Business of Fashion: 3 Technologies for the Future of Fashion
April 03 2016
Business of Fashion’s Kate Abnett shows three important technological innovations being talked about in tech circles from Silicon Valley to Shenzhen, which could shape the future of fashion. The journalist further reflects upon the relation between the fashion industry and technology, focusing on how technological advancements have increased luxury goods market throughout the years.
Kate Abnett pinpoints that new technologies - from industrial looms to e-commerce - have changed the fashion world, but oftentimes, new tech-driven innovations take too long to gain acceptance in the fashion industry rooted in change.
She took a look back at fashion entrepreneurs who saw the future before others as the earliest pioneers of e-commerce, now a strong source of luxury markets growth. The journalist explains that fashion is a fast-moving sector dominated by a trend-driven mindset, but it's open to innovation only on the superficial level.
“... New technologies can appear to take off quickly”, states Abnett in her article. “But for close observers who look beyond the buzz, their potential impact on consumer markets can often be grasped many years before, presenting companies that anticipate change with a tremendous advantage over competitors”. She refers to incredible influence of social media on the industry and the big impact of Facebook, one of the fastest-growing companies in history.
The journalist presents the three emerging technologies that have the potential to reshape in the future the way industry does business: messaging, 3D printing and virtual reality.