Innovations In Luxury Retail Can Be Developed Through The Future of Luxury Retail Challenge

Dubai Future Foundation has declared LiveCrew, a French startup, as the winner of the Future of Luxury Retail challenge which allured over 250 startups from 30 nations. 

The first-of-its-kind industry looks to get the lightest minds together to contribute to the modernity of the retail industry’s customer experience. Starting in April, the Future of Luxury Retail schedule is a cooperation between Dubai Future Accelerators, a Dubai Future Foundation industry, and the deluxe brand Richemont. 

The challenge gives a prospect for businessmen and inventors to grow tailor-made experiences in the luxury retail industry that complete the requirements of clients and improve brand involvement. 

The startups’ solutions even set the target to prompt brands to deploy very modern technologies to study data, study clients’ behavior and communication, and improve interaction with clients through different digital and conventional channels in creative methods. 

The last stage of the Future of Luxury Retail challenge mentioned 5 startups from France, the UK, and the USA. The corporations were invited to Dubai to take part in wider 8-week programs to evolve their assignments, in collaboration with the Richemont team, prior to the last assessment procedure. 

The winning startup, LiveCrew, assists retailers to comprehend the shapes of their boutique guests and their motivations for seeing the store, as well as examines their procurement. This leverages salespeople’s understanding and utilizes offline data to increase online conversion and examine the consumer omnichannel journey. 

Abdulaziz Al Jaziri, Deputy CEO of Dubai Future Foundation, said, “As an international laboratory, the Dubai emirate has modified into a venue for industry professionals, businessmen, and startups to grow new solutions to future difficulties. DFA set the targets to power the status of Dubai as a major city of the future by giving a climate for creators and businessmen to flourish. This is a surrounding that facilitates cooperation and makes capable technologies and new thoughts thrive.” 

“The Future of the Luxury Retail industry has allured huge international participation of startups. The solutions will make tailor-made experiences that pleased the customers’ requirements and hopes while giving a simpler, more enjoyable experience. By using Dubai Future Accelerator’s abilities to co-build resolutions to future difficulties, the startups showed creations, skills, and proficiency essential to improve the client experience by leveraging spots like data study, clients behavior analytics, and creative interaction channels.” 

Pierre Fayard, CEO of MEIA, Richemont, said, “We are very grateful for the rapport between the Dubai Future Foundation and Richemont. Inviting our workers in the group, Maisons, and retail to meet and perform with the different startups has counted remarkable value, and the feedback has been greatly positive.” 

“Creation and technology are the future. This fosters development and is required to adjust and overcome difficulties specifically in the sector of luxury retail. Our purpose with this schedule was to think outside the box and make sure of a bright, creative future. Holding the prospect to execute this through an inventive and cooperative schedule, like the DFA, gets us still another move closer to our target of moving into the luxury retail sector and getting in touch with our customers.

We highly thank all included in this schedule and look ahead to cooperating with the DFF again to re-imagine and co-create a better future.” 

Dubai Future Accelerators 

His Highness Sheikh Hamdan Bin Rashid Al Maktoum, Crown Prince of Dubai started Dubai Future Accelerators schedule in 2016. This is deemed an international forum that gives a prospect for startups and businessmen globally to cooperate with strategic government units and work closely with decision-makers in Dubai. 

The Dubai Future Accelerators schedule supports the status of Dubai as a center of invention, a testbed for rising technologies, and an appealing spot for businessmen and startups with bold resolutions to future difficulties. 

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