Luxurynsight, the French data analytics group founded by Jonathan Siboni, merges with Heuritech, specialized in image analysis powered by artificial intelligence. This French Fashion Tech nugget, founded in 2013, was the winner of the very first LVMH Innovation Award presented at the Vivatech trade show.
Complementarity made in France
The merger between Heuritech and Luxurynsight – “the Bloomberg of the luxury industry” – marks the coming together of two French players in data analysis. A French pioneer in visual artificial intelligence, Heuritech was also the first company to win a LVMH Innovation Award at the Vivatech trade show in 2017.
Capable of analyzing up to 2,000 details in an image using machine learning, the start-up has established itself in ten years as the benchmark for image analysis on social networks for fashion and luxury companies, developing expertise in deciphering product trends. Sustainable in essence, Heuritech enables brands as diverse as New Balance, Prada and Decathlon to both quantify and forecast demand and trends, and thuspositively impact inventory management and reduce waste.
Co-founded in 2011 by Jonathan Siboni, after running a specialist consultancy in China , Luxurynsight is a pioneer and leader in providing data-driven solutions for the luxury, fashion and beauty industries. The company has developed trusted partners with major names in the sector such as LVMH, Chanel, Kering, L’Oréal, Dior, Bulgari, Balenciaga, Armani, Coty and Puig.
A tenfold increase in Business Intelligence
This union with Heuritech enables Luxurynsight to strengthen its business intelligence expertise, drawing on Heuritech’s cutting-edge knowledge of consumer behavior.
The aim is to create a future “made in France” world leader in SaaS data intelligence solutions, in other words, on the tech and business side.
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Featured Photo: LVMH Data Summit 2022 © LVMH
