A few months ago I wrote that adidas had combined with an accelerator program in Paris and they created an incubator that included over ten tech companies. The constant investment into tech appeared to be primarily in the digital space.
adidas Sets Up at Platform A in Paris | The Battle for Startups In the Sneaker Industry
ASICS and other brands have been investing in startups for a while, but it’s beneficial for all footwear companies to tout their innovation. ASICS launched their AAP (ASICS Accelerator Program) in March which focused on in-house work primarily. They moved outside of their own accelerator and worked with San Francisco based Y Combinator to invest in Aura.
ASICS Corporation (ASICS) announces that ASICS Ventures Corporation, its investment subsidiary, has taken an equity stake in Aura Vision, a startup that provides in-store analytics for offline retailers. Aura Vision is headquartered in the UK, and is led by Co-Founder and CEO Daniel Martinho-Corbishley.
Aura Vision is a startup founded in 2017 and provides in-store analytics for offline retailers, using their existing security cameras. With their proprietary technology, Aura Vision is able to detect and track in-store traffic and segment footfall based on age, gender, and other demographic factors, without relying on any facial recognition whatsoever. This places Aura Vision in a unique position, where they are compliant with GDPR regulations.
The solution is also able to differentiate staff members, so retailers can leverage this information to understand where staff and customers spend their time while in-store, and uncover opportunities for operational improvements. Aura Vision took part in the Y Combinator Winter 2019 batch.
ASICS has taken an equity stake in anticipation of uncovering opportunities for improvements of store operation and merchandising by tracking in-store traffic of customers with Aura Vision’s system. ASICS will consider to use Aura Vision’s system within its owned stores.
One of the primary points in my recent book is that brands are now becoming retail stores’ primary competition. As brands learn more about retail by opening their own doors, they are placing considerable strain on their wholesale accounts. When you consider PUMA is integrating RFID tech into their sneaker wall design, tech is at the forefront of improving in store sell through.
ASICS hasn’t really pushed store openings in the U.S., but it’s reasonable to think that acquiring a technology like Aura’s in store tracking, is basically a move to either launch more locations, or work with accounts to improve store design and funneling for their account holders. You can read about the shift in sneaker retail in my new book:
Nike’s Consumer Direct Offense, Amazon & StockX: The Disruption of Sneaker Retail
