New York Fashion Tech Lab, the accelerator for start-ups in the fashion industry, is back for another round with the new program beginning today.The accelerator is a collaborative effort between major fashion retailers and serial technology entrepreneurs. The tech lab is different from other accelerators that are mostly funded by venture-capital firms looking to get a return on their investment in that this one is funded mostly by retailers. While there’s some VC backing, such as Springboard Enterprises and the Partnership Fund for New York City, funding from within the industry allows it to learn about the new tech ideas and platforms the start-ups are working on, and allows the sponsors to work as mentors to help further develop the ideas they are interested in.Several first-year sponsor firms are returning again — Alex and Ani, Kate Spade & Co., and Macy’s — and will join new sponsor participants that include Bloomingdale’s, Fossil Group Inc. and VF Corp. A new category focus this year is Fit Tech and Wearables.The new class of participants, selected by the sponsoring firms, are Cloth; Customer Engaged Pricing by Nyopoly; InSparq; Liquid Assets; SKUIQ, Sundar and Switch Embassy. Some of the firms are involved in some form of data analytics.According to Kay Koplovitz, NYFT Lab cochair, Kate Spade board member and Springboard chairman, the group has fine-tuned the program after last year’s learnings, including adding a month to the program and consolidating subject matters of the workshops.Maria Gotsch, NYFT Lab’s cochair, said that it is still in touch with last year’s graduates. “Most are substantive discussions with retailers they met with last year, with half raising seed funding mostly from individuals than venture funds,” she said. Gotsch added that it will likely take about 12 to 18 months from when the program ends to forward those discussions to the point where actual revenue contracts are signed with the start-ups. “The [accelerator] compresses the time it takes to get the right discussion going,” she noted.This year’s Demo Day is planned for June 12.
To celebrate Pride 2018, @themarcjacobs released the #GratefulNotHateful campaign, a social media initiative aimed at extending Pride beyond the parade. Inspired by Jacobs’ everyday outlook, the campaign features Jacobs along with a group of models and social media stars who are members and supporters of the LGBT community, all seen wearing @marcbeauty’s Highliner Gel Eye Crayons in colors of the rainbow. Head to our Instagram stories to see close-ups of the liner. #wwdbeauty
Virgil Abloh’s dad Nee and Don Crawley, cofounder of RSVP Gallery, were some of the hometown crew at the Chicago-born designer’s debut show for Louis Vuitton. (📸: @jdiderich ) #wwdmens #louisvuitton #virgilabloh
About last night: @marycharteris and @adwoaaboah hit up Hyde Park for the Serpentine Galleries’ annual summer party held in partnership with @chanelofficial. Head to WWD.com to see more photos. #wwdfashion
“This is Paris, my first show. I’m all about democracy. If some kid shows up, flew from New Jersey to just be around, let’s get him a seat.” — @virgilabloh tells WWD’s @jdiderich ahead of his first show for @louisvuitton men’s. (📸: @alfredo_piola ) #wwdmens #virgilabloh #louisvuitton
“Kate Spade was a true fashion icon who brought joy to the lives of women around the world, and inspired women to live life to the fullest. We are dedicated to carrying on her legacy,” said Anna Bakst, brand president and chief executive officer of @katespadeny. The Kate Spade Foundation announced that it will be donating $1 million to suicide prevention and mental health awareness in tribute to the recent death of Kate Spade. Read more on WWD.com. #wwdnews (📷: @chinseephoto)
A first look at @virgilabloh’s sneakers for @louisvuitton. Abloh spoke to WWD about his debut collection for Louis Vuitton, creating @kendalljenner’s #metgala outfit and redefining the heritage brand. Read the full story on WWD.com. #wwdfashion 📷: @alfredo_piola)
The world’s largest producer of denim @iskodenim is sharing the strategy behind its product development process. Read our full interview with ISKO’s product development manager Baris Ozden on the company’s extensive research practices, upcoming denim trends and the latest material innovations on WWD.com. #iskodenim