"This technology and brand digitizes how people select outfits and expand their wardrobe," explains Andy Godsey, GTT Group Managing Director, "similar to music's digital transition that empowered a whole new level of personalization and user interaction."
(PRWEB) February 21, 2019
Global Technology Transfer Group, Inc. (GTT Group), a leading technology transaction advisory firm specializing in information and communication technology has announced that they are serving as an M&A advisor to a personal stylist software platform customizable to any wardrobe that uses machine learning to assist users with outfit selection based off a number of factors such as mood, context, preference, etc.
The company’s team of eight has proven expertise in "taste" classification technologies, selling several products to the largest tech companies in the world. Core competencies include automation, machine learning, artificial intelligence and behavioral analytics. The cofounders' credentials include heading the robotics simulation department of Germany's largest robotics company and building three dependable automation startups, respectively.
Offering effectiveness currently unseen in personal stylist software, the product's technology is unique and patented. The infrastructure built includes two key aspects: (i) mechanisms to capture the fashion taste of individuals, including what specific clothes someone has in her closet; and (ii) a system to transform incoming user input into clean, structured and correlated data that technology can interpret, and offer services on top of it, thanks to a unique community-generated fashion ontology. It structures data according to users' current garments, personality preferences and environment, enabling the automation of outfit suggestions and relevant wardrobe additions. Platform users are able to upload the clothes in their closet within seconds and upload and review different fashion looks. From the data generated, the platform is able to provide a personalized fashion experience that understands the taste profile of each user.
The company has generated a patent portfolio that will be foundational to the digital evolution of the fashion industry. The data the platform captures includes user tastes, habits, current wardrobe, search analysis, and user descriptions. The platform owner will benefit from advanced classifications of data that provide an unparalleled understanding of their customer and improving the recommendations the customer receives. Data correlation, meanwhile, enables recommendations and tips sensitive to the particular user's tastes. The product features algorithms for 10 different functions that help wardrobe selection, ranging from fashion ontology concepts to an ensemble builder. Their technology enables a fully functional AI personal stylist.
The company has already proven viable and in demand, duplicating its revenues every month for the last few months. Over 80,000 unique subscribers keep an average of 44 clothes in their digital closet and 30,000 new, organic users are subscribing via iOS every month at zero cost to the company, generating around 60 million search data points a month at the time of this press release. Community-generated ontologies, meanwhile, include over two thousand “what to wear” descriptors and one thousand meta-garment definitions. The technology overall has calculated close to two million head-to-toe outfits and compilation will be ongoing as monthly subscribers increase.
Shopping via the platform is also common. Current recommendations generate over 20 percent conversion from product views to visiting its ecommerce store page. Subscribers have the opportunity to share outfits and suggestions, increasing the viability of participating brands and retailers. The company is currently developing trend detection, group clothing recommendations and social networking.
GTT Group has prepared materials for this exciting opportunity. "This technology and brand digitizes how people select outfits and expand their wardrobe," explains Andy Godsey, GTT Group Managing Director, "similar to music's digital transition that empowered a whole new level of personalization and user interaction."
Please contact Andy Godsey for more information. All inquiries will be kept strictly confidential. GTT Group is approaching potential buyers and providing materials explaining the portfolio's strategic advantages. Subject matter experts will be available to discuss the patents' strength and market applications.
About Global Technology Transfer Group, Inc.
Global Technology Transfer Group, Inc. is a patent analysis and transaction advisory firm. The company’s corporate headquarters are in Portland, Oregon.
For more information, visit GTT Group at: http://www.gttgrp.com
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