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XRC labs by Fung Global Retail Tech July 29 2016
- 1. 1
JULY 29, 2016
DEBORAH WEINSWIG, MANAGING DIRECTOR, FUNG GLOBAL RETAIL & TECHNOLOGY
DEBORAHWEINSWIG@FUNG1937.COM US: 917.655.6790 HK: 852.6119.1779 CN: 86.186.1420.3016
Copyright © 2016 The Fung Group. All rights reserved.
• Fung Global Retail & Technology attended the XRC Labs Demo Day
on July 28th, 2016 in New York City. XRC Labs hosts 10 emerging
brands for 10 weeks and is a partnership between the Parsons
School of Design at the New School and Kurt Salmon.
• XRC Labs is a design-centric innovation eco-system for the retail and
consumer goods industries. Its vision is to be on the forefront of
change, disrupt the conventional system of retail and promote the
best experience for consumers and producers.
• The startups that participated were centered around three major
customer solution areas. In the Store as an Experience cohort were
Banter, The Crated and Strypes. In the Store as a Platform group
were Perseus Mirrors, Furnishr, Reveal, ShopShops, Seashells and
OLAM. WearAway participated in the Stores as Services area
XRC LABS 2016
Fung Global Retail & Technology attended XRC Labs 2016 on July 28 in
New York City. XRC labs hosts 10 emerging brands for 10 weeks and is a
partnership between the Parsons School of Design at the New School
and Kurt Salmon. XRC is a design-centric innovation eco-system for the
retail and consumer goods industries. XRC labs had two platinum
sponsors, Best Buy and the National Retail Federation (NRF), and seven
gold sponsors: TJX, Penguin Random House, Reebok, Intel, The Retail
Industry Leaders Association (RILA), ThoughtWorks and Shoptalk.
XRC Labs
Demo Day
- 2. 2
JULY 29, 2016
DEBORAH WEINSWIG, MANAGING DIRECTOR, FUNG GLOBAL RETAIL & TECHNOLOGY
DEBORAHWEINSWIG@FUNG1937.COM US: 917.655.6790 HK: 852.6119.1779 CN: 86.186.1420.3016
Copyright © 2016 The Fung Group. All rights reserved.
Joel Towers, executive dean at Parsons School of Design kicked off the
presentations. He said XRC Labs’ vision is to be on the forefront of
change, disrupting the conventional system of retail while promoting
the best experience for consumers and producers. Retail innovation has
been slow as compared to technology and the area is ripe for change.
The XRC Labs brands who participated are described below:
Banter
Chief Executive Officer, Joe Beninato, and Chief Technology Officer, Frank
VanZile, created Banter as a way for customers to contact businesses over
direct messaging channels (SMS). Using artificial intelligence and human
agents, customers can make purchases and receive assistance in real time.
Banter is focused on the retail market, but the goal is for the firm to
expand into the travel and restaurant industries. Banter has a pilot with a
major retailer this fall.
Strypes
Strypes is a platform that allows customers to personalize their favorite
brands by using a design tool. Customers can also add customized touches
to existing goods through Strypes’ e-commerce
The Crated
Chief Executive Officer Madison Maxey created The Crated, which is
focused on integrating electronic circuitry into textiles. The Crated invents
materials and processes that help companies combine technology and
apparel to produce smart fabric, at scale. The Crated also conducts
proprietary research with the goal of making wearable, mainstream
second generation technology. The Crated has entered into a partnership
with Hela to produce their first product and handle licensing.
Furnishr
Furnishr is an end-to-end platform where customers can select a pre-
configured room design online. Furnishr manages the entire process and
handles delivery, assembly and cleanup—all in the same day. Furnishr
coordinates the order and delivery process and ensures the furniture
arrives all at once. Furnishr works with quality furniture suppliers and
passes savings on to customers. Furshishr’s CEO is Michael Van and the
CTO is Karen Lau
ShopShops
Created by Chief Executive Officer, Liyia WU, ShopShops is a cross-border,
online to online (O2O) e-commerce platform that connects US retailers
with global consumers with a focus on the Chinese market. ShopShops
allows consumers to browse and shop by location and for authentic
products, brands and stores. ShopShops uses a universal checkout and
creates a virtual and physical shopping experience
- 3. 3
JULY 29, 2016
DEBORAH WEINSWIG, MANAGING DIRECTOR, FUNG GLOBAL RETAIL & TECHNOLOGY
DEBORAHWEINSWIG@FUNG1937.COM US: 917.655.6790 HK: 852.6119.1779 CN: 86.186.1420.3016
Copyright © 2016 The Fung Group. All rights reserved.
Seashells
Chief Executive Officer, Harrison Hines, created Seashells, a real-time cash
back platform. Users can receive cash back online as well as in-store by
signing up for a Seashells loyalty card and paying for services in-store.
Customers receive cash back at point of sale and do not have to wait the
industry average of 90 to 120 days.
OLAM
On-Line @ the Mall—Olam is a technology-enabled logistics platform for
the mall-based retailer. Andrew Fawer, CEO, and William Thayer, COO/CIO
created OLAM to offer consumers a way to purchase and pick up the same
day at the mall. OLAM allows retailers to leverage both online and physical
channels. The cost per pickup is $5.
Perseus Mirrors
Perseus is the first smart mirror designed for the home. It is equipped with
wi-fI and Bluetooth capabilities, device syncing and a customizable digital
dossier for displaying information. The mirror includes an embedded
camera for video conferences and selfies.
WearAway
WearAway is a business-to-business (B2B) platform that serves a $15
billion wardrobe rental industry. The company connects brands and
retailers to wardrobe stylists and costume designers who are required to
select and purchase large volumes of wardrobe supplies for film, TV and
commercial productions. WearAway has brought an offline business
online. The firm provides stylists access to a network of brands they can
reserve online and rent.
Reveal
Created by Morgan Berry, CEO, Reveal is a mobile, multi-brand, retail
discovery experience that connects brands and products with fashion
consumers. Each mobile boutique emerges for up to one month in urban
locations to bring consumers exclusive, limited edition creations. Each
mobile pop-up takes only 22 minutes to install, includes dressing rooms
and is equipped with radio frequency identification (RFID) coding.
