Jun 16 2020 ...

World Economic Forum names Nextail a 2020 Technology Pioneer

We’re excited to join the community

Each year, the World Economic Forum (WEF) selects companies from around the world involved in the design, development, and deployment of new technologies and innovations to form part of its Technology Pioneers community.

These companies are poised to have a significant impact on business and society. Nextail is truly humbled to have been awarded as a WEF 2020 Technology Pioneer as part of the 20th cohort of this community.

“It’s an honor to be selected as a Technology Pioneer by the World Economic Forum”, said Joaquín Villalba, Nextail CEO and Co-Founder. “It is confirmation that our technology empowers fashion retailers with the agility they need to best meet customer demand and make more responsible use of the world’s resources.”

“We’re excited to welcome Nextail to our 20th cohort of Technology Pioneers,” says Susan Nesbitt, Head of the Global Innovators Community, World Economic Forum. “Nextail and its fellow pioneers are developing cutting edge technologies all over the world. Beyond their innovations, these firms are contributing greatly to improving the state of the world.”

“Nextail is applying the latest deep technologies to satisfy retail consumers better than before by making sure the right product is always available in store. By doing so, it supports the growth and health of retailers and ensures that supply chains are run efficiently and are eco-friendly. This is entrepreneurship and technology at its very best: groundbreaking, profitable, and green solutions for a better world. A win-win-win,” said Alexander Ribbink, General Partner at Keen Venture Partners.

Past recipients include Google, Airbnb, Spotify, Twitter, and Wikimedia.

Selected for driving responsible consumption models

This year, WEF selected those promising Technology Pioneers that, in addition to shaping their respective industries, are also working on sustainability issues and more.

WEF selected Nextail for its contributions to creating responsible models of consumption for the benefit of business and society. Using AI and agile process automation, Nextail allows fashion retailers to better align supply with demand, selling more with less stock.

“Nextail has succeeded in leveraging niche expertise, sector knowledge, and the power of the latest technologies to build solutions that empower retail organizations in building sustainable consumption models”, said David Luquin, Executive Fashion MBA professor at ISEM Fashion Business School. “No longer solely a differentiator, digital solutions of this type are a must-have given today’s business complexities. We are very proud of having hosted them in the first edition of Atelier by ISEM.”

Data-forward fashion brands and retailers that have prioritized digital transformation by way of implementing advanced technologies and data-driven processes are better poised to be successful in the future. Demands on the fashion industry to lessen its impact on the environment will only grow stronger, and the technology Nextail develops can help retailers meet the call for value over volume.

“Retail is undergoing a massive transformation. Stock planning and inventory management are critical elements in the new industry landscape and key for a brand’s future success,” said Javier Figar, Pepe Jeans Global Direct to Consumer Senior Director.

“Nextail has enabled us to take a big leap forward and remain competitive in this new environment,” he continued. “With a data-driven forecast of demand, we are able to reduce in-store coverage while pushing sales up. Additionally, we can make improved quantitative decisions on future production, resulting in less overstock, smarter consumption, and more efficient use of resources.”

Pieter Lammens, Founder & Director of Lafayette Plug and Play said, “At Lafayette Plug and Play, we bring together first-class startups and leading retailers to foster innovation. Nextail successfully addresses a key priority of the retail industry, providing data-driven solutions to align supply and demand. Looking toward the future, considering the challenges posed by the COVID-19 crisis, retailers will prioritize the type of agile transformation Nextail provides. We are proud to call Nextail part of our ecosystem in addition to this World Economic Forum recognition.”

Drawing eyes toward the Spanish startup ecosystem

Being named a Technology Pioneer is not only positive recognition for Nextail, it’s also good news for the Spanish startup ecosystem.

David Luquin also said, “At ISEM Business School, we are proud to see how Spain is not only home to some of the leading fashion labels worldwide, but also to companies leading digital transformation across the breadth of the industry.”

Nextail is now one of only three Spanish companies ever selected since WEF began the Technology Pioneers initiative in 2000, and the first to have been selected in the last 15 years.

“Nextail is a brilliant example of the high caliber of the Spanish startup ecosystem,” said Jordi Viñas. General Partner, at Nauta Capital. “At Nauta we support great teams as they tackle the biggest challenges in their industries. Nextail combines technology and talent to address a key need in online and offline retail: better alignment of supply and demand supported by more sustainable supply chain models.”

Nextail will contribute to the definition of the global agenda

Improving how retailers match supply and demand will become even more important post-COVID-19, now that decision makers have seen the limitations of legacy tech and operating models for predicting demand and allocating resources.

As part of the Technology Pioneer community, Joaquin will be invited to participate at WEF activities, events and discussions throughout the year. Nextail will also contribute to Forum initiatives over the next two years, working with policymakers and private sector leaders to help define the global agenda on key issues.

Technology Pioneers community is an integral part of the larger Global Innovators Community is a group of the world’s most promising start-ups and scale-ups that are at the forefront of technological and business model innovation. The World Economic Forum provides the Global Innovators Community with a platform to engage with public- and private-sector leaders and to contribute new solutions to overcome current crises and build future resiliency.

Companies who are invited to become Global Innovators will engage with one or more of the Forum’s Platforms, as relevant, to help define the global agenda on key issues.

Learn about how Swedish womenswear retailer Gina Tricot is making gains on their sustainability goals by working with Nextail.