2022/09/26

• UPSTAGE, FASHION TECH COMPANY CO., LTD. SIGNS 'PRODUCT RECOMMENDATION AI SOLUTION' AGREEMENT WITH BRANDI

• UTILIZING THE AI TECHNOLOGY OF UPSTAGE, WE PROVIDE BRANDI'S FASHION APP WITH A HYPER-PERSONALIZED RECOMMENDATION SOLUTION THAT REFLECTS CUSTOMER TASTE

• “WE WILL LOWER THE BARRIERS TO AI APPLICATION FOR VARIOUS ENTERPRISE CUSTOMERS AND HELP CUSTOMERS FOCUS ON CORE SERVICES”

(Upstage=2022/9/26) Upstage, a startup representing domestic AI, will challenge the hyper-personalization of commerce by providing 'brandi' with AI to recommend customers' tastes.

Upstage (CEO Kim Sung-hun, www.upstage.ai) announced on 26 March that it has signed a "contract for the introduction and use of brandi recommendation services" with Brandi Co., Ltd. Through this agreement, Upstage will promote the provision of ultra-personalized product recommendation solutions for customers using vertical commerce platforms such as the women's fashion shopping app 'Brandi' and the men's shopping app 'Hiver' operated by Brandi Co., Ltd.

RECENTLY, FASHION COMMERCE PLATFORMS ARE ALSO FOCUSING ON IT, AND 'FASHION TECH' IS EVOLVING. IN THE PAST TWO YEARS, THE WORLD HAS RAPIDLY CHANGED FROM OFFLINE TO ONLINE, AND THE DIGITAL INNOVATION OF COMMERCE PLATFORMS HAS ACCELERATED.

IN PARTICULAR, THE IT INFRASTRUCTURE OF THE FASHION PLATFORM BECOMES AN IMPORTANT BASIS FOR SELLERS, ANOTHER CUSTOMER OF THE PLATFORM, TO DISCOVER AND SELL GOOD PRODUCTS. THEREFORE, PERSONALIZED AI RECOMMENDATION TECHNOLOGY THAT ANALYZES CUSTOMER PREFERENCES AND HELPS DECISION-MAKING IS BECOMING AN ESSENTIAL ELEMENT FOR PLATFORM GROWTH.

Upstage plans to provide brandi with an AI solution based on its technological strength, which has been confirmed by the International AI Conference, including NeurlPS, AAAI, ACL and EMNLP, who have published a number of outstanding papers and won the first double-digit gold medal for a domestic company. 

THE PERFORMANCE OF UPSTAGE'S RECOMMENDATION AI WAS ONCE AGAIN PROVEN DURING THE VERIFICATION PROCESS WITH BRANDY. IN VARIOUS INDICATORS SUCH AS CLICK RATE AND TRANSACTION CONVERSION RATE RELATED TO SALES, UPSTAGE'S RECOMMENDATION AI PERFORMANCE PRODUCED MORE THAN 1.5 TIMES BETTER RESULTS THAN GLOBAL COMPANY A'S RECOMMENDATION SOLUTION. UPSTAGE SAID THAT THE RECOMMENDED AI TEAM WITHIN THE COMPANY, THE CHALLENGE TEAM FOR THE KAGGLE COMPETITION, AND THE HONG KONG GLOBAL RESIDENCY TEAM WERE EACH ABLE TO BUILD VARIOUS AI MODELS AND ACHIEVE OPTIMAL PERFORMANCE THROUGH COMPETITIVE COMPARISON.

THE RECOMMENDATION AI SOLUTION PROVIDED BY UPSTAGE WILL ANALYZE THE TASTES AND PRODUCTS OF EACH CUSTOMER BASED ON THE RICH DATA OF THE DOMESTIC REPRESENTATIVE WOMEN'S FASHION SHOPPING APP 'BRANDI', WHICH HAS REACHED 20 MILLION APP DOWNLOADS, AND CONTRIBUTE TO THE ULTRA-PERSONALIZED PRODUCT RECOMMENDATIONS FROM THE FIRST PAGE OF THE APP. UPSTAGE WILL ALSO STRIVE TO CONTINUOUSLY IMPROVE MODEL PERFORMANCE THROUGH INDICATOR MONITORING, UTILIZING AI-BASED ANALYSIS TOOLS.

Brandi Co., Ltd. is a leading fashion commerce company in Korea, starting with the women's fashion shopping app 'Brandi' and operating specialized vertical commerce platforms such as the men's shopping app 'Hiver' and the brand fashion platform 'Seoul Store', which surpassed 1 trillion won in cumulative transaction value in November last year. Based on platform technology and full-fillment competitiveness, the company has attracted more than 150 billion won in cumulative investments, and is expanding its influence in the commerce market by leading the digital transformation of the Dongdaemun ecosystem.

Upstage's 'Recommended AI' technology has also been proven globally. Last May, Upstage won a silver medal in the "H&M Personalized Fashion Recommendations" competition organized by global SPA brand H&M with a score of just 0.004 and 0.007 points from the 1st place. In February, Upstage gained attention at The Web Conference 2022, the world's most prestigious international conference in the field of information technology, when it published a paper on the key technologies recommended for personalized learning using deep learning technology. 

With this contract, Upstage's Seargest (search+suggest / search recommendation) AI technology introduction case is expected to be expanded to a commerce platform. Seargest AI is attracting attention as a technology that applies all of the functions to find and recommend products or contents with AI based on personal data and tastes. Upstage has developed a no-code-based 'AI pack' and signed contracts with LG U+, Amorepacific, and Glorang, and is collaborating with them.

"WE ARE PLEASED TO PROVIDE THE KOREA'S LEADING WOMEN'S FASHION COMMERCE BRANDI WITH A HYPER-PERSONALIZED RECOMMENDATION AI SOLUTION BASED ON CUSTOMER TASTE," SAID KIM SUNG-HUN, PRESIDENT OF UPSTAGE, "UPSTAGE WILL LOWER THE BARRIERS TO AI APPLICATION FOR VARIOUS ENTERPRISE CUSTOMERS WHO WANT TO USE SERVEST TECHNOLOGY THROUGH AI PACKS, AND HELP CUSTOMERS FOCUS THEIR CAPABILITIES ON CORE SERVICES."

Meanwhile, Upstage will launch the 'Upstage AI Pack', a no-code low-code solution that helps customers to make a one-size-fits-all use of AI technologies, including OCR technology that allows them to extract and use the desired information from images, recommendation technology that takes into account customer information, product and service characteristics, and natural language processing search technology that enables meaning-based searches. The 'Upstage AI Pack' not only makes it easy to take advantage of data processing, AI modeling, and indicator management, but also supports continuous updates and makes it easy to use the latest AI technology at all times. 

Contact

Upstage | Geun-Kyo Kim, PR Director | 010-8229-7240 | keunkyo@upstage.ai

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