Here are five reasons why London is a leader in retail and fashion tech:
1. Long-term investment
Few cities in the world can match London for its deep pools of capital and active investors. In 2018 alone there was more than £3.3bn worth of VC investment into London's internet retail sector.
2. World-class skills
London is home to more software developers than any other European city, with more than 350,000 workers across the capital, ahead of Paris, Madrid and Berlin. Four of the world's top ten fashion schools are also based in the city, including the top-ranked Central Saint Martins.
3. Digital-hungry consumers
The UK is Europe’s largest mobile app market and Londoners are among the highest adopters of ecommerce, spending 150% more on average than the rest of the UK per online order.
London is a hub for innovation and creativity and that’s why we chose White City in London. Since its inauguration, the area has provided the perfect canvas for us to cultivate talent and inspire new thinking.YOOX NET-A-PORTER GROUP
4. Entrepreneurial support
The UK capital offers many brilliant schemes to support retail and fashtech entrepreneurs, such as Farfetch’s Dream Assembly, a fashion and retail accelerator that offers startups a programme of education, mentorship and networking, and the Centre for Fashion Entreprise’s Fashtech Pioneer Programme, an innovative six-month programme to support fashion technology entrepreneurs.
5. An ambitious future
Get involved in the East London Fashion Hub – a £2m investment into a package of innovative fashion projects across east London.No city has ever implemented such an ambitious strategy to support and grow its fashion industry.