E-commerce site Farfetch has acquired the popular London shop Browns, with plans of outfitting the store with the latest experimental retail technology. Under its "Store of the Future" innovation division, the company plans to to turn Browns into a kind of retail laboratory for pioneering new shopping innovations.
Farfetch founder Jose Neves explains that he "doesn't want to change the DNA of Browns," but simply wants to bring the retail experience into the twenty-first-century. Some of the new technology that may be integrated into the store includes radio frequency identification (RFID) and near field communication (NFC) chips into clothing, mobile payment options and even programs that use artificial intelligence to predict what customers may purchase.
Farfetch is already famous for revolutionizing the online shopping experience, and its latest foray into contemporary retail technology may now help to transform brick-and-mortar fashion boutiques as well.
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