In order to meet customer demands and keep up with the fast evolving fashion business, South Korean fashion giant Shinwon Corporation is actively employing AI and big data technology from the trend research stage onward.
To fully grasp market circumstances and trends, Shinwon employs a variety of techniques, including trend analysis, social media analysis, and online market sales data analysis. The business determines preferred colours and patterns by examining actual sales data broken down by market and category. It offers customers a service that combines deep learning and machine learning technology to forecast future trends.
Shinwon’s strength is its broad range of AI-powered data analysis capabilities, which include the analysis of retail price trends, inventory trends, sales status, colours, and designs. They intend to boost this percentage this year from 20% of their market intelligence (MI) data in 2023, which was constructed utilising AI data analysis. In order to help consumers better grasp market trends and make judgements based on a wealth of information prior to product supply, Shinwon uses gathered data and AI analysis results.
Sue Lee, VP of Design, R&D, emphasised, “We analyse vast amounts of data with AI technology to predict trends based on objective and scientific evidence. Our designers then curate final design insights based on their understanding of Shinwon’s brand DNA and market trend awareness.”
At its six overseas production subsidiaries in nations like Guatemala, Nicaragua, and Vietnam, Shinwon has developed top-notch production skills for knitwear, sweaters, and waders. It is growing its market share internationally thanks to favourable reviews from international customers including Target, Walmart, Gap, Columbia, Patagonia, and Gap.
