This Chinese AI start-up helps Nike, Gap predict fashion trends

This Chinese AI start-up helps Nike, Gap predict fashion trends

Hangzhou Zhiyi Technology, a pioneering Chinese start-up, is leveraging artificial intelligence (AI) to revolutionize apparel design and production.

The company has already partnered with global giants like Nike, Gap, and Urban Revivo to help them predict upcoming fashion trends.

Founded in 2018 in Hangzhou, the capital of eastern Zhejiang province's technology hub, Zhiyi Tech specializes in analyzing style and sales data from leading shopping and social media platforms worldwide.

Urban Revivo's chances of creating bestsellers have improved

Zhiyi Tech's expertize has been instrumental in boosting the sales of its clients.

Zheng Zeyu, the start-up's founder and CEO, revealed that Urban Revivo, a fast-fashion retailer based in China and a client since 2020, has seen a 5% increase in its chances of creating bestsellers over the first three years of their partnership.

Urban Revivo usually produces over 100,000 designs annually.

Urban Revivo's sell-through rate has also improved

Along with boosting the chances of creating bestsellers, Zhiyi Tech has also helped Urban Revivo improve its sell-through rate.

This metric measures how much inventory is sold in a given period compared to what was received from suppliers during that time.

Over the same three-year period, Urban Revivo's sell-through rate improved from 60% to an impressive 80%, thanks to Zhiyi Tech's AI-driven insights.

China's AI market is projected to reach $780B by 2030

The success of companies like Zhiyi Tech is driving the adoption of AI technology across industries in mainland China.

With favorable policies and mandates from the government, the AI market in the country is projected to reach a whopping 5.6 trillion yuan ($780 billion) by 2030, according to data from state-backed investment bank China International Capital Corp.