{"id":50894,"date":"2022-12-03T12:10:00","date_gmt":"2022-12-03T12:10:00","guid":{"rendered":"https:\/\/blog.westminster.ac.uk\/thevoiceoflondon\/?p=50894"},"modified":"2022-12-03T01:27:15","modified_gmt":"2022-12-03T01:27:15","slug":"ms-buys-threads-technology-to-boost-its-fashion-personalisation","status":"publish","type":"post","link":"https:\/\/blog.westminster.ac.uk\/thevoiceoflondon\/ms-buys-threads-technology-to-boost-its-fashion-personalisation\/","title":{"rendered":"M&S buys Thread\u2019s technology to boost its fashion personalisation"},"content":{"rendered":"\n

On 30 November, Marks & Spencer acquired the intellectual property of Thread, including the source code and algorithms developed by the company, which\u00a0went into administration.\u00a0<\/strong><\/p>\n\n\n\n

\"\"
Credit: rupixen.com (Unsplash)<\/a><\/figcaption><\/figure>\n\n\n\n

Over the last three years, M&S<\/a> has invested in developing its digital data and data capabilities to offer customers personalisation elements on its website.\u00a0<\/p>\n\n\n\n

Personalised offers and outfit recommendations on the retailer\u2019s site have generated substantial value. The company anticipates 20-25 percent of all digital interactions to be personalised this year. <\/p>\n\n\n\n

Over the last 12 months, M&S\u2019s personalisation techniques like the \u2018frequently bought together\u2019 section have boosted sales and brought the business \u00a320m of revenue.  <\/p>\n\n\n\n

Marks & Spencer<\/a>\u00a0expect personalisation to help boost sales to \u00a3100 million annual revenue.\u00a0\u00a0<\/p>\n\n\n\n

Katie Bickerstaffe, Co-CEO of Marks & Spencer said: \u201cThe acquisition of Thread is the perfect example of a \u2018buy not build\u2019 approach \u2013 enabling us to accelerate our personalisation strategy by integrating the market leading tech on M&S.com in under 12 months. We\u2019re taking personalisation to the next level to inspire our customers with tailored outfit inspiration.\u201d <\/p>\n\n\n\n

Integration of the cutting-edge new technology to the M&S.com platform will accelerate personalisation and offer unique customer service. The clothing retailer will now recommend and suggest clothes based on budget, style and size.  <\/p>\n\n\n\n

\u201cWe have been working hard to deliver better, more stylish ranges and this algorithm will also put more of our great product in front of the customer,\u201d said Bickerstaffe. <\/p>\n\n\n\n

The personalisation will stretch across all clothing products that are available on M&S.com<\/a>, including third-party brand partners.\u00a0<\/p>\n\n\n\n

Following Thread\u2019s administration, M&S will be hiring 30 of its former data scientists, software engineers and styling & creative teams to lead and oversea a new personalised discovery team within their data and digital function. This includes Thread\u2019s founders Kieran O\u2019Neil and Ben Phillips. <\/p>\n\n\n\n

Kieran O’Neill, CEO and Co-Founder of Thread<\/a> commented: \u201cWe have worked for the past 10 years on building the most advanced AI personalisation for online fashion, proven to increase customer conversion and repeat orders. We\u2019re so excited to join forces with M&S; through their infrastructure and support, we\u2019re able to take our market leading technology to the next level.\u201d\u00a0<\/p>\n\n\n\n

Words: Aleksandra Martynow | Subbing: Yana Trup<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

On 30 November, Marks & Spencer acquired the intellectual property of Thread, including the source code and algorithms developed by the company, which\u00a0went into administration.\u00a0 Credit: rupixen.com (Unsplash) Over the last three years, M&S has…<\/p>\n","protected":false},"author":476,"featured_media":50897,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[82],"tags":[],"class_list":["post-50894","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-lifestyle"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t