The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The company, whose software allows fashion brands like Lululemon, Nike and Adidas to create virtual 3D renderings of designs, will use the funding to accelerate growth.
The pandemic helped accelerate adoption of digital tools in the industry and Browzwear said it plans to double the size of its business in the next two years and triple its global workforce.
The funding round marks the first time Browzwear has raised institutional financing and was led by growth equity firm Radian Capital.
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The Fashion-Tech Tools Getting a Boost As Covid-19 Takes Hold
As businesses pivot to remote working and e-commerce, specialist digital platforms catering to the fashion industry seem set to grow.
Brands are using them for design tasks, in their marketing, on their e-commerce sites and in augmented-reality experiences such as virtual try-on, with more applications still emerging.
Brands including LVMH’s Fred, TAG Heuer and Prada, whose lab-grown diamond supplier Snow speaks for the first time, have all unveiled products with man-made stones as they look to technology for new creative possibilities.
Social networks are being blamed for the worrying decline in young people’s mental health. Brands may not think about the matter much, but they’re part of the content stream that keeps them hooked.
After the bag initially proved popular with Gen-Z consumers, the brand used a mix of hard numbers and qualitative data – including “shopalongs” with young customers – to make the most of its accessory’s viral moment.