crew, Kate Spade and Company, Li & Fung / Global Brands Group, LVMH / Marc Jacobs, Macy’s, and Ralph Lauren Corporation. Their chief technology officers selected the group of young companies to participate in the program. These companies spent the last 12 weeks receiving high level mentoring, product and business development advice and exposure to experts from the fashion and retail, technology and venture capital industries.
The 2014 New York Fashion Tech Lab participants are:
- Clothes Horse solves the pain of getting the right size and fit when shopping right on the retailer’s website. Customers include Anthropologie, Bluefly, Steven Alan, Nicole Miller, GANT and Todd Snyder.
- Nineteenth Amendment is a marketplace for emerging fashion designers to showcase and sell their design through an interactive, crowdsourcing model and scale manufacturing for the benefit of large retailers.
- Perch Interactive produces an innovative in-store interactive media platform for product displays with built-in shopper analytics.
- StyleSage is a strategic analytics web platform that helps fashion retailers and brands with critical in-and-next season decisions on pricing, assortment and promotions in real time.
- Stylinity raises the selfie to the level of a Vogue photo shoot and then facilitates sales with its click to buy feature. Powered by its patented social commerce platform and mobile app, seamlessly integrating with your e-commerce platform, you not only see who is sharing, but the results of that sharing – engagement and revenue increases per user.
- Stylit’s patented styling platform unites the magic of technology generated analytics with the creative artistry of the stylists to provide a more personalized, smarter shopping experience. Stylit is fueling the future of fashion search and predictive styling.
- Suddenlee is the distribution solution for specialty stores and small to medium fashion brands. Our shopping logistics technology enables efficient merchandise procurement, processing and shipping for next day delivery on a regional basis at a cost that is comparable to standard fulfillment and shipping.
- Trendalytics is a visual analytics platform that measures how merchandise trends resonate with consumers as derived from social chatter, search behavior and shared images revealing actionable insights on product assortments, regional demand and seasonality.
“The fashion industry has a unique challenge to keep up with consumer expectations and the need for technology innovation is constant. This innovation comes in many forms from mobile integration, manufacturing, marketing, to predictive analytics, fit, wearable technology, and inventory distribution and control,” remarked Kay Koplovitz, Founder of the New York Fashion Tech Lab and Co-Founder, Springboard Enterprises. “We aimed for impact in pairing NYC’ iconic fashion brands and retailers with early stage innovators that were addressing the challenges and opportunities facing the industry today and tomorrow.”
“The tech sector is booming, both In New York and the rest of the world, and fashion is a major component of it,” said Maria Gotsch, President and CEO of the Partnership Fund for New York City. “The unprecedented involvement of some of the world’s top retailers signifies the importance of the tech space for the future of the fashion industry. Their expertise and insight help foster the innovative and entrepreneurial spirit that makes New York City a major hub in their industry. We are excited about the progress the inaugural class has made as a result of their mentoring.”
“ANN INC. is proud to be a founding member of the New York Tech Fashion Lab,” said Michelle Garvey, Chief Information Officer, ANN INC., the parent company of Ann Taylor and LOFT, “The participants have products that are unique to the marketplace and we are looking forward to seeing how these visionaries will impact the industry.”
Additional supporters include AlleyNYC, Covington & Burling LP, Mintz Levin PC, Koombea and Hearst. For more information about NYFT Lab, visit www.nyftlab.com and follow @nyftlab on Twitter.
About the Partnership Fund for New York City
The Partnership Fund for New York City is the $110 million investment arm of the Partnership for New York City (www.pfnyc.org). The Fund’s mission is to engage the City’s business leaders to identify and support promising NYC-based entrepreneurs in both the for-profit and non-profit sectors to create jobs, spur new business and expand opportunities for New Yorkers to participate in the City’s economy. The Fund is governed by a Board of Directors co-chaired by Richard M. Cashin, Managing Partner of One Equity Partners, and Charles “Chip” Kaye, co-president of Warburg Pincus LLC. Maria Gotsch serves as President and CEO of the Fund.
About Springboard Enterprises
Venture-catalyst Springboard Enterprises is a highly vetted network of influencers, investors and innovators helping women build ‘big businesses starting small’. Springboard sources, coaches, showcases and supports growth companies seeking equity capital for product development and expansion. 556 women-led companies have participated in Springboard’s accelerator programs; raising $6.5 billion, creating tens of thousands of new jobs, and generating billions of dollars in annual revenues. 83% of Springboard companies are still in business as independent or merged entities, including 11 IPOs and many are the technology engines of publicly traded companies.