Branded apparel retailer Arvind Fashions Ltd said it has signed on Nucleus Vision LLC, a San Francisco-based Internet of Things (IoT) and blockchain company, to develop solutions that will enable more personalised shopping experience at stores.
The two companies have entered into a memorandum of understanding for a pilot project that will see Nucleus Vision’s sensor technology being deployed by Arvind Fashions across its GAP, Nautica and US Polo Association stores.
Arvind Fashions, which holds the licence for over 20 national and international fashion brands and operates around 1,500 standalone stores and 5,000 departmental and multi-brand stores across India, has been looking for ways to better understand its customers' behaviour. “Nuclear Vision’s revolutionary technology will give us valuable insights into our customer behaviour, which will help us improve customer satisfaction and increase revisits,” said Rukaiya Rangwala, operations chief, digital centre of excellence, Arvind Fashions.
“This is a big step towards our goal to associate with the leading players in the Indian retail market to help them create a better shopping experience,” said Abhishek Pitti, founder and chief executive of Nucleus Vision.
Founded in 2014 by Pitti at Harvard University, Nucleus Vision enables omni-channel engagement for physical retail stores with their customers. The IoT and blockchain startup has been backed by billionaire venture capitalist Tim Draper, enterprise development firm and venture capital fund IndusAge Partners and several other prominent industry players. The firm has significant operations in Hyderabad.
Arvind Fashions introduced the first international menswear brand in India, called Arrow, in 1993 and today licenses myriad brands including GAP, Aeropostale, GANT, US Polo Association, The Children’s Place, Ed Hardy and Sephora.
The company launched Flying Machine, the indigenous youth-apparel brand in 1980. It also houses its own brands including The Arvind Store, True Blue and Unlimited. Arvind Internet Ltd, the digital arm of Arvind Fashions, made its foray into the e-commerce sector in 2014, with the launch of its clothing portal.
The Indian retail market is estimated to reach $1.1 billion by 2020. According to a report by Forrester-Epsilon, personalisation plays a substantial role, with its findings suggesting that 63% of Indian consumers prefer a personalised shopping experience.