LONDON — Farfetch is taking its start-up accelerator, Dream Assembly, digital for the fourth cohort of its program, which will be supporting eight companies “focused on shaping the future of fashion and retail.”
The start-ups involved will receive the same support and educational or networking opportunities as in previous iterations of the program, however the seven-week schedule of events, which will include a series of masterclasses, one-on-one sessions and investor introductions, will transition entirely online for the first time, in response to the COVID-19 crisis.
The companies, chosen from 155 applications from around the world, are all tech-focused and are mostly working to provide digital solutions for both physical and online retailers to improve the customer journey, inventory planning or the way products are presented online.
“These companies all have business models focused on the digitization of commerce across various industries, which will be more relevant than ever now, and for a post-COVID-19 world,” said David Grunwald, VP Innovation at Farfetch.
The participating start-ups include the likes of Cerebra, a U.S.-based firm specializing in data analytics to inform companies’ sales, merchandising and inventory-planning decisions; Favourup, which helps brands create “location-driven user generated content;” IV Apparel, which connects the fashion and gaming industries; and M-XR which used 3-D technology to digitize product catalogues automatically.
Other participants include Newlife, which is working to build a network of cultural innovators online; Stylescript, which creates more in-depth customer profiles for retailers to match them with the right products; Supply Compass, which can digitize supply chains and make sustainable sourcing more efficient for brands and manufacturers; and Whoqip, a German start-up that can help retailers reach their customers across various online channels.
Burberry is returning as Farfetch’s partner for the program for the fourth time.