The article first appeared on the Fashionista.
Private (or "in-house") labels can be big moneymakers for multi-brand retailers: By selling directly to their own shoppers, they can rake in higher profit margins while keeping prices within a range they know their customers are willing to pay. Retailers can also use them to fill in gaps in their product offerings, and they have a wealth of data of about customers' preferences to pull from during the design process.
Yoox is taking the data-driven approach one step further with its first-ever private label 8 by Yoox, launched online last week. In conceptualizing the line, the Italian e-commerce platform, which otherwise sells discounted past-season luxury items, used artificial intelligence as its starting point. With its own proprietary AI tools, it combed fashion content across social media and fashion sites in key markets. It also looked at "predictive indicators" of trends that are only beginning to emerge, and analyzed data from products sold on the site, customer feedback, industry buying trends and top trend searches.
All of those insights were gathered to create a mood board for Yoox's design team to reference, and the resulting collection of "contemporary essentials" features items that "represent long term trends instead of seasonal trends at an affordable price," per a press release. The debut collection is pretty massive, comprising ready-to-wear, accessories and shoes for both men and women ranging from $29 to $979.
Read the full article on the Fashionista.