Fashion tech retailers and brands know that buying the products at the correct price and time is crucial to staying on top of the market. EDITED has created technology to help brands and retailers navigate this–and some popular brands are taking note. We spoke with Julia Fowler, EDITED’s co-founder, to take a deeper look at this popular company.
EDITED is a retail technology company that helps brands and retailers have the right product, at the right price, at the right time. With our retail analytics platform, users can access real-time market data about the products and commercial performance of those products retailing online anywhere in the world. Our data primarily focuses on product assortment, pricing and garment performance, alongside consumer sentiment and visual merchandising.
What was your inspiration behind EDITED?
The idea came from what I felt I needed professionally as a fashion designer. I noticed that my colleagues and I were lacking the information we needed to do our jobs properly. Like most, we had internal data on the performance of previous seasons’ products and access to inspirational trend-books but no understanding of the opportunities we’d missed or concrete data on how we could improve our product assortment. Designers, retail buyers or merchandisers have the job to produce products that their customer want to buy in the right quantities, sizes and price points. Every time they see a product on discount, it’s because the wrong decisions were made.This leads to a lot of wastage in the industry. I wanted to fix that problem!
What has been the hardest obstacle for you in starting EDITED? What has been your favorite part?
The hardest thing was finding exactly the right people. We absolutely do not compromise on people. We’ve only been able to attract and keep the team we have because they know we won’t compromise. On top of that, the kind of character, passion, skills and ambition we look for in people are rare. So it’s been a marathon to build a team of our caliber. I know a lot of founders say that, but we’ve been lucky enough to build the best team any of us has individually worked with.
My favorite part has been how that team has grown, emerged and become fiercely loyal to the company, to each other and to our values. That’s also been the most surprising part. I’m proud of it, of course, but I’m also thankful to all of them.
What value does EDITED have that makes it stand out against other players in the space?
We’re the market leader in features, data, customers and capabilities. Moreover, we give our clients full market visibility anywhere in the world. And how we do that doesn’t just mean offering more raw data about the apparel retail industry – though we do have over 280 million SKUs at 90,000 brands worldwide. Our value goes a step further than just bulk, or ‘big’ data and that relates to the context we’re able to give our data. It’s more than just saying to our clients, ‘right, we’ve got 77 billion data points here and we’re adding millions more every day, have fun.’ We process and contextualize every bit of it, so that users can quickly look at it and understand what it’s showing them.
Tell us about your team at EDITED.
We have world class teams of engineers, developers and data scientists pulled out of places like post-doctorate level academia and the aeronautical industry coming together to do things with computer learning and data science that just haven’t been done before, and it works.
The other half of our staff is made up of people that came to us directly from the apparel retail industry, from places like Net-a-Porter, Burberry, Macy’s and Target. They’re here to make sure our product is exactly what our clients need it to be. Having the best possible people from both ends of the spectrum coming together and working together to create EDITED is one thing that keeps us ahead of the pack.
Recently you rebranded EDITED, from EDITD. Tell us more about that… and also, why the polar bear?
We’re expanding really quickly and have an increasing number of customers outside English-speaking countries, like Russia, Italy and Germany. It made sense to simplify our name to something that is easy to say, spell and understand wherever you are.
The idea for the polar bear came from us asking ourselves, ‘What’s the toughest animal on the planet?’ It is one of the few animals capable of surviving in the harshest environment. It reminds us how tough getting it right in retail can be. Retail is tough, but polar bears are tougher. Also, they’re pretty cute. [Editor’s note: Yes. Yes they are.]
What can we expect from EDITED in the future?
We release new features every couple of weeks, so you can expect a lot more features, tools and data. We’ve just released Product Finder, which allows our users to make super complicated queries just as easily as if they’re searching on Google. We have even bigger things coming soon.
In addition, we’re also increasing our human presence in the world’s fashion capitals. We’ve recently opened a permanent office in New York City so we’re in a better position to serve our North American customers. We’re looking to double our team by summer 2016, so we’re busy interviewing and hiring for tech and fashion roles at the moment.
What are your favorite brands or styles of the moment?
I would definitely say athleisure, partly because we’ve spent a lot of time in the last few months working with journalists to get them data for trend stories surrounding it and partly because I have a (modest) sneaker collection. If you’d like to see some of the data we’ve got on the trend, you can get it here.
Check out more about EDITED by going to their website here and watch the video below.
Third Wave Fashion has been your fashion tech think tank since 2011. We publish the first ever printed fashion tech magazine, Third Wave. Follow us on Twitter or subscribe to our newsletter to stay on top of the latest in fashion tech + wearables. You look nice today!