Stylesight, a company that specializes in trend forecasting and product development tools for professionals in the fashion and style industries, announced Wednesday that it has completed its series A round of funding with $16 million from Fidelity Ventures.
According to Fidelity Ventures, Stylesight “addresses a huge need in the fashion market and could shift the way apparel manufacturers, brands, and retailers do business.” With the help of Stylesight, designers, manufacturers, and retailers will have access to the latest fashion data and images, which can then be used in advertising campaigns, design plans, and merchandise displays.
Stylesight will use the financing to expand its research and development efforts and provide more content for its users.
They might want to drop some of that money on a new logo before Google sues them for using the Picasa logo.
I was actually thinking “Aperture Science” when I saw that.
16 million to predict
only in america
What does “access to the latest fashion data and images” mean? Surveys? Sales numbers? I don’t quite understand exactly what this company does.
Picasa has 5 of those little guys, this logo here has 6. Judgy Wudgy was an ImageCo?
I think it has something to do with inspiring designers. sounds cool.
I like the idea of predicting fashion trends but $16 million does sound like a lot of money because when you visit sites like Perez Hilton or Popsugar you just know what the next fashion trend is by looking at the photos of celebs. But ok, if they know how to add data in real time and before the clothes hit the stores then they have a chance of becoming the bloomberg of the fashion industry and if $16 million is what it takes to get them there, then more power to them.
They need to learn how to measure the demand before it hits the stores or else they will come late to the party. To know the future you need to watch the celebs or you need to know what happened in the past because in the fashion industry trends come back.
Photos of fashion shows is what they need, imho.
doesn’t seem to me that a company like Fidelity would invest in a forecasting company that didn’t have the brains to publish runway photos. i bet they’re there.
Doesn’t WGSN do this kin dof thing? Or am I missing something? I can understand why they got $16m if they are loking to compete. WGSN was bought by emap. Both companies I wouldn’t rate as particulalrly technically competent I used to work for a startup that was working with WGSN the joint ventue eventually fell through (the startups fault not WGSN).
The subscriptions are pretty expensive and everybody in the industry (that can afford one) has an account. Universities have accounts for all their students as well at fashion schools.
S
It will be interesting how well this company does. Fashion Forecasting is big process that is compiled years and seasons in advanced. Being a fashion blogger I’m interested in this! Fashion Forecasting accounts are pricey but only because big companies do spend a lot to help create fashion trends! Thanks Tech Crunch!