New startup addresses the biggest challenge of the fashion industry
Newlife.ai is a new social media app that will help the fashion industry avoid huge financial losses
PRAGUE, Oct. 16, 2019 /PRNewswire-PRWeb/ -- Each year, fashion houses take more than $200 billion in losses on unsold inventory because of a lack of consumer interest. It's an economic loss that impacts the planet and could have been avoided if we could predict what design consumers want.
One startup founded by trend-setter Preston Chaunsumlit (ex-VFILES) and digital pioneer Vector Newman, is dedicated itself to finding a solution.
Newlife.ai is a new social media app focusing on matching the needs of the consumer with fashion brands to produce clothes and products that are highly desirable.
More than twenty thousand designers have already adopted the app which has been featured in specialized lifestyle magazines such as DAZED, VICE media, HungerTV and PAPER magazine.
The neural network called Nu'vi records millions of taste outputs from a community of trendsetters and design-oriented users from more than 80 countries and uses machine learning algorithms to understand suggest, refine aesthetics trends.
"The goal of the Newlife app is two-fold," said Ana Agee, spokesperson for the app, "one, it is to refocus the fashion industry on design rather than seasonal obsolescence, and two, to replace the advertising and influencer business with a dynamic where data is not used to target people with ads, but rather produce the design they desire and let them find the products through peer-recommendations"
Key features:
- users curate aesthetics by interacting with contents, pressing their screen proportionally to how much they like the design
- users are rewarded for their data and taste inputs
- brands can access a neural network through an admin, where they can navigate data and receive design recommendations
- soon, small designers will be able to offer pre-order on prototypes
- the app has no ads and respects users privacy by aggregating inputs anonymously
Who is using the app?
- art directors
- fashion design studios
- graphic designers
- digital artists
- architects
- art students
- influencers
- established artists
- their audience
The smaller, starting out and undiscovered fashion brands are the ones who stand the most to gain from using the app. The data generated by the app is clear: It is the perfect way to generate the next season's fashion line and have people want to own pieces.
"This is like knowing the lottery result in advance," said Agee, "knowing what designs are desirable will empower brands not only in fashion but all industries that need desirable design and aesthetics."
If newlife.ai becomes the "Google of design" all their members will benefit from an unfair competitive advantage, driving the industry towards a more optimized inventory alignment, enhancing the fashion industry economically and ecologically.
On top of the market research and design preference predictions, the NEWLIFE.AI offers a new paradigm where creativity doesn't need to materialize in order to produce economic value. A simple participation to the dataset and contents allows creators across the world to enter the economy of aesthetics and receive royalties for their creativity, like for music streaming platforms.
The startup has so far declined venture capital funding offers, in order to keep its independence and neutrality, and has recently released publicly all curation inputs, allowing third party data-scientists to play with the data and produce their own prediction algorithms.
"Our startup is not a fancy tech company throwing buzzwords to pump its valuation. We are creating a movement with a genuine community of artists, curators, designers and technologists from each continent working night and day to produce outcomes out of words that have been said too many times and never embraced with concrete action," she added.
The app is invite-only at this point, to ensure the users who register know what the app is about and our dataset keeps a focus on design trends.
Learn more about the economic model and technology at http://info.newlife.ai/release
SOURCE Newlife.ai
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