Inditex, which owns fast fashion brand Zara, has been lately facing tough competition especially from its young rivals.
The young rivals, such as Missguided, have managed to quickly carve a niche for itself by producing clothes at a faster pace.
To combat this threat, Inditex is all set to embrace new technologies by not only tying up with tech firms but also by recruting new talents from start-ups.
While the success of this tie-up will determine if Inditex is able to keep itself ahead of its competitors, it will also make clear if the combination of online sales and retail stores will previal in future.
Reportedly, the innovation unit at Inditex has tied up with Fetch Robotics (US-based) to test the functioning of robots in stock inventory.
Besides, Inditex has joined hands with Intel to make devices that will help in quickly measuring the amount of apparels in boxes.
Inditex said that it is focusing on technologies that will enable them to keep a track of footfall in retail shops. Additionally it also plans to use virtual assistants to guide the shoppers.
The company has also entered into partnership with Jetlore that uses artificial intelligence in order to study the behaviour of consumers.
