- Utilizing AI and big data technology to grasp market
conditions and patterns for predicting future trends in rapidly
changing market conditions (technological prowess)
- Cutting-edge digital technologies such as the '3D virtual
studio' propel design advancement to enrich customer
experience
SEOUL,
South Korea, June 20,
2024 /PRNewswire/ -- South Korean fashion
company Shinwon Corporation (CEO: JJ Park) is actively
utilizing AI and big data technology from the trend research stage
to capture rapidly changing trends in the fashion industry and meet
customer needs.
Global fashion industry experiences constant change and
evolution, leading to dynamic growth. Consequently, it has become
extremely important for fashion brands and retailers to quickly
respond to the changing market by predicting future trends through
extensive data analysis, and incorporating these trends into
product planning and production.
Amid this trend, the global apparel fashion company Shinwon is
receiving high acclaim in overseas markets due to its use of AI and
big data technology. Shinwon has established high-quality
production capabilities for knitwear, sweaters, and waders at its
six overseas production subsidiaries in such countries as
Guatemala, Nicaragua, and Vietnam. It is expanding its presence in the
global market by receiving positive feedback from global buyers
like Patagonia, Columbia, Gap, Target, and Walmart.
Shinwon comprehensively utilizes various methods, such as online
market sales data analysis, trend analysis, and social media
analysis, to understand market conditions and patterns. By
analyzing actual sales data by market and category, the company
identifies preferred colors and designs. It provides buyers with a
solution that predicts future trends by integrating machine
learning and deep learning technologies.
In particular, Shinwon's strength lies in its multifaceted data
analysis capabilities using AI, which include analyzing sales
status, inventory trends, retail price trends, colors, and designs.
In 2023, 20% of their market intelligence (MI) data was built using
AI data analysis, and they plan to increase this proportion further
this year. By utilizing accumulated data and AI analysis results,
Shinwon aims to help buyers better understand market trends and
thus makes decisions based on a large amount of information before
product supply.
Additionally, Shinwon is pursuing design innovation by
introducing advanced digital technologies such as 2D and 3D
styling, and VR stores. In the 3D virtual studio, graphics can be
applied to virtual mannequins in advance to check how designs will
be implemented in the end. The studio also features interactive
functions like 360-degree zoom-in and zoom-out, allowing for a
vivid experience of the design implementation effects. By
implementing colors and patterns that closely resemble the real
ones, Shinwon has significantly enhanced customer experience
through various fitting scenarios applied to the products.
In practice, when Shinwon presented the design for a
private brand (PB) women's line product for a retailer client, the
company provided visual merchandising (VMD) using 3D virtual
avatars suitable for all sizes and pose scenarios. This technology
allows customers to select various outfits in 3D online.
Recognized for its innovative digital technology and
brand-friendly design capabilities, Shinwon has been actively
collaborating with customers, recently securing an end-to-end order
for planning and producing the entire kids', women's, and men's
lines for a client.
Sue Lee, VP of Design, R&D,
emphasized, "We analyze vast amounts of data with AI technology to
predict trends based on objective and scientific evidence. Our
designers then curate final design insights based on their
understanding of Shinwon's brand DNA and market trend awareness."
He also added, "We appreciate the importance of the designer's role
as a curator and we will keep enhancing trust among our clients
through the advanced technology and data curation."
For more information, please visit https://sw.co.kr/.
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SOURCE Shinwon Corporation