Fashion data app Margin Guardian gets new six-figure funding
A data insights specialist that helps fashion retailers make pricing strategy decisions has won a cash injection via the UK’s Northern Powerhouse Fund.
The “six-figure” funding comes from Maven Equity Finance and has allowed Liverpool-based Margin Guardian to add 10 more jobs and will help it develop an Android version of its app to add to the iOS one. It will also provide cash for marketing activities.
The platform offers data insights directly from the consumer, including around price, and products viewed and saved. That means fashion retailers are better armed to decide about markdowns rather than making decisions blindly.
The data comes from the consumer Squished app that the firm operates and that allows shoppers to browse, track and monitor fashion items from multiple sources in one place.
It’s technology that has become far more sophisticated in recent years and that retailers are increasingly keen to make use of as it can feed into both current and future pricing and discount strategies.
The company was founded only three years ago by Richard Blanchard, Stephen Goodheart and Stewart Cox, who had senior level commercial and technical expertise via working at retailers including Matalan and Harvey Nichols.
CEO Blanchard said: “We believe retailers increasingly need advanced data insight to maintain competitiveness and profit. Our unique purchase intent data will allow them to do just that.”
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