Apps aid fashionistas in tracking down desired clothing, shoes

Apps aid fashionistas in tracking down desired clothing, shoes
Mon, Mar 17 2014
By Natasha Baker
TORONTO (Reuters) – Fashionistas envious of clothing, shoes and accessories worn by strangers or seen on websites can turn to new apps for hassle-free shopping to find, and buy or rent, similar items.

Like the music app Shazam, which identifies songs based on sound clips, new fashion apps use photos and image recognition technology to find similar clothing.
“People see items they like on the street but can’t really go up to the person wearing them and ask where they got them,” said Daniela Cecilio, the chief executive of London-based startup Asap54.
“Or they might see items they like on Instagram, Tumblr, Facebook or Twitter, but can’t really click through to buy them,” she added, referring to the social media websites.
With the Asap54 app for iPhone, which was launched last month, users take a photo of an item, or upload an existing one, and describe what it is to help the app identify it. The app recommends something similar from more than 150 retail partners across the United State, Europe and other countries.
The Style Eyes app for iPhone and Android also uses a photo to find the desired or a similar item, which can be purchased from its catalog of 600 retailers in Britain and 300 in the United States.
Mark Elfenbein, chief digital officer of Toronto-based start-up company Slyce, said its image recognition technology integrates with retail brands so shoppers can find things by taking a photo with their iPhone or scanning an image from their desktop.
“The way brands are trying to communicate with customers is changing. Historically, they would lure customers to their stores or websites, but now we’re seeing that brands want to create transactions in other places too,” Elfenbein said.
The technology recognizes information such as how far apart buttons are, and fabric and stitching to help power visual searches.
But image recognition is still inexact and depends on the quality of the photo and other factors, such as lighting. To overcome the drawbacks Elfenbein said, Slyce uses a mix of technology and crowdsourcing to improve its search results.
Other apps making shopping easier include Pounce for Ios, created by Tel Aviv-based company BuyCode Inc. It allows consumers to buy items directly from retail advertisements from stores such as Lord & Taylor and office supply company Staples, Inc by hovering their smartphone camera over an image.
With the eBay Fashion iPhone app users in the United States and Britain can upload an image to find similar items available for sale on eBay.
For consumers more interested in renting than buying, Rent the Runway’s iPhone app uses a photo of an item seen in a store to find something similar that customers can rent instead.

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Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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