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Asos and Uniqlo seek retail technology inspiration in Israel

Fashion retailers Asos and Uniqlo were among several international businesses that visited Israel last week to explore what retail technology innovation is going on in the country.

The retailer guests, which also included representatives from JD.com and Myntra, participated in a four-day event of site tours, one-to-one meetings, and a conference showcasing many of the start-up businesses operating in the region.

Organised by retail technology innovation hub, Re:Tech, the event aimed to bring together retailers and start-ups to foster potential investment opportunities, merger and acquisition activity, or general partnerships.

While in Israel, the retailers visited Kornit Digital, a pioneer of production-on-demand technologies, and Twine Solutions, a start-up developing a sustainable thread dying on-demand technology. The Retail Disrupt conference they attended included contributions from start-ups including Cyberint, Riskified, Trigo, mmuze, BrandTotal, Bringg, Syte, RFKeeper, Mixed.Place, Hexa and Dynamic Yield.

Yael Kochman, a partner and CEO at Re:Tech, said: “There is no doubt that retail is one of the hottest areas in Israeli high-tech these days.

With the recent acquisitions of Upstreem Commerce, Visualead, Invertex and others by retail giants such as Nike, Alibaba and Myntra, it is clear that while Israel doesn’t have a large retail market of its own, it is definitely able to supply cutting-edge technology to provide retailers with a competitive edge.”

Re:Tech was founded earlier this year with the goal of helping international retailers build open innovation programmes by working with start-ups

“Israel is amongst the most exciting technology hubs in the world today, and in my role in leading revenue for a $2 billion business I am keen to bring the best tech solutions Israel has on offer to bear on our biggest challenges/opportunities and hence scaling our impact,” explained Mithun Sundar, Myntra’s chief revenue officer, who attended the event.

“In my early interactions with Re:Tech I have been pleasantly surprised by its agility, focus, customer understanding and depth of connections."

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