farfetch

Image source: www.businessdestinations.com/

Before setting up in New York and Milan in the autumn, Decoded Fashion is heading East – on 9 July, we will be partnering with Condé Nast Japan to host our first Tokyo Summit. Bringing together the biggest names in luxury, fashion and retail technology in Japan and from the UK and the US, the day will see brands, publishers and technology start-ups presenting their case for how fashion can engage with tomorrow’s consumer in a digital world.

With founders and execs from Google, the Business of Fashion, Farfetch and AllSaints due to attend, some of the industry’s most successful storytellers will be bringing key insights to Tokyo – but what about the home-grown talent in the city? In Tokyo, where investors have been cautious to get behind start-ups, the beginnings of a retail technology scene have been slow to get up and running. But the scene has gained serious momentum in 2015, with exciting trends from the technology world colliding with the needs of retailers and consumers alike.

Here’s our rundown of the top trends coming out of Japan right now – and, if you’re local, you can book tickets to the summit here.

Social Media as E-Commerce? Line Got There First

With news of Instagram and Pinterest’s plans to make their platforms shoppable hitting the radar this month, it might surprise you to know that a popular Japanese messaging app got there first.

Big in Japan, Thailand, Taiwan and other Asian countries, Line’s initial launches were commerce-led pilots such as flash sales and a consumer-to-consumer standalone marketplace app, Line Mall. Last summer, Line Shop was launched – a standalone app that connects bricks-and-mortar and online brands with users. Earlier this year, the chat app even moved into delivering groceries in Southeast Asia, promoting various deals for the delivery of online-to-offline goods via the messaging app.

Tying the various shopping pilots together, Line Pay is the app’s payment service, allowing users to make payments via the chat app itself – spearheading the trend that companies like Facebook and Snapchat are now experimenting with.

Isetan Department Store is Embracing the Apple Watch

Alongside high-end, trendsetting stores Colette Paris and London’s Dover Street Market, Tokyo’s Isetan department store was among the first to sell the Apple Watch in April – further confirming the tech giant’s new edge when it comes to luxury strategy. Isetan has gone one step further by building a store specifically for the watch on the ground floor, nestled between Cartier and women’s high-fashion clothing.

Elsewhere in Japan, mobile carrier SoftBank will also sell the Apple Watch through its stores – but for the luxury gold editions, the trend-setting Isetan is the retail destination of choice. Catch Isetan’s president and CEO Hiroshi Onishi in conversation with Imran Ahmed (Business of Fashion) at the Tokyo Summit, where they will discuss the changing face of retail today.

M-Commerce has a Tokyo Trailblazer

New start-ups in Tokyo are beginning to disrupt the status quo on the retail scene, and one m-commerce company has recently hit the headlines for receiving the equivalent of $13.3m in series B funding.

Origami, which has attracted more than 800 retailers to its platform since launching in April 2013, pioneers an online-to-offline model that allows retailers to bridge the digital and physical spaces of their shops. The mobile app allows users to follow retailers, receive updates on new items and, ultimately, purchase products in-app or in-store.

With new investment from SoftBank Group, the app will utilise the parent company’s CouponGATE technology, allowing retailers to distribute vouchers for product vouchers or discounts via physical voucher-issuing machines. Catch founder Yoshiki C. Yasui at the Tokyo Summit.

Meet Pepper the Robot

Also making an appearance at the Tokyo Summit, Pepper the Robot is Japan’s latest robotic star – except this one can be yours for 198,00 yen, or around £1,000. Developed by Softbank, it completely sold out in under a minute when it went on sale over the weekend. Why is everyone so excited? Pepper can detect human emotions such as anger, joy and sadness – check out our 4ft-high attendee for yourself at the summit next month.

Reported by Claire Healy

Farfetch

How can retailers decode a world of customer data in today’s marketplace? This is just one of the questions that our 2015 London Summit will be asking when it hits Kings Cross on May 20-21. Targeting consumers’ needs across a multitude of channels has evidently become an urgent issue for fashion retailers in the last year, but knowing how to actively engage users through a personalized experience is easier said than done.

One attendee who will hope to clear the mist around using data for customer insights is Kelly Kowal, Global Growth Director at Farfetch.com. The high-end fashion website has increasingly stood out from the crowd for its advanced strategy in digital marketing. In a year that has seen Farfetch internationally expand into other markets, the company has continually invested in new campaigns and new data collection methods in order to fuel its growth. Just last week, Farfetch was pronounced a rare fashion ‘unicorn’, after raising $86 Million in a Series E round – valuing the company at a whopping $1 Billion.

With a marketplace model allowing users to browse globally and shop locally, the Farfetch customer can buy fashion through an aggregated basket from more than 1000 boutiques. And, with each of these boutiques using the Farfetch software module, sophisticated multi-channel merchandising is in the bag. Furthering the omnichannel experience, Farfetch bridges offline and online worlds by allowing customers who visit the bricks and mortar boutiques to get the VIP experience, receiving personal treatment and localized offers. You can even click-and-collect, as of the end of last year. It’s clear that for Farfetch, e-tailing facilitates multichannel success – but how does data play into all this? Find out from Kelly Kowal on May 20.

Want to hear more from Farfetch and other winners in ecommerce strategy? Book your spot at our London Summit now.

Reported by Claire Healy

Image: Farfetch

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“Some big news today in the world of fashion e-commerce. Farfetch, the London-based online marketplace for high end fashion retailers, is announcing a raise of $86 million. The funding vaults Farfetch into the unicorn club with a valuation of $1 billion, and it is notable for another reason: it is led by DST Global — the VC firm founded by Yuri Milner that has invested in the likes of Facebook, Twitter, Xiaomi, Alibaba, Flipkart and many more.”

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Decoded Fashion - Fashion Tech Daily - Farfetch
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“The luxury e-tailer Farfetch expands its scope with a new app called Discover. Pulling from their bank of over 300 boutiques represented on their website, the app acts as a shoppable tour guide from a fashion insider’s perspective right at your fingertips. The main feature will include city guides from the world’s most fashionable cities including London, New York, Los Angeles, Paris, Milan and Berlin. Additional cities will be added month by month.”

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Decoded Fashion - Fashion Tech Daily - Farfetch Discover
 2circle

“The e-commerce website Farfetch.com embraces the spirit of Brazil with a new project comprising 15 of the country’s finest designers.”

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Decoded Fashion - Fashion Tech Daily - Farfetch

 

 2circle

“Farfetch, an online marketplace for independent fashion boutiques, has raised $66 million led by private equity firm Vitruvian Partners, with existing investors Condé Nast International and Advent Ventures also participating in the round. New investor Richard Chen, venture partner at Chinese VC firm Ceyuan, was part of the round. The company had previously raised funding in 2012, led by Index Ventures.”

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Decoded Fashion - Fashion Tech Daily - Farfetch

 

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