Is Technology The Catalyst Africa’s Fashion Industry Has Been Waiting For?
Africa has a deep history of Fashion, from the rich Ankara of West Africa, delicate Netela from Ethiopia and Sheshwe cloth of the Basotho, all are unique and distinct. However, despite the abundance of creativity and passion for apparel, shoes and accessories, the continent’s fashion potential remains untapped and only accounts for 1% of the $3 trillion global fashion industry.
In April 2018, Fliptin participated in the FASHIONTech™ Hackathon as part of the Graduation Events of Threads Stitched by Standard Bank, The Business of Fashion Accelerator. The hackathon was developed in partnership with Fliptin and took place at the Tshimologong Digital Precinct.
Speaking on being part of the first FASHIONTech™hackathon on the continent. “The potential of technology to be that bridge between imagination and execution in fashion is undeniable. Our role as Start-up studio, dream builders, software developers, co innovators, bridging Fintech, Blockchain and IOT , is central to birthing the next fashion giants who can stand toe to toe with commanding global brands like Tom Ford, Nike and Gucci.” explains Mustapha Zaouini, CEO of Fliptin
The retail space in Africa is dispersed and diverse, ranging from road side markets, small family tailors and sophisticated flagship retail brands in shopping malls. The lack of dominant infrastructure or retail models leaves a massive space for innovation using technology.
Technology has the power to empower users and Fliptin’s experience with the FASHIONTech™ hackaton illustrated that when creators and technology experts are given the opportunity to collaborate, the potential is unlimited. A report by ‘We Are Social’ states that Africa has seen the fastest growth rates in internet penetration, with the number of internet users across the continent increasing by more than 20% compared to 2017. With so many Africans jumping online the opportunities for ecommerce are still in their infancy, but once tapped into, are undeniable.
On a practical level, companies like Fliptin can be the bridge between creatives, manufacturers, retailers and distributors in the fashion industry. The usage of technologies such as 3D facilitate production at lower cost and higher efficiency, while VR and AR can reduce wastage and lost profits because creators only produce according to shopper’s tastes. In addition to the design side, tech also has the potential to use platforms such as Block Chain in supply chain management and logistics and deploy cryptocurrencies, opening up trade globally and access markets safely.
Zaouini concludes that, “We believe technology has the ability to transform Africa’s fashion industry from a laggard to leader, it is already changing and we anticipate that this will only accelerate going forward.”
