Notes from Mays Breakfast with the Disruptors, Featuring ... · Notes from May’s Breakfast with the Disruptors, Featuring ... emerging digital brands and consumer and retail ...
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May4,2017
DeborahWeinswig,ManagingDirector,FungGlobalRetail&Technologydeborahweinswig@fung1937.comUS:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
Notes from May’s Breakfast with the Disruptors, Featuring Fashion Tech Companies
1) OnMay2,FungGlobalRetail&TechnologyhosteditslatestinstallmentintheBreakfastwiththeDisruptorsseries,featuringeightstartupsinthefashiontechsector.Theevent,attendedbymorethan200guests,tookplaceatGlobalBrandsGroup’simpressivenewInnovationLabintheEmpireStateBuildinginNewYorkCity.
2) Thebreakfastwassponsoredbyproduct-labelsolutionscompanyAveryDennisonandcharityDignityUWear,whichprovidesclothingtopeopleinneed.TheeventincludedastartuppitchcompetitionjudgedbyexecutivesfromAveryDennison,GraceBeautyCapitalandGlobalBrandsGroup.
3) StartupsAirTailor,AwearSolutions,Everywear,Furnishr,MirrorThatLook,NineteenthAmendment,SmartzerandZielshowcasedavarietyofinnovativetech-poweredsolutionsforretail.
4) Whilethejudgesdeliberated,FungGlobalRetail&TechnologyManagingDirectorDeborahWeinswiggaveapresentationontheretailrevolutionthatisunderwayintheUSandthetopeightglobalretailtrendsthatarecurrentlyimpactingtheindustry.
5) Inasurpriseoutcome,twoofthepresentingstartups—EverywearandFurnishr—tiedforthewinningspot,andbothwillreceiveacashprizeprovidedbyAveryDennisonandGlobalBrandsGroup.
OnMay2,FungGlobalRetail&TechnologyhosteditslatestinstallmentintheBreakfastwiththeDisruptorsseries,featuringeightpromisingstartupsinthefashiontechsector.TheeventwasheldatGlobalBrandsGroup’snewInnovationLabintheEmpireStateBuilding,andmorethan200attendeespackedtheroom.
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May4,2017
DeborahWeinswig,ManagingDirector,FungGlobalRetail&Technologydeborahweinswig@fung1937.comUS:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
Followingopeningremarks,DeborahWeinswig,ManagingDirectorofFungGlobalRetail&Technology,introducedtheevent’ssponsorsandthejudgesforthepitchcompetition.Then,leadersoftheeightstartupseachgaveafour-minutepitchpresentation,followedbyatwo-minuteQ&Asession.Whilethejudgesdeliberatedoverwhichstartupwouldbeawardeda$2,500cashprizefromsponsorAveryDennison,WeinswiggaveabriefpresentationontheretailrevolutioncurrentlyunderwayintheUSandthetopeightglobalretailtrendsthatareimpactingtheindustry.Thepitchcompetitionendedwithasurprise,withtwostartups—EverywearandFurnishr—tyingforthewinningspot(asecondprizewascontributedbyGlobalBrandsGroup).
Source:FungGlobalRetail&Technology
TheSponsorsTheeventwassponsoredbyAveryDennisonandDignityUWear.
AveryDennisonisaglobalsupplierofpressure-sensitivelabelandfunctionalmaterialsandlabelingsolutionsforapparel.Thecompany’sapplicationsandtechnologiesareanintegralpartofproductsusedineverymajorindustry.Withoperationsinmorethan50countriesandmorethan25,000employeesworldwide,AveryDennisonservescustomersintheconsumerpackaging,graphicaldisplay,logistics,apparel,industrialandhealthcareindustries.HeadquarteredinGlendale,California,thecompanyreportedsalesof$6.1billionin2016.
