Perplexity launched an AI shopping assistant... but they say they're different 💁🏻♀️
All Things Fashion Tech Newsroom: From AI-powered shopping app, Perplexity, launching to fundraising & acquisitions. Read more.
Truss secures investment from FIGR Ventures
By Danielle Wightman-Stone of Fashion United
UK-based resale fashion tech start-up Truss, which is looking to revolutionise the fashion industry by powering resale with AI-enabled data infrastructure, has secured 300,000 pounds in investment from FIGR Ventures.
In a statement, Truss said with the new 300,000-pound capital it has also secured critical match-funding to activate a 1.1 million pound Innovate UK grant. This funding supports a collaborative project with the University of Warwick, Depop and Selfridges to develop a bespoke algorithm to instantly recognise a fashion item from Truss’ database using a single image.
Additionally, the investment will be used to enhance Truss’ tech capabilities, expand and enrich the product catalogue, grow the team and develop further partnerships.
Officially launched in 2022, Truss aims to tackle one of the resale sector’s biggest challenges, product transparency, by creating millions of product profiles which contain detailed information about any product to streamline fashion resale. Using only a photo, businesses can tap into this information to list products efficiently, enhance searchability and improve conversion rates.
Perplexity launches an AI-powered shopping assistant - and it even gets you free shipping
By Sabrina Ortiz of ZD Net
AI search engines combine the conversational capabilities of chatbots with the web, creating a new, optimized search experience. Despite their proficiency in research, AI search engines fall short in certain areas, such as online shopping. However, Perplexity hopes to change that with this new feature.
Perplexity began rolling out what the company is calling a "first-of-its-kind AI commerce experience" in which users can research products via conversational prompts and image inputs, checkout with one click, and even get free shipping on purchases.
The biggest difference between a traditional shopping search experience and Perplexity's shopping assistant is that when you ask a shopping-related question, you get comparisons in everyday language that feature a variety of reviews, "objective" answers, and product cards with the most relevant specs and items, according to the company.
The items featured on the product cards are not sponsored but are handpicked by AI to match the search prompt. Users also have the option of Snap to Shop, which allows users to take a photo of an item and ask Perplexity to visually find relevant products that match, similar to Google Lens.
Data Intelligence Firm Luxurynsight Acquires AI Trend Forecaster Heuritech
By Joelle Diderich of WWD
Luxurynsight has acquired fellow French data analysis firm Heuritech as it works to integrate more artificial intelligence capabilities into its predictive tools for luxury, fashion and beauty brands.
Heuritech, which uses AI to help the fashion industry detect trends online and assist e-tailers in pushing the correct product on their sites, won the inaugural Innovation Award offered by LVMH Moët Hennessy Louis Vuitton in 2017 and now works with clients including Nike, Prada and Decathlon.
“The addition of Heuritech AI-powered product recognition and trend forecasting strengthens our ability to provide a full 360-degree view of market dynamics and consumer behaviors, enhancing our clients’ competitive edge,” Jonathan Siboni, chief executive officer and founder of Luxurynsight, said in a statement.
Over the past few years, fashion and beauty have raised the level of their tech experience, jumping on trends, testing new tech and implementing new learnings. According to McKinsey, generative AI will add from $150 billion to $275 billion to fashion’s operating profits by 2030, with marketing being one of the top drivers.
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Sportswear giant PUMA Group have signed a multi-year letter of intent to source sustainable wool based fibre from a new production plant which is being developed by Finnish textile innovator SPINNOVA® and brazilian cellulosic pulp giant Suzano.
ANDRITZ, a manufacturing company, partnered with Circ® to build a landmark textile recycling plant
eBay and Klarna have announced the expansion of their partnership to key European markets. Expanding from a launch in Germany, eBay is offering Klarna (including Pay in 3 and Pay in 30 Days) to people in the UK, Austria, France, Italy, the Netherlands and Spain, with more markets coming soon.
eBay has also launched a trade-in option in the UK to give customers the opportunity to give new life to their old tech while making extra money. Popular devices across eight different categories are included in the new trade-in service, including phones, tablets, smartwatches and consoles with no fee.
