As a front-runner in sustainability, ARMEDANGELS, in partnership with AI specialists paretos, tackles the fashion industry's most significant challenge. Together, they reduce overproductions of clothing items through AI-driven demand forecasts.
Cologne, January 16, 2024 - As a front-runner in sustainability, ARMEDANGELS, in partnership with AI specialists paretos, tackles the fashion industry's most significant challenge. Together, they reduce overproductions of clothing items through AI-driven demand forecasts.
The AI-driven software, through precise demand forecasting, creates a tailored demand plan specifically aligned with the needs of consumers, thereby reducing overproductions and optimizing supply chains. This is based on in-depth analyses that consider nuances of colors and sizes, allowing for meticulous demand predictions on an item-by-item basis. This enables early identification of products with lower demand, leading to much more precise decisions about market-demanded products. Existing customers using paretos technology have improved their forecasting accuracy for various business sectors by 30 to 80% in recent years.
"The partnership supports our mission to fundamentally change the fashion industry sustainably," says Martin Höfeler, CEO of ARMEDANGELS. "Through Paretos' order recommendations, we have the potential to reduce overproduction at ARMEDANGELS by more than 40,000 pieces annually – a direct contribution to our sustainability strategy. This minimizes environmental impact, streamlines processes, and signals a clear commitment to innovation and engagement towards a more sustainable future."
The specially configured AI-driven software from paretos, designed to meet the requirements of ARMEDANGELS, opens up innovative perspectives for retailers. By early identification of top and slow sellers, it enables optimized adjustments to orders. This results in reduced returns, out-of-stocks, and excess inventory, leading to potential increased revenue.
The Cologne-based fashion brand expands the use of AI predictions beyond the online shop, incorporating the application into retail starting from the Spring Collection 2024. This tailored solution supports wholesale partners in demand forecasting, creating synergies that optimize processes, increase customer satisfaction, and elevate overall efficiency in wholesale to new levels. The groundbreaking collaboration between ARMEDANGELS and paretos is reshaping the future of retail: efficient, more sustainable, and perfectly aligned with the needs of consumers. This paradigm shift is transforming the industry and revolutionizing the shopping experience for customers.
ABOUT ARMEDANGELS
Since 2007, the Cologne-based label ARMEDANGELS proves that fashion can be different: innovative and timeless, produced according to responsible standards for people and planet. No wage slavery, no hazardous chemicals, no cheap mass-produced goods. From the simple idea of printing T-shirts and raising donations for projects and organizations through sales, a company has grown that is now one of the largest sustainable lifestyle labels in Europe. With a team of 160 and four collections a year, ARMEDANGELS shows that responsibility and good product design are not mutually exclusive.
ABOUT PARETOS
Paretos is the leading AI-based Decision Intelligence platform for data-driven decision processes. It enables companies to quickly and reliably analyze complex data, generate optimized forecasts and decision proposals, and derive actions - thanks to a clear No-Code user interface and simple integration solutions, even without prior knowledge of data science. Founded in mid-2020 by Fabian Rang and Thorsten Heilig, paretos' vision is that everyone can make good decisions at any time. Using state-of-the-art machine learning methods, the Heidelberg-based startup helps companies maximize business potentials. Since its launch in early 2021, multinational publicly traded corporations like Accenture and successful mid-sized companies like the Otto Group have already adopted paretos' platform. The founding team's goal: to become the number one in Dynamic Prediction and Optimization-as-a-Service for innovative mid-sized businesses and large corporations.
Would you like to know if paretos is the right solution for you? Feel free to schedule a non-binding consultation appointment.
Paretos is the leading AI-based Decision Intelligence software for optimized decision-making processes. With paretos, businesses can identify, plan, execute, and track business potentials through automated processes across the entire organization.
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