DignityUWearhelpspeopleinneedbyprovidingnew,size-specificclothingtopartnernonprofitsocialserviceagenciesandschooldistricts,withafocusonchildren,familiesincrisis,thehomelessandveterans.Theorganizationalsoaimstohelpcreatecommunitieswhereallpeopleareabletolivewithdignityintimesofadversity,andtotouchtheheartsofthoseinneedtocreateabridgethatwilltakeindividualsfromalifeofdespairtobecomingaproductivememberofsociety.
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May4,2017
DeborahWeinswig,ManagingDirector,FungGlobalRetail&Technologydeborahweinswig@fung1937.comUS:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
Source:FungGlobalRetail&Technology
TheJudgesKathrynCavanaugh,Partner,GraceBeautyCapital,aprivatefamilyofficethatinvestsinemergingdigitalbrandsandconsumerandretailtechnologycompanies
JasonRabin,President,NorthAmerica&ChiefMerchandisingOfficer,GlobalBrandsGroup,aleadingglobalbrandedfashionaccessories,footwearandapparelcompany
JulieVargas,Director,ProductManagement,DigitalSolutions,AveryDennison
SummaryofDeborahWeinswig’sPresentation:TheUSRetailRevolutionandTopEightGlobalRetailTrendsWhilethejudgesdeliberatedoverwhichstartupwouldwinthepitchcompetition,WeinswiggaveapresentationontherevolutionthatisunderwayintheUSretailenvironmentandthetopeightglobalretailtrends.Highlightsincluded:
Source:FungGlobalRetail&Technology
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May4,2017
DeborahWeinswig,ManagingDirector,FungGlobalRetail&Technologydeborahweinswig@fung1937.comUS:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
USRetailRevolution1. ARetailRevolutionIsHappening:StoreOpeningsandClosures• Storeclosurescontinuetoexceedstoreopenings
• USmajorstoreopeningsfavordollarstoresandoff-priceretailers
2. All-ChannelUniverseWillRequireAdaptation• Retailersshouldviewtheshoppingexperienceastheircustomersdo,asoneall-
encompassingexperience,notassomethingthatoccursviaseparatechannelsanddevices
TopEightGlobalRetailTrends1. CorporateInnovationIstheNewR&D• Retailersandbrandsareshowinggrowinginterestininvestinginformalinnovation
teamsordedicatedinnovationcenters
• TheIsraeltechstartupsceneisboomingandAsiaisemergingasatopinnovationhub
2. TheStoreasaPlatform• Retailersserveasapotentialhubforcustomerstoone-stopshopforproductsand
services
• Retailersandbrandscanleverageonlineandin-storeservicestodrivetraffictostores
3. WellnessastheNewLuxury• Consumersareplacingmorevalueonhealthandwellnessthanon“things”
• Globalretailersarelaunchingdedicatedathleisureandwellnessspaces
4. ConsumersWanttobePartofaCommunity• Consumerswanttobeconnectedtootherswithwhomtheyhavesomethingin
common
• Retailersareaimingtocreatestoreswithabiggerpurpose
• Festivalsareawayforbrandstoconnectwithconsumersandbuildacommunityoffollowers
5. PersonalizationandCustomization• Theglobalpersonalizedgiftmarketisforecasttogrowata9%-plusCAGRbetween
2016and2021,accordingtoTechnavio• Brandsreachhighlevelsofengagementwhenconsumersareabletocreateone-
of-a-kindpiecesthatshowcasetheircreativity
6. ResaleIsThrivingWhileRetailIsStruggling• USapparelresale(onlineandoffline)isan$18billionindustry,andThredUP
estimatesitwillreach$33billionby2021
• Consumersarechoosingaccessoverownership
7. DemographicsSuggestanOpportunityinPlus-SizeApparel• Theplus-sizeapparelmarketisunderserved
• AccordingtoTheNPDGroup,approximately65%ofwomenintheUSwearasize14orhigher
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May4,2017
DeborahWeinswig,ManagingDirector,FungGlobalRetail&Technologydeborahweinswig@fung1937.comUS:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
8. SilverEconomy:TheAgingPopulationWillImpactRetail• Theseniorpopulationisgrowingacrosstheglobe
• Inretail,silvers’needsanddesiresdifferfromthoseofothergenerations;inJapan,retailersareaccommodatingsilversbymakingshoppingmoreconvenientandappealing
ThePresentingFashionTechStartupsAirTailorisanon-demandclothingalterationandrepairservicethatprovidesconsumerswithanaffordableandconvenienttailoringexperience.Throughanextensivenetworkoftailors,AirTailorpartnerswithretailerstoprovideflexibleandscalablealterationservices.
