You might be familiar with different efforts surrounding the fashion industry to change and shake up this market. We have learned that the fashion industry needs more people involved with innovation and technology to bring up matters such as entrepreneurship, opportunity and inclusion.
That is why Fashionnovation and FCJ Venture Builder have started a partnership to create Fashinnovation Ventures: The venture builder that will use fashion-tech solutions to solve the main problems of the fashion industry.
It is important to notice how startups have become an ascending business worldwide. Who would have though that even the fashion industry – that once focused on luxury and high couture – would open doors to all kinds of technology? Yes, but it is undeniable that this reality has come to stay. For instance, an English fashion tech brand has secured £300,000 in funding for online video creation.
Do you believe that one day your business can be the one changing this industry and want to master entrepreneurship to make it grow? Keep reading to learn more about perspectives and solutions.
IMPACTING THE FASHION INDUSTRY
Bringing new angles to an industry that is so long-time structured, such as the fashion industry, is not an easy job. For this reason, Fashinnovation Ventures is aiming to use strategies that are relevant to the market, and, at the same time, that highlight the power of startups. The purpose is to connect innovation, technology and entrepreneurship with the fashion industry.
To do so, Fashinnovation Ventures will select startups in the market that solve the industry’s most pressing problems. And it will provide market knowledge, opportunities, human capital and access to venture capital funds. Also, it will assist in structuring administrative, sales, and support department areas, which are crucial for venture building success.
According to a report done by Money Tree, there was an investment of $130 billion dollars in startups in 2020. This kind of number shows that smaller businesses are on the rise and that the fashion industry is opening up space for different approaches.
It is interesting to think that fashion, for a very long time, has mostly been about high fashion and luxury couture. However, now, it is being reinvented the way to interact with both the supply chain and the client’s demands.
GLOBAL FASHION MARKET SCENARIOS
The year 2022 is a time of good hope for the fashion industry, according to “The State of Fashion” study, by McKinsey and BoF. After months of a global changing pandemic, the fashion market recovery has been optimistic, but under circumstances requiring a lot of innovation and technology to update this segment.
The study points out that the main challenges for the upcoming years are related to the supply chain and uneven consumer demand globally. So, solutions related to digitalization, engagement and sustainability are the main pillars to keep global fashion on track and bring opportunities to new or unseen players in this market.
Bringing new tech solutions to the fashion industry is not only about making it “cool” or trendy. It is actually about making it more updated to the overall demands of the new era we are living. Just as one example, consumers are much more interested in purchasing in companies that are somehow connected to social matters, such as sustainability. A survey by PwC showed that 52% of C-Levels believe that customers needs and behaviors are demanding sustainable products.
That is why it is time for entrepreneurs who operate within the fashion industry and develop innovative solutions for this market to be given proper opportunities and guidance towards their main goals. The business should be clear about the upcoming demands and match it with their company’s identity and target. That kind of guidance is what Fashinnovation Ventures is aiming to do.
FASHION TECH IS THE FUTURE
It is not so new that technology has been taking part in every extent of our reality. So, of course, it would not be different for the fashion industry. Fashion and technology can create wonders, both for the artists involved in a collection and for consumers always looking for new ways to express themselves.
When those two areas come together, the reach is vaster than it has already been. In the past months, we have seen brands making clothes out of pixels, runaway shows becoming virtual, nanotech fabrics in the supply chain and much more. Besides being eye-catching and mind-blowing, innovation is also important for more sustainable consumption and a more inclusive future.
That is why it is necessary to map out the market pains and the trends that are about to come. Now, it is clearer to see that the fashion market segment must come together with companies and startups that are developing services and products toward the inevitable: The fashion-tech approach.
FASHINNOVATION VENTURES: JOINING FORCES TO REACH NEW HEIGHTS
This partnership proves to become a true change for this industry. And we are not saving efforts to make it happen. Fashionnovation, the biggest innovation platform in the fashion industry that connects entrepreneurs worldwide, and FCJ Venture Builder, a leading global venture builder that creates custom innovation programs for most types of institutions and companies, are together to build Fashinnovation Ventures.
The company was first launched in Brazil and then officially launched worldwide in August. The release live counted with the participation of the co-founders of Fashinnovation, Marcelo Guimaraes e Jordana Guimaraes, and the founder of FCJ Venture Builder, Paulo Justino. They shared all the needed information for startups interested in taking part in this project and jump into an innovative future. You can check the live here!
As a sum up, you can check out the official website of Fashinnovation Ventures and register your startup to get in touch with us. Simply put, if you own a fashion tech startup and are willing to transform the fashion industry, you can count with us to grow your business. Register now!
Like this article? Then you must read this one: SHOULD BUSINESSES PRACTICE SOCIAL RESPONSIBILITY?
