British online fashion and beauty store ASOS announced this morning that it's partnering up with Telefónica Open Future. The two companies want to find new and innovative start-ups and help them succeed. In return, the start-ups need to create new solutions to help customers find their way better, when they shop for items via mobile.
ASOS said the idea behind the start-up accelerator programme came after realising that 50 per cent of the company's sales came from mobile. What's more – in the past six months, there have been 3.2 million downloads of its app.
Now, the company wants to improve on its mobile experience, and it has chosen Telefónica Open Future as its partner.
The programme itself will help young start-ups, but in some cases even mature ones, through direct funding, office space within Wayra UK’s academy in Central London for a period of eight months, and training from an 'experienced network of coaches'.
"ASOS has always been known as a digital leader and this partnership will help us continue to serve the needs of our customers as they evolve. There are specific areas where we would like to accelerate innovation, but we are also excited to hear what ideas come back from the start-ups themselves. The potential here, for ASOS, our customers and the companies we end up working with, is huge and Wayra UK is the perfect partner to work with on this search,” said Cliff Cohen, ASOS CIO.
“To see ASOS - arguably one of Britain’s biggest start-up success stories - itself embrace open innovation in this way is truly inspiring and shows why the UK has evolved into one of the world's best start-up ecosystems. ASOS is the perfect co-investor for anyone interested in e-commerce, adtech and fashion tech,“ added Gary Stewart, Director at Wayra UK and Telefónica Open Future UK.
Image source: Shutterstock/Gajus