AI Fashion Firm FnsHoldings Eyes Global Market After Securing Japanese Backing
South Korea’s digital fashion company, FnsHoldings, has attracted its first foreign investment. With this investment, FnsHoldings plans to aggressively target the global fashion market, with a particular focus on breaking into the top 5, including Japan.
The investment included participation from Digital Hollywood Company, a subsidiary of Culture Convenience Club (CCC), which owns the famous Japanese bookstore chain TSUTAYA. Digital Hollywood is a leading educational institution in Japan, operating universities, graduate schools, and academies. It focuses on nurturing talent in digital content areas, such as 3D imaging, VR/AR, and media art. The two companies had previously signed a Memorandum of Understanding (MOU) in July 2022 for joint research in fashion technology.
Takeshi Yoshimura, CEO of Digital Hollywood, stated, “The way FnsHoldings integrates various technologies, based on their accumulated know-how and expertise, is impressive. We expect them to bring innovation in digital transformation to the fashion industry and to continue evolving.”
Meanwhile, FnsHoldings has been developing various services to provide digital fashion experiences that reflect individual characteristics and tastes. Recently, the company commercialized the ‘AI Lookbook Solution,’ a digital fitting service that utilizes generative AI technology. This development was based on collaborations with major fashion brands both domestically and internationally.
The ‘AI Lookbook Solution’ is a B2B service that combines AI models, clothing, poses, and backgrounds into a single image. Fashion companies, the primary customers, can use this solution to generate high-quality lookbooks with AI models anytime. FnsHoldings plans to continuously enhance this technology through ongoing R&D, quickly distribute services that match rapidly changing trends to the market, and contribute to the digital transformation of the fashion industry while addressing pain points.
Hyun-seok Choi, CEO of FnsHoldings, said, “The biggest challenge in entering the global market is localization, but having Digital Hollywood by our side is reassuring. Starting with the Japanese market, our goal is to expand digital fashion globally and to build a sustainable fashion ecosystem by adopting a ‘digital-first, produce-later’ approach to prevent indiscriminate production.”
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