Fashion startups New York
Some of America's leading names in fashion aren't just thinking about what's in season, they also have an eye toward the future, CBS News correspondent Vinita Nair reports.
New York City is arguably the fashion capital of the world, and the brains behind a new mentorship program would like to see it become the fashion tech capital of the world, as well, fostering a new generation of retail-focused startups.
Jared Schiffman, the founder of Perch technology, was creating interactive installations for museums. Then he realized his technology could be used to sell products. His company adds interactive displays to retail items; when you pick up an item, you can click through an interface to see available colors, sizes and reviews.
Products paired with Perch technology
Perch
"Everything you see on the table is actually created by this technology that lives above the table. We project down onto the table, and that's how we create the imagery..." Schiffman said. "If you're holding a product, actually you're a lot more likely to buy it."
Perch is one of eight companies hand-picked for the New York Fashion Tech Lab, a 12-week program in which tech startups are paired with retail giants such as Macy's, Kate Spade, J.Crew and Ralph Lauren. With half of all new businesses failing after five years, the non-profit lab is designed to help the startups beat the odds.
The Partnership Fund for New York City and Springboard Enterprises run the program.
"A lot of people have good ideas, a lot of people start companies, a lot of them can't get to the next level - and it's not the money, usually - it's really having the customer base, having proof of concept, having validation, " Springboard's Kay Koplovitz said.
Inside the fashion tech startup
CBS News
The tech companies were selected based on the strength of their ideas for transforming retail.Mary Beech, the chief marketing officer at Kate Spade, says the lab is like a boot camp where major brands can teach startups how to market their products.
"Attention spans are short, " Beech said. "We need them to get to the point of their pitch, and quickly. They've been living in this bubble of developing their app, their solution, and they need to come to me and explain how it's going to impact my business."
Amanda Curtis runs one of the other companies featured at the lab. She founded her tech startup, called Nineteenth Amendment, after her clothing line failed. While companies were interested in her designs, they wouldn't buy them because she had no past record of sales.
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Q&A
Where is New York fashion week?
NEW YORKshows during fashion week are spread out throughout the city, but many of the most famous fashion houses show in the tents at Bryant Park.A ton of designers are helping with the runway and the most delicate gowns and accesories. You will see those designers having lunch at local places and the brave ones at the most expensive.
The couture and luxury collections are shown at the Waldorf Astoria under the banner Couture Fashion Week
What is better for a tech startup targeting the fashion editorial/designer market; relocating to San Francisco or New York? Why? - Quora
This is pretty simple; NY. Your customers and your target are in NY. There becomes a point where saving money in having face to face meetings actually matters. The time zone makes it easier to do
