After evaluating businesses across 35 industries and in every region of the globe, Fast Company has this week published its annual ranking of the world’s 50 Most Innovative Companies. And among the groundbreaking brands recognized for making the most profound impact on both industry and culture are Carmen-backed luxury fashion platform Farfetch and customizable knitwear company Unmade.
Ranked among the top ten retail businesses, Farfetch was particularly commended for embracing streetwear in its luxury portfolio through its acquisition of sneaker resale brand Stadium Goods, whose products are now available on the Farfetch platform. Keeping its finger constantly on the pulse in terms of how the luxury industry is evolving, Farfetch has also expanded its online offering by partnering with The Modist, an e-commerce hub specializing in modest fashion. It also offers white-label e-commerce services for designers including Thom Browne and Derek Lam, as well as having a physical store presence through its Browns and Browns East boutiques in London.
British-based Unmade’s original on-demand business model allowed its customers to order bespoke knitwear crafted on the company’s proprietary machine. But fast-forward five years and the start-up is now making mass customization an option for other fashion houses, a move which has secured the company second spot on Fast Company’s list of style sector companies.
By creating a customization platform that enables large apparel companies to create personalized, on-demand products in their own manufacturing facilities, Unmade helps to reduce the amount of unsold inventory, and by making a product only after it has been purchased, brands are able to cut down on waste and lower the cost of customized goods. Currently partnering with five brands, Unmade anticipates installing its software in 20 factories for a further 12 brands by the end of this year.