PSYKHE Fashion – NOAH19 London

PSYKHE Fashion – NOAH19 London


Hello everybody, I’m Annabel the founder of psyche So a show of hands. How many are you looking at this and thinking off another a I company or another recommendation engine? Okay, well seems like I’m in the right audience then so I’m gonna start off by showing you the This from Gartner. It’s the hype cycle for emerging technologies and it’s very much what it looks like it’s a life cycle for hype and This is last year’s so if you see You know general AI is somewhere towards the bottom and I think now this year we’re really in the thick of the bubble And so if you’re an AI company or if you’re investing in AI companies, you know You don’t want to get sucked into, you know, just throwing AI at haphazard data You want to you want to do something meaningful and you want to end up at the plateau of productivity in a few years? And how do you do this, I mean a lot of fashion companies they have mine fields of data they’ve been employing machine learning for some time and yet There hasn’t been you know a Netflix for fashion that’s appeared A lot of companies have tried to do this and doesn’t really seem to work out Feel like every good founder. I started off reading of Peter Thiel zero to one and you know, I’m sure you’ve read it But for me the key takeaway of that book was that the but you know great companies are going to be built when trying to answer a secret or trying to answer a specific question and My career I have a background in psychology and a decade in the fashion industry led me to ask Why do we wear what we wear? It’s also the title of my forthcoming book that’s in submission at the moment Because really if we understand why we wear what we wear we can understand why consumers buy what they buy Here’s what I believe is the missing ingredient Personality traits science, which is the subset of psychology So here is the Big Five model. It’s been used by scientists since the 1960s to Predict all kinds of behavior quite reliably such as political affiliation who were likely to marry what we’re likely to study in university what music we tend to like it’s a very robust measure of personality and the way it works is that there’s five spectrums and If you shake the test you would score from 1 to 100 On each spectrum and that forms like a personality code or you know your composite personality Here’s an example, so take the trait of neuroticism which is responsible for a Proneness to bad moods a tendency to experience anxiety Sadness, you know, it’s a bit of a dark trait, but it’s not all bad. We’re also tend to be more creative folk So here you have for example, two polarities, you have the neurotic personality which tends to you know, we’re sensitive. We’re vulnerable We see fashion is armor. So we tend to invest heavily in black Structure. I’m quite sure that the neurotic spends more on fashion. It’s you know, it’s their daily armor They love black. They they don’t like prints. They don’t like light fabrics and They’re not a fan of bright colors Whereas the non erotic personality is quite the opposite sees fashion is fun loves prints love’s loves a happier aesthetic generally now again, these are just two extremes and most people do fall somewhere in between and the Relationship between the different personality traits together is really key here You Know not switching. Oh, there we go So if you don’t believe me Cambridge analytic Oh I’m sure you’re familiar with the scandal basically proved this on a grand scale and Kind of did this backwards they looked at what fashion brands people liked on Facebook? And they realized that people that like avant-garde fashion brands scored high on openness tend to be liberal and they tailored their political Messaging accordingly and those that liked traditional brands Predictably scored lower on openness and were a lot more right way Though we do not scrape facebook for data our BTC platform works by we actually administer the real personality test a condensed version so users have to take the personality test the big five test to to get their scores and we use that to To create basically the baseline recommendations and on the back end. It’s really our feature engineering and our labeling That is our secret sauce. And of course I cannot talk about that So, I mean what are people really into shopping this way I think earlier critics of my theory really Well, you know, maybe it’s a little too dark. It’s a little too cerebral. No one wants to think about fashion that much But the past year and a half I’ve spent Developing the media arm of psyche the psychology of fashion Which is this digital authority on the topic and I become a pioneer of sorts and it’s grown very quickly We have 12 K followers now and Instagram our website traffic. It’s growing and With no PR at all. We’ve managed to get spots an Oprah Magazine and the New York Post The New York Times style and Financial Times So it’s definitely an industry that’s on the rise this sort of explaining of why and if you think about it I mean, it’s already happen with the food industry and various other industries We want to know why we were young the way that we do to certain things So we’re approaching a twenty five billion Target SM old target market we work as an aggregator. So no one actually checks out on our site You know, I think it’s a we basically people love a one-stop shop as we’ve seen with all of these other platforms here we think that psyche you will be the one-stop shop because we’re basically partnering with Every luxury fashion and also mid-range fashion brand and e-commerce player so all of the places that user shop will already be on psyche and They won’t have to go to every side and comb through pages and use filters so and on top of the baseline personality trait recommendation We also have three more interesting filters that don’t exist anywhere else You can update based on mood and filter that way and that would changes recommendations. You can filter through where you are you can filter through an upcoming trip and shop for that trip because as we know Travel and different locations also very much affect your psychology. So he felt that that was an unbranded ition That’s us as I mentioned I have a decade in fashion a background in neuropsychology, I’ve worked I’ve written for So amazing publications. I’ve worked with some amazing brands. I felt that We were looking at we were not looking at fashion in a deep enough way and hence. I founded I went into fashion psychology and Apart from quite a few contractors. My other full-time employee is a data scientist She previously worked as a quant and is very passionate about AI and what I think is really great about our team Tech and AI is never going to be you know, an afterthought and Brandon marketing is never going to be an afterthought I think we both bring a lot to the table Equally in that in that regard Our current investors were very lucky to have Karim – scats. She’s been dubbed as fashions fairy godmother by the New York Times Mainly because she was the first leader ambassador of net-a-porter when other investors didn’t believe that women would shop for clothes online She did and she very much believes that people will Shop in this way and continue that journey. She’s also an investor Farfetch’d list Mota and Lots of big players in fashion any commerce and we have John skipper who? helps very much on the he has an amazing background in media and he helps with You know us expansions with with content and with branding strategy Yeah, and those thoughts psyche, I think one last thing I’ll leave you with is that you know? Personalization is really the way forward and you can’t do personalization without personality Thank you

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