Source:FungGlobalRetail&Technology
AwearSolutionscreatedamobileappthathelpsfashioncompaniesunderstandproductusagepost-purchaseandengagewithconsumersinrealtime.Thesolutionreliesonadigitalchipembeddedingarments.TheAwearmobileappallowsconsumerstoberewardedforwearingtheirpurchasedapparelandtoreceivetargetedpromotions.
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May4,2017
DeborahWeinswig,ManagingDirector,FungGlobalRetail&Technologydeborahweinswig@fung1937.comUS:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
Source:FungGlobalRetail&Technology
EverywearisaB2Bsoftwareplatformthatpartnerswithbrandsandretailerstoofferpersonalizedstylingservices.Everywear’sbackendplugsintoretailers’databases,collectinguserpreferencesandpurchasedatathatisusedtooffercustomizedoutfitsandproductrecommendations.
Furnishrisaninteriordesignandhome-furnishingplatformthatmakesfurnishingspacesconvenientandaffordable.Itswebsiteprovideseverythingfrominteriordesigntodeliveryandassemblyservices.Onceacustomerpurchasesaroomdesign,allfurnitureanddécoritemswillbedeliveredandassembled.
MirrorThatLookusesartificialintelligence-poweredvisualsearchtechnologyforfashiongoodsthatenablesconsumerstogetreal-time,shop-the-lookresultsandcomparepricesacrossbrandsandretailers.Thetechnologydetectsallofthestyleelementsofanoutfitinaphotoorvideoandshowstheusermatchingproductsfrombrandsandretailers.
Source:FungGlobalRetail&Technology
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May4,2017
DeborahWeinswig,ManagingDirector,FungGlobalRetail&Technologydeborahweinswig@fung1937.comUS:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
NineteenthAmendmentisanon-demandmarketplaceandproductiontoolforbrandsanddesignersthatallowsthemtopre-selldesigns,testdesigns,gathershopperfeedbackandworkwithateamofsmall-batchmanufacturerstoproducepieces.
SmartzerisaB2Binteractivevideoplatformdesignedtomakevideothatisclickable,shoppableandinteractivefromlookbooks,catwalksandotherfashioncontent.Userscansimplyclickortouchitemstheyseeonthescreentorevealmoreinformationaboutproductsandaddthemtoashoppingwishlist.
Source:FungGlobalRetail&Technology
Zielisane-commerceplatformthatcreateson-demand,private-labelactivewearforlifestylebrands.Brandssignup,andZielhandlesdesign,production,inventorymanagement,onlineandofflinesales,andcustomerpayments.
Source:FungGlobalRetail&Technology
TheFungGlobalRetail&TechnologyteamlooksforwardtohostingmoreBreakfastwiththeDisruptorseventsinthenearfuture.
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May4,2017
DeborahWeinswig,ManagingDirector,FungGlobalRetail&Technologydeborahweinswig@fung1937.comUS:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
DeborahWeinswig,CPAManagingDirectorFungGlobalRetail&TechnologyNewYork:917.655.6790HongKong:852.6119.1779China:86.186.1420.3016deborahweinswig@fung1937.comJohnHarmon,CFASeniorAnalyst
HongKong:8thFloor,LiFungTower888CheungShaWanRoad,KowloonHongKongTel:85223004406London:242–246MaryleboneRoadLondon,NW16JQUnitedKingdomTel:44(0)2076168988NewYork:1359Broadway,9thFloorNewYork,NY10018Tel:6468397017
FungGlobalRetailTech.com
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