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ICYMI: Farfetch’s Neves as the Bezos of fashion, DTC physical stores driving online sales

Farfetch
Farfetch

A round-up of everything you might have missed in relevant fashion, retail and tech industry news over the past week.

TOP STORIES
  • Is Farfetch founder Neves the Jeff Bezos of fashion? [Forbes]
  • ‘Shoppable billboards’: DTC retailers say physical stores are driving online sales [Digiday]
  • Amazon reportedly plans to open 3,000 cashier-less stores by 2021 [The Next Web]
  • Is renting designer fashion the future? [FT]
TECHNOLOGY
  • Walmart to put 1M workers in Oculus Go VR headsets [WWD]
  • Ikea’s think tank envisions self-driving cars as rooms on wheels [Quartzy]
  • Forget the new iPhones: Apple’s best product is now privacy [FastCompany]
  • Cryptocurrency is coming for the beauty industry [Fashionista]
  • Amazon launches Scout, a machine learning-powered visual shopping tool [TechCrunch]
  • RFID technology addresses consumer woes over out-of-stocks [WWD]
  • Six AI innovations that could change skincare and beauty [Dazed]
  • US and South Korea just performed the world’s first live 3D hologram call over 5G [IBTimes]
  • Teaching robots to predict the future [The Next Web]
SUSTAINABILITY & PURPOSE
  • The environment’s new clothes: biodegradable textiles grown from live organisms [Scientific American]
  • More than ever, our clothes are made of plastic. Just washing them can pollute the oceans [Vox]
  • Skechers delivers 15,000 pairs of shoes to children still in need in Puerto Rico [Businesswire]
  • Where Burberry waste goes now label isn’t burning clothes any more [SCMP]
  • Is certification the answer to fashion’s ethical issues? [LS:N Global]
  • New study shows that Gen Z will strengthen sustainability trend [FashionUnited]
RETAIL & E-COMMERCE
  • Amazon Storefronts is a new retail hub exclusively for US small businesses [TheVerge]
  • Container Store tracks appointments with voice tech [RetailDive]
  • Italy’s first Starbucks serves cocktails, ice cream, and a side of augmented reality [Mashable]
  • The future of airport retail is hyper-personalization [LS:N Global]
MARKETING & SOCIAL MEDIA
  • Victoria’s Secret’s Pink revamps loyalty with mobile app [RetailDive]
  • Gucci’s surprise new Instagram account truly revitalizes its beauty offering [i-D]
  • How Nordstrom reinvented its retail loyalty program [Digiday]
  • The epic ‘Game of Go’: a real-time experience showcasing Nike’s latest React technology [TheDrum]
PRODUCT
  • Bespoke tailoring in the athleisure age: how China changed Savile Row [SCMP]
  • How De Beers learned to love lab-grown diamonds [BoF]
BUSINESS
  • Walmart is borrowing luxury’s playbook to gain an edge on Amazon in fashion [Quartz]
  • Store investment pays off as Harvey Nichols profits soar [TheIndustry]

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Chanel and Farfetch team up for Store of the Future partnership

Chanel & Farfetch announce partnership
Chanel & Farfetch announce partnership

Chanel and Farfetch have signed a multiyear innovation partnership that will see the companies collaborate to develop a series of digital initiatives in-store and online.

The companies have been working together for several months on merging Farfetch’s expertise in digital innovation with Chanel’s expertise in luxury retailing to create enhanced customer experiences in this Store of the Future bid.

José Neves, founder and CEO of Farfetch, calls the company’s future vision “Augmented Retail”, in which the physical boutique experience and the advantages of online and digital competitor come together. Speaking of the Chanel partnership, he says: “It is truly an honour to be partnering with Chanel to accelerate the development of technology-driven initiatives which will ensure they remain at the forefront of retail excellence and elevate the already unparalleled level of luxury experience for its clients that Chanel is renowned for.”

The vision provides in-store experiences that are personalized to the customer with the use of data and other digital initiatives. Farfetch’s launch of its Store of the Future division in early 2017 promised to enable the “offline cookie” for retailers, by connecting customers in the physical space with data relevant to their own behaviors thanks to a universal login system. It has been working in beta with Browns East since, and is soon to launch in Thom Browne in New York also.

With this partnership, Chanel will customise their own version of the Farfetch Store of the Future operating system, the specific terms and details of which are undisclosed. The first example of it will launch in a France-based boutique later in 2018.

Bruno Pavlovsky, Chanel’s fashion president, says: “We are very enthusiastic about this Innovation Partnership and look forward to implementing the first steps of our projects together. We want to offer our clients the opportunity to further experience the brand values and to feel something which is authentic and unique to Chanel. We strongly believe that digital will never replace the feeling of being in a fitting room and trying on a Chanel piece. We are confident that Farfetch’s innovative technology will help us develop an even more outstanding customer journey by combining a great e-service offering with a genuine Chanel boutique experience.”

As part of the partnership Chanel has invested in Farfetch, joining its existing list of shareholders.