Customization in fashion-driven by self-expression and individualism has brought the everchanging creativity that was before readymade brands took off.
Louoj is the marketplace for designers, boutiques, tailors, fabric manufacturers/suppliers as well as buyers. Consumers can easily connect with bespoke clothing business owners from anywhere in the world and vice versa. Their solution leverages technology to excel in the apparel and textile industry. Talking exclusively with BW Businessworld, Bibhuti Bhushan Dash, its Co-Founder and Chief Executive Officer, Louoj. Below are the edited excerpts:
Customization is the new trend in the apparel industry what do you think about that?
First, there was popularity and availability of customization among buyers due to limited & almost non-existent affordable ready-made brands. After business plan modification by readymade brands, it become popular among buyers due to variety, less price and on-time delivery compared to customization where the buyer had to wait weeks to get his desired clothing. In readymade, the fabric was sourced near to the factory, stitched in a mass-produced factory and less labour cost helped readymade brands to give high-end clothes at affordable prices. It downgraded the customization clothing industry and it soon become a luxury item afforded only by high-class professionals.
Recently the customization in fashion-driven by self-expression and individualism has brought the everchanging creativity that was before readymade brands took off. The prices of customized clothing have been competitive and now it can be delivered to consumers in a matter of 1 to 2 days. Along with getting your unique design and a perfect fit which the readymade brands seldom bring. With technology and digitization like VR/AR design, 3D Design, virtual fitting rooms, digital clothing, AI buyer prediction, and sampling the advancement of the fashion industry towards sustainability is completed.
Fashion is shifting towards the digital route are we ready for it?
Digitization both an opportunity and a threat enables innovation at the highest level. Even in pandemic fashion brands are sustained by adapting the latest technologies available. The latest startups that are developing technology that will be less costly and easy to use are the ones to look for in the coming future. The fashion industry has to deal with deficiencies like loss of human touch in fashion design, and garment making. Digital transformation is necessary to deal with sustainability pressures that currently face the fashion industry.
How do Technology and fashion go hand in hand?
In the fashion industry to endure one needs to be cutting age. In the past, new technologies determined fashion trends, but now it is fashion that popularizes new technologies. Today, various tools and platforms, influence consumer purchase decisions. The new direction called “Fashion Tech” is now incorporated in every vertical of fashion. It’s only a matter of time when these new technologies become accessible and useful to the masses.
Since the fashion industry is growing so fast, where do you see your company in the next 3 to 4 years?
We see our company serving bespoke clothing brands to serve consumers all across the world. We are looking to onboard popular brands from Europe, North America and Asia in the coming years. Currently, we are investing hugely in R&D to develop innovative “Fashion Tech” products like AR/VR tryouts, one-click measurement etc. that has lesser demand currently but is expected to pick up in the future.
What was the idea behind launching the company?
The main idea is to serve the customized clothing segment of the apparel industry. Since there are multiple platforms for readymade clothing but there is a market demand for digital services for customized clothing. In the customized clothing segment bespoke clothing is the most difficult segment to digitize and creating solutions for bespoke clothing will enable us to cover the whole customized clothing market segment.
How do you think this concept will help businesses and consumers connect?
The main idea was to help both the businesses and buyers with our B2B2C business model where our software offers a 3D design app and bespoke clothing marketplace for both. For tailor/boutique business owners we have industry-best ERP helping them to manage internal processes of their business and track orders. Lockdowns are forcing bespoke clothing brands to consider digitizing workflow with 3D design solutions to designing remotely and there are advantages of 3D design app to augment the bespoke clothing design process for no-waste fashion design, pattern cutting, sampling and try-outs.
Source: Business World