What are you wearing in your last instagram picture? Fashion tech startup Heuritech has launched an artificial intelligence-driven system that analyzes millions of social media images to predict fashion trends.
Jean Baptiste Su | For Forbes
At the ShopTalk conference in Las Vegas this week, billed as the world’s largest conference for retail and e-commerce innovation, fashion tech startup Heuritech launched the world’s first artificial intelligence (AI) service that can predict fashion trends based on the analysis of millions of images shared every day on social media.
” Social media is disrupting the fashion industry , shifting the power structure that shapes and influences trends, and therefore sales, away from a few glossy magazines to millions of consumers,” said Tony Pinville, CEO of Heuritech. “By capturing and analyzing these new voices in real-time our AI technology allows brands to predict fashion trends months before they happen, adapt their designs and better plan their merchandise mix.”
Luxury fashion houses Louis Vuitton and Christian Dior are current customers , using the software-as-a-service platform’s strategic “moodboards” for their product development and merchandise planning.
Heuritech’s visual technology is capable of recognizing fashion brands in a picture
“Not only can we see our products in these images, but we can identify trends, with people posting, and understand more about how our products are appearing in the wild and how people are using them to build their own identities,” says Ian Rogers, the chief digital officer of LVMH.
The 22-employee startup, which half are PhDs in AI, raised a seed investment of 1.1 million euros (about $1.3 million) in November 2016 and plans its next round of funding by the end of this year to expand outside of its home market of France, and open offices in the U.S. and Asia.
“We’ve reached product-market fit and successfully signed 2 of the biggest luxury fashion house on the planet,” said Charlotte Fanneau, vice-president product, and marketing at Heuritech. “Now, it’s time to scale fast and accelerate our growth globally.”