Global fashion brands grapple with excess inventory. ASOS, for instance, had over £1.2 billion of unsold products in 2022. Mostly, these brands avoid reselling in core markets like the UK and the U.S. to prevent market cannibalization. Meanwhile, emerging markets like Africa heavily rely on secondhand clothing imports, but 30% to 40% of these items…
Category: Fashion
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Raspberry AI raises $24M from a16z to accelerate fashion design
The world of fashion is moving at a faster pace each year. Most retailers introduce new styles each season, and fast-fashion companies like Shein, H&M and Zara update their collections continuously. To keep pace with the rapid demand for new styles, brands and manufacturers have been turning to tech to accelerate their design process. Raspberry…