3D Fashion Firm LincTex Raises $100M

LincTex Digital, a Chinese company that makes virtual try-on technology for fashion retailers, has raised $100 million in a new funding round.

As Reuters reported Thursday (June 23), the funds will help the Hangzhou-based company expand internationally and move further into the world of digital fashion.

Founded in 2015, LincTex’s flagship product is Style3D, a software and hardware developer for the fashion sector. First launched as a virtual-try and 3D body scanning tool, Style3D has since expanded to offer services for clothing designers and manufacturers, allowing them to use big data to create fashion collections.

The company has also begun to venture into the metaverse with a digitally-simulated fabric that is designed to mimic real-world clothing in look and movement.

Read more: Amazon Adds Virtual Try-On for Shoes

The past few months have seen a number of companies embrace virtual try-on technology. Earlier this month, Amazon launched Virtual Try-On for Shoes, an interactive mobile experience that lets customers see how a pair of shoes will look on them.

The tool will “better inform purchasing decisions,” Amazon said in a blog post, noting that US and Canadian users can use it “from the comfort of their home or on the go” through the Amazon shopping app on iOS.

Virtual Try-On for Shoes features thousands of sneaker styles from New Balance, adidas, Reebok, Puma, Superga, Lacoste, Asics, Saucony and other shoe brands. After choosing a shoe, customers can tap the Virtual Try-On button underneath the product image and point the camera on their mobile device at their feet to see how the shoes would look on them.

Read more: Sally Hansen, Perfect Corp Launch Virtual Try-On Tool

And in February, beauty brand Sally Hansen debuted a virtual try-on tool with the help of Perfect Corp.’s AgileHand Technology, letting shoppers experience hundreds of Sally Hansen nail color options in augmented reality.

In 2021, Coty, Sally Hansen’s parent company, entered an agreement with Perfect Corp., an artificial intelligence (AI) and augmented reality (AR) beauty and fashion tech solutions provider.

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About: PYMNTS’ survey of 2,094 consumers for The Tailored Shopping Experience report, a collaboration with Elastic Path, shows where merchants are getting it right and where they need to up their game to deliver a customized shopping experience.

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