French technology provider Lectra uses AI to help fashion brands understand the pricing of their competitors’ products in real time.
Lectra said in a recent statement that it announced the latest version of its AI-powered market intelligence solution called Retviews, a technology that provides a complete view of a brand’s competitive fashion landscape.
This comes six months after Lectra acquired Retviews in 2019. At the time, Retviews said it had developed a platform that could provide real-time market data to fashion brands.
Lectra said the new version is “more detailed and contextual” and will be a strategic assistant for fashion companies seeking a reliable, integrated view of the markets they serve.
By using Retviews, fashion brands can refine collection plans, discover new trends, adjust pricing strategies and ultimately optimize profit margins, Lectra said. According to Lectra, the platform can reduce inventory investments by up to 20% by increasing flexibility during the season, while increasing replenishment rates by up to 98%.
“Today’s fashion industry faces a paradox. Brands have access to more data than ever before, yet decision-making has never been more complex. Market volatility, geographic fragmentation, pricing pressures and accelerating cycles are making traditional models obsolete,” said François Gonot, director of product marketing at Lectra.
“With this new version of Retviews, our ambition is clear: to turn data into a sustainable strategic advantage by giving brands the means to precisely guide growth, without ever compromising brand value,” he added.
Lectra on traceability in the fashion supply chain
At Lectra, we want to help fashion brands restore trust in their supply chains by not only staying ahead of their competitors, but also using technology to increase their visibility.
The company recently released an infographic showing how decisions about raw materials and suppliers can impact up to 77% of a product’s greenhouse gas emissions, long before the product is used or disposed of.
Lectra said sustainability also needs to be integrated into other parts of production, from supplier selection to manufacturing processes and marketing decisions.
“It is at these critical decision points that the most effective means to address environmental, social, and compliance impacts are concentrated. By mapping these critical decision points, Lectra is showing how technology and data can increase visibility, secure workflows, and restore trust at every level of the value chain,” the statement reads.
