July 14, 2024


Qualified fashion technicians

China’s Zhiyi Tech raises $100M to help fashion brands predict bestsellers

2 min read


In China, livestreaming marketing is emerging as a popular way for models and influencers to arrive at people, difficult the regular e-commerce model the place end users search static shots, browse assessments and position orders. Arising from this pattern are tools that aid models better forecast what and how to sell as a result of their dwell commerce stores.

A single of the players offering these types of program is Zhiyi Tech, a 4-calendar year-outdated business primarily based out of Hangzhou, Alibaba’s yard, and operate by two Carnegie Mellon Ph.D.s specializing in synthetic intelligence. The corporation explained it a short while ago lifted near to $100 million from 3 rounds of funding led respectively by GL Ventures — Hillhouse Capital’s early-stage arm, Zoo Cash, Xianghe Cash and CE Innovation Capital.

Other buyers from the spherical included present shareholders Legend Cash and Yonghua Funds. The proceeds add to the “tens of tens of millions of pounds” Zhiyi lifted from a Series A spherical in 2018.

Zhiyi will work by scouring the web for types, which include these from Instagram influencers and fashion reveals, and turning them into actionable insight for designers, these types of as which colour, content or pattern is trending. On top of that, it analyzes attire income on e-commerce sites like Alibaba’s Taobao marketplace and Douyin, TikTok’s Chinese version, and breaks down the bestsellers. Lastly, it has an ecosystem of suppliers that suppliers can tap. In other text, Zhiyi is developing a 1-cease option for makes and influencers generating income off are living commerce. With the new funding, Zhiyi ideas to seek the services of more workers and carry out product R&D.

Zhiyi is largely serving brand names in China at the second, but the alter in the fashion industry it represents has a broader global arrive at. The achievement of world rapid fashion e-commerce upstart Shein has helped populate the strategy of “on-demand from customers fashion”: Brands design and style and manufacture outfits centered on true-time consumer sentiment and fashion tendencies instead than attempting to create a source chain that can provide. A raft of on line fashion startups, these as Cider, has been doing the job to replicate Shein’s results by leveraging massive details to forecast client actions around the world and tapping China’s rich offer chain assets.


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