World March of Women Animal Rights Travelling with pets Impact of new technology in clothing industry The fiber and textile production and the manufacture of clothing lead to the industrialization in the developing world.
The shift from brick-and-mortar retail shopping to a world of e-commerce has forced traditional retailers to rethink business strategies and adapt to rapid changes in technology and consumer preferences.
Yet, while great focus has been placed on the disruptive impact e-commerce and other technologies have had on traditional retailing, less focus has been placed on the complementary role technology has played to streamline processes, develop more efficient systems, and modernize operations within the fashion and retailing industry.
As in other sectors, new technologies have begun to revolutionize how businesses in the fashion industry operate. Accordingly, Fashion Technology, or Fashion Tech, has become a rapidly growing and vibrant ecosystem.
XELB to learn more about how his company is using technology in their operations, the evolving role of technology in fashion and retailing, and his views on entrepreneurship.
Tell me about Xcel Brands. What does your company do? Halston, and Highline Collective. At its highest level, Xcel Brands is a solutions provider to our retail partners. In our set up, we are a virtual supply chain for our partners, and give the retailer the entire margin and work on a percentage of retail sales, keeping us aligned with the retailer.
One of our key differentiators is the speed at which we move our supply chain. In addition, technology, such as data and trend analytics, has played a significant role in our success.
Our supply chain model allows us to capitalize on that knowledge, and meet demand when it is at its peak, not when the trend starts losing steam. At our core, we are a media company that does fashion, not a fashion company that does media.
All of our brands are dynamic, they all have living authentic personalities behind them that we drive in social media. This approach has allowed us to be successful in a challenging retail environment.
What was your motivation for founding Xcel Brands? When I founded Xcel Brands inI wanted to reimagine shopping, entertainment and social media as one.
It was at this point in time that control over margins began to shift from retailers to consumers, which happened because of technology. In looking at this, I recognized that, by its nature, there was going to be a disconnect between short lead social media and long lead production cycles.
You have had a long and successful career in consumer products. In your view, what are the most significant factors currently impacting the competitive landscape of the retail industry?
As an industry, we have to be positioned to respond rapidly to customer demand.6 Technology Trends That Will Impact Fashion Industry an international franchise of Entrepreneur Media.
Fashion Industry has transitioned to becoming digital-centric. Computer vision as a. Regardless of the pace adopted, the impact of technology on fashion industry has been immense. The implications also intend to have far-reaching benefits for the fashion business.
As has unfolded, tech is expected to contribute some great wonders in the fashion realm. Already the past year has seen some great.
Dec 19, · Opinions expressed by Forbes Contributors are their own. I write about the intersection of fashion, business and technology. The fashion industry – from your department store to your luxury. P. Wang, “Chasing the Hottest IT: Effects of Information Technology Fashion on Organizations,” MIS Quarterly 34, no.
1 (March ): The study was supported in part by the National Science Foundation under grants IIS and SBE The influence of technology on the fashion industry cannot be dismissed. Fashion is being delivered to consumers on a faster time frame and low-end designers are producing reproductions of luxury collections at an alarmingly fast rate.
Regardless of the pace adopted, the impact of technology on fashion industry has been immense. The implications also intend to have far-reaching benefits for the fashion business.
As has unfolded, tech is expected to contribute some great wonders in the .