Stylumia to enter European markets
India’s actionable intelligence based fashion tool, Stylumia, announced that it is all set to enter the UK and European markets and is also finalising a US partner.
Ganesh Subramanian, former Head of New Initiatives at Myntra and Stylumia’s Founder and CEO said about the company’s plans: “While we started with the Indian market and have over 40 paid customers on an annual subscription model, we have been getting enquiries from conglomerates and SMEs in the US, Europe, Japan, the UK, China, Far East, and West Asia. We have grown 20x in a little over a year and have customers spanning all genres of brands and retailers across men, women, shoes, western, and ethnic. It is the right time to foray into the top global fashion markets.”
Moreover, Subramanian went on to say: “New York, London and Milan are the top fashion markets in the world, with close to 50 per cent of the business for fashion technology solutions accruing from these three markets. We are in the last stages of finalising a US partner.” The business also has ambitions targets and aims to target a customer base of between one and two lakh businesses over the next five to seven years.
Subramanian announced that the business has partnered with Julie Woodhead who has previously worked with House of Fraser and the Aditya Birla Group for their UK launch and with Nicola Monti who has worked with Cavalli Class and Miss Sixty for the European launch. Some of the brands that are already subscribed to the service include Biba, Myntra, and Pepe Jeans.
Stylumia is based in Bengaluru and aims to deliver latest trends to designers through actionable intelligence technology. By delivering real-time trend updates to designers, the idea is that they can create designs that will be commercially successful and increase their profit margins.
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