Artificial intelligence (AI) is the simulation of human intelligence processes by machines, especially computer systems. Specific AI applications include expert systems, natural language processing (NLP), speech recognition, and machine vision.
The utilization of AI is increasing in all fields, including textiles.
Finesse comes up with an idea to reduce textile waste using AI to predict fashion trends that would allow brands to see future trends. Thus, they can avoid unnecessary production of textiles that would not get the desired market. Finesse, a startup promising to take the guesswork and waste out of fashion, announces that it has raised .
5 million in seed and pre-seed funding.
Founder and CEO Ramin Ahmari said the tremendous waste in the fashion industry had become a poorly kept secret, with Burberry recently facing a backlash over its practice of burning unwanted products. The industry as a whole produced an estimated 13 million tons of textile waste each year. He said that Finesse is looking to change that by taking advantage of fashion trends moving out of the “hermetically sealed” world of catwalks and onto social media, where new products take off “on the backs and bodies and posts” of influencers like Kylie Jenner.
He further said, “In the simplest terms, you can think of what we do as seeing when Kylie posts a picture on Instagram and people go crazy about it … and then you see that happen not just on Kylie’s post but across Instagram, TikTok, Google Trends,” he said.
“We predict the establishing of a trend before it goes super-viral. Finesse then uses this data to design new products. Ahmari said that by taking advantage of a “speedy supply chain,” along with tools like CLO 3D-modeling software, Finesse could go from identifying a trend to having a product available for purchase in less than 25 days.”
Unlike most fashion companies, Ahmari said that Finesse does not need to employ a giant design department. However, he suggested that team members like Vice President of Product Andrea Knopf and Head of Product Development Brittany Fleck, who work in tandem with the startup’s algorithms, are “artists in their own right.
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MaC Managing Partner Marlon Nichols said, “We believe that Finesse is truly the future of fashion, from its trend prediction to sustainable supply chain and manufacturing. We hope other fashion brands can learn from Finesse’s disruption in the space, and we’re eager to see what’s next.
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