Fibre2Fashion Magazine June 2018 June 2018 | Page 38

Beat
BUSINESS OF E-COMMERCE
BRAND DEBUT
Two entrepreneurs unveil online
apparel brand ‘Enakshi’
Pic courtesy: Enakshi
What: Two young entrepreneurs launch
women’s fashion platform ‘Enakshi’
Who: Enakshi is founded by Maharsh
Shah, 20, and Namya Patel, 22
USP: The brand offers only exclusive
pieces of garments with no two pieces
alike. At Enakshi a new collection is
launched every 21 days. The brand also
ensures dispatch on the very same day.
Collection: The brand offers fusion
apparel for women created by a hand-
picked pool of designers shortlisted by
Enakshi and then further curated to suit
the brand’s style and vision.
Price Points: ₹1,500-6,000, depending
on the intricacies/detailing in the
designs, material used, etc.
Available: On enakshi.com
Maharsh Shah, Co-Founder, Enakshi
remarks: “As of now our focus is to
establish ourselves in the women’s
apparel segment in the market. We
would like to develop outfit designs to
meet the demands and the likes of a
modern woman, typically in the age
range of 18-48 years. We would also
like to provide our customer base with
a vast range of designs sourced from
a large pool of designers from around
India.”
IT
Infibeam acquires Snapdeal’s
subsidiary Unicommerce
Ahmedabad based e-commerce
company Infibeam has acquired
Unicommerce, a cloud based inventory
management company, wholly owned
by Snapdeal, for ₹120 crore. The two
38  | FIBRE 2 FASHION JUNE 2018
companies have signed a non-cash deal
and Infibeam will be issuing optional
convertible debentures (OCD) to Jasper
In fotech, which owns Snapdeal, to
cover the value of Unicommerce.
The line of business of Unicommerce
is similar to Infibeam. The acquisition
would result in growth in merchants
and revenues from Infibeam Web
Services. With the acquisition of
Unicommerce eSolutions, Infibeam
will further expand and strengthen its
e-commerce web service offerings and
capabilities, said Infibeam in a BSE
filing.
The acquisition is likely to be
completed within 3-5 months.
SIZING
My Size to introduce MySizeID app
for e-commerce
Pic courtesy: My Size
My Size, the developer and creator of
smartphone measurement applications,
plans to launch its MySizeID app in the
growing e-commerce platform market.
My Size is making a new version of its
MySizeID measurement technology
that can be seamlessly integrated into a
retailer’s online store, directly through
the e-commerce platform that the
website was built on.
Amazon scanning bodies to learn
more about sizing
Online retailer Amazon is inviting
customers into a New York office to
learn how their body shape and size
varies over a 20-week time period,
according to US media reports.
Volunteers chosen from a survey will
visit the office twice a month to allow
Amazon keep tab on their body shape
and size.
The new exercise has come up
after Amazon’s recent acquisition of
Body Labs, a computer vision start-
up. Subsequently, the company has
developed a 3D body scanning team
too.
The body scanning exercise is
expected to be used in a “wide range
of commercial applications” and is
especially likely to help in reducing
the number of returns, particularly of
clothing items.
Under 5’10 takes over Fittery
Pic courtesy: PR Newswire
Under 5’10, a company dealing
with apparel for shorter men, has
taken over Fittery, an e-commerce
fit technology company that uses
predictive analytics to match shoppers
to clothing that fits perfectly, reducing
online return rates from about 30-40
per cent to just six per cent.
The acquisition of Fittery positions
Under 5’10 to approach the specialty
sizing market in an entirely unique
way: using large data sets to accurately
determine body proportions for their
customers.
AI
DataWeave unveils counterfeit
products detection solution
Pic courtesy: DataWeave
DataWeave, a competitive intelligence
as a service provider for retailers and
consumer brands, has announced
the launch of its counterfeit products
detection solution. The new detection
solution will enable consumer brands
to discover and curb the presence of
counterfeit products on e-commerce
websites using AI-powered image and
text analytics.
DataWeave’s unique approach,
which leverages its proprietary data
aggregation platform and robust deep-
learning models, involves analysing the
catalogue images and content of millions
of products across diverse product types,
enabling e-commerce executives and
brand managers of consumer brands
to detect counterfeit products at an
accuracy of over 95 per cent.