Here are 8 startups from this year's from PI Apparel, an event designed to explore the challenges and technologies disrupting the fashion, apparel and footwear industries.
ShareCloth announces the start of commercial testing of its On-demand apparel retail and manufacturing service.
At an invitation-only event held in Soho, the company’s CEO spoke about this model’s enormous potential with the journalists, business partners and fashion retail reps.
With the help of this solution from ShareCloth, apparel retail will be able to optimize its stocks, offer the clients mass customization and demonstrate much greater flexibility in general.
The problem of stocks and backlogs is proving to be an enormous challenge for the fashion industry. H&M alone declares that its backlog of unsold garments is worth $4 bln. And this is not just a business issue, it is also a question of sustainability and environmental risks.
Each year, global fashion industry produces 150 bln new items. Of this amount, at least 20% fail to sell, and at least the same number of garments end up in the landfills unworn.
At the same time, customers all over the world seek a more personalized approach, while mass production and fast fashion become outdated even as we speak.
And we are far from the only ones who understand this. Even the market’s most conservative players, the garment manufacturers, support the innovative business model offered by ShareCloth, saying:
“We realize that this is the future”
This spring, ShareCloth has successfully tested the on-demand model, and this summer will launch the first commercial integrations with NYC-based retail and apparel manufacturers.