The current edition of the Farfetch funding program ‘Call for Start-ups’ went into the first round on Tuesday – the call is aimed at up-and-coming companies that have their sights set on the digitization of the fashion industry.
Farfetch described Call for Start-ups’ as “a unique opportunity for select companies to showcase their innovative solutions to Farfetch’s leading experts and stakeholders.” The contest allows participants to test their technologies and build partnerships through the Farfetch.
In 2021, Farfetch had already partnered with 30 tech start-ups to advance innovative approaches such as virtual fittings, style advice through a digital avatar and other innovations. Farfetch has even more plans for 2022: the shopping experience in the luxury sector is to be raised to the next level with the promising start-ups.
In 2022, too, the focus will be on digital fashion, Web3 topics, beauty tech, size and cut topics, as well as sustainability and social commerce. Start-ups that want to apply must be registered companies with appropriate funding, have the capacity for B2B approaches, and be able to prove that the product or service has a raison d’être. The young companies must also have already passed the MVP phase (minimum viable product) – which means that the usability of the product or service must have been tested on users.
The application period ends on March 31st. The shortlist will be selected in early April before the nominated companies can meet Farfetch Group stakeholders in the third week of April.
Farfetch’s partners include Threedium, a 3D technology company in fashion, Luxclusif, a high-end resale platform, Wishi, a digital style advice service, and Dressx, a start-up that explored the possibilities of virtual fittings. All of the companies have previously worked with Farfetch on digitization in the fashion industry.
Farfetch is an international e-commerce company that offers retailers the opportunity to sell online without having to open their own web shop on the platform of the same name. The marketplace for high-end fashion connects customers from more than 190 countries. The company was founded in 2007 by José Neves, a Portuguese entrepreneur.