31 January 2018 – Today, leading European payments provider, Klarna, has announced a UK partnership with London College of Fashion, UAL, in an exciting initiative to support the next generation of talent at the intersection of fashion and technology.
Fashion is now the UK’s largest online retail market segment, worth around £10.1bn, and this growth is only set to continue. By 2020, fashion will represent 28.8% of UK online spend.
With Klarna research* showing 94% of retailers are investing in new technology to meet the needs of younger customers, opportunity for innovation in the sector has never been greater.
To support and tap into the visions of future fashion tech talent, Klarna is proud to join forces with one of the UK’s foremost research hubs in the sector – the Digital Anthropology Lab at London College of Fashion, UAL (LCF). The partnership will see the industry disruptor work closely with the brightest young minds in the business, to offer retailers an unprecedented glimpse into the future of fashion technology.
The students, all undertaking Masters studies at LCF, have secured coveted spots on the programme, in which they’ll work in teams to devise innovative solutions to some of the biggest challenges facing fashion retailers.
From personalisation to sustainability, supply chain to brand experience, Klarna will support students as they work with a team of experienced designers, educators and technologists at LCF to develop a conceptual response to an issue. Students will share their progress in a series of blogs before unveiling their final projects in an end-of-term showcase.
Luke Griffiths, UK General Manager of Klarna, said: “We understand the power of technology in unlocking innovation across every industry. That’s why we’re proud to be partnering with LCF on this exciting project to help the next generation of fashion tech innovators realise their potential.
Wojtek Tusz, LCF Project Lead and Acting Director of the Digital Anthropology Lab commented: “The convergence of fashion and technology has the power to drive change, build a sustainable future and dramatically improve people’s lives. This partnership is a brilliant opportunity for our students to work with an industry innovator like Klarna and explore new frontiers in fashion tech.”
For more information about Klarna’s corporate social responsibility programme, visit https://www.klarna.com/uk/csr
Notes to editors
* UK analyst house Ovum was commissioned by Klarna in February 2017 to undertake a study with 100 UK merchants investigating the state of online commerce to better understand how the industry perceives its own challenges in 2017 and into 2018.
It’s all about smoooth (yes, with 3 ooo’s). Klarna is Europe’s leading payments provider and a newly-licensed bank, which wants to revolutionise the payment experience for shoppers and merchants alike. Founded in Stockholm, Sweden, in 2005, the fintech unicorn gives online consumers the option to pay now, pay later or over time – offering a trusted, frictionless and smoooth checkout experience.
Klarna now works with 70,000 merchants to offer payment solutions to more than 60 million users in Europe and North America. Klarna has 1,500 employees and is active in 14 countries.
About the Digital Anthropology Lab at London College of Fashion, UAL
The Digital Anthropology Lab at London College of Fashion, University of the Arts London, is an emerging research centre dedicated to making smarter technology for a better human experience. The DALab works across industry and academia through the lens of fashion and tech delivering cutting edge research and development projects at the intersection of technology and human behaviour.
For more information please contact: firstname.lastname@example.org
Laura Eagar/Anna Lewis, 020 3657 7845