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Alibaba Ties Up With Guess to Boost Presence in Fashion World

Moreover, adoption of Alibaba’s AI technology will aid top-line growth. Alibaba’s strong efforts toward innovation of retail strategies will continue to aid its position in the retail world of fashion, particularly in China. Per the latest data from Statista, the fashion retail market in China is anticipated to generate $246.9 billion in 2018. Further, it is projected to grow at a CAGR of 13% between 2018 and 2022 and to reach $402.6 billion by 2022. The apparel segment remains a key catalyst. We believe Alibaba is well poised to reap benefits from this rapidly growing market on the back of its robust AI retail techniques. In fact, the utilization of AI bodes well for the interests of both customers as well as fashion houses. As per the report from Research and Markets, the use of AI techniques in the retail market is expected to generate 26.2 billion of revenues by 2025. FashionAI is capable of recommending products that match the personality and taste of customers. Consequently, this will enable the fashion brands to modify their production model and business as well.

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