Typeface and Syrup are the winners of the Fashion Innovation Award 2023
Under the sponsorship of luxury brand Bally, the competition sought to uncover groundbreaking solutions that could help the company harness the power of Generative AI to increase customer experience and to support fashion supply chain optimization via AI and Machine Learning.
Lausanne, November 28, 2023 – After the ten start-ups and scale-ups pitched their solutions in two categories at the Rolex Learning Center (EPFL university) in Lausanne on the morning of November 27, Bally CDO Nathalie Sisouk presented the two winners of the 5th edition of the Fashion Innovation Award (FIA) on the following day. The two companies Typeface and Syrup convinced an impressive jury, including representatives of Bally’s top management as well as other executives from top Swiss luxury brands, such as Breitling, Hugo Boss, Richemont, Clinique La Prairie, and Timex the most. The winner of the first category, “Generative AI solutions for sales and marketing”, is Typeface from United States. The award was accepted by Salim Maherali, Chief Revenue Officer. For the “Artificial intelligence and machine learning solutions for the fashion supply chain” category, the american Syrup emerged as the winner, with their CEO & Co-Founder, James Theuerkauf receiving the prize.
Nicolas Girotto, member of the Lifestyle Tech Competence Center and CEO of Bally, says: “We live in an era of rapid change. In the fashion industry the ability to predict gives us a strategic hedge. At this year’s FIA, we had the opportunity to be in touch with young talents in the tech industry, showing incredible creativity to provide groundbreak for today and tomorrow’s challenges.“
The winning projects will have the chance to be tested at Bally and both companies are supported by two exceptional mentors: Nicolas Girotto, CEO of Bally, and Carlo Terreni, president of LTCC. The company also receives a desk at the Dagorà co-working space in Ticino for an entire year and access to the network of contacts found at LTCC.
Carlo Terreni, President of the Lifestyle Tech Competence Center and Founder of Loomish, emphasized his joy and enthusiasm for the ongoing and successful innovation partnership with Bally: “The prestigious FIA is the yearly highlight of Loomish’s fashion innovation scouting. I am particularly excited that this year we could enlarge the number of jury members, by taking on-board a vast array of leaders and exceptional personalities from renowned Swiss luxury brands, as well as private equity funds, consultancies, and journalists. With their great expertise, each in their own field, they successfully engaged in the difficult task of jointly choosing the two winners of FIA 2023. At the same time, already for the fifth time Bally has entrusted LTCC with attracting high-profile start-ups and scale-ups from around the globe that have the potential to revolutionize the world of Fashion and Luxury, which makes me very proud. I am convinced that the unique network of established companies, that is present today, is leading the way to cutting-edge co-innovation in this sector in Switzerland beyond FIA. I would like to thank Bally, the jury, as well as LTCC’s members for their continuous commitment!”
The entire jury extended their congratulations to all the finalists for their outstanding achievement in successfully navigating the entire journey leading up to the final round on the shores of Lake Geneva. The journey began with the call for start-ups engaged in B2B and B2B2C activities on July 14, attracting over 600 start-ups- and scale-ups. Entries closed on September 15, with more than 80 applications received. The selection process then narrowed down the field to 30 companies, and the announcement of the 10 finalists took place on October 25. These finalists subsequently presented their projects in front of the jury on November 27.
Not least, the FIA provided the start- and scale-ups with the opportunity to make useful contacts: with the jury members from diverse luxury brands, Breitling, Clinique La Prairie, Hugo Boss, Richemont, and Timex, LTCC members like Accenture, Microsoft, UBS,SUPSI and USI, as well as representatives from private equity funds, consultancies, and journalists, such as OLMA Capital Management, Juniper Frost, and Ringier Axel Springer AG.
Winners:
Category 1: Generative AI solutions for sales and marketing aimed at enhancing user/customer experience and engagement
Typeface www.typeface.ai
Location: Palo Alto, United States
Typeface is the generative AI platform to supercharge personalized content creation for businesses. By uniting content velocity with brand personalization and control, any enterprise can create exceptional, on-brand content faster and easier than ever before.
Category 2: Artificial intelligence and machine learning solutions for the fashion supply chain
Syrup https://syrup.tech/
Location: New York, United States
Syrup empowers fashion & and beauty with AI-driven inventory optimization. Boost margins with advanced strategies, eliminating costly demand prediction errors. Its tailored AI model enhances efficiency, selling more at full price while reducing excess inventory. Revolutionize inventory management with Syrup.
Contact information
Loomish SA – Davide Guzzetti, Associate Director – davide.guzzetti@loomish.ch
LTCC – Eleonora De Canio, Innovation Manager – e.decanio@ti-switzerland-innovation.com
About Bally
Bally is a Swiss luxury brand established in 1851, with a rich heritage in shoemaking, and a longstanding relationship to architecture, arts and the environment. Today, the brand offers unique designs across shoes, accessories and ready-to-wear, driven by a dedication to craftsmanship and a contemporary aesthetic. Bally has over 320 retail stores and 500 multi-brand points of sale spanning across 60 countries worldwide, including a global e-commerce platform serving 58 countries. The company is owned by JAB Holding Company, a privately held group focused on long term investments in companies with premium brands, attractive growth and strong cash flow dynamics. In May 2023, Bally welcomed Simone Bellotti as Creative Director.
About Lifestyle Tech Competence Center
The Lifestyle Tech Competence Center is a Swiss association that aims to support innovative companies that carry out research and development activities in the Lifestyle-Tech arena, including FoodTech, FashionTech, TravelTech, DesignTech, and Smart-living, among others. Specifically, the Association intends to foster collaboration between academic institutes and companies, encouraging the exchange of technology and knowledge. Accenture, Bally, Dagorà, Guess, Hyphen, Loomish, Microsoft, Moresi, and Swiss Universities SUPSI and USI are the founding members of the Lifestyle Tech Competence Center Association. Find out more at https://lifestyletechcompetencecenter.com/
About Loomish SA
Loomish SA is a Swiss-based investment management firm specialized in Lifestyle-Tech, with a focus on the Food, Fashion, Travel, and Design industries. We are committed to accelerating value creation for all the players within the lifestyle ecosystem: investors, digital start-ups, and established corporations looking for innovative solutions. Strategically located in Ticino, between the dynamic financial centre of Zurich and the global lifestyle hub Milan, Loomish is perfectly positioned to link the best of both worlds. We deliver expert guidance and facilitate investments in the Lifestyle-Tech sector, focusing primarily on the disruptive technologies offered by European medium-sized start-ups and scale-ups. Find out more on LinkedIn @Loomish_SA and http://www.loomish.ch.