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French retailer opens start-up competition with U.S. tech accelerator
Galeries Lafayette Group is the latest retail entity to launch its own tech accelerator program.
The French specialty retail conglomerate, which operates the Galeries Lafayette, BHV Marais, Royal Quartz, Louis Pion and Didier Guérin banners, is partnering with Silicon Valley-based technology accelerator and venture fund Plug and Play in the effort. The three-month program aims to develop an integrated platform to assist startups focused on the fashion and retail sectors. It will include access to venture capitalists, mentors, and Fortune 500 companies.
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Survey: A good fit makes all the difference
Incorrect fit is costing retailers billions of dollars — literally.
In 2015, $62.4 billion worth of global apparel and footwear purchases were returned due to incorrect sizing, according to a survey by digital body analysis technology provider Body Labs.
The survey found that that 23% of all clothing gets returned, with 64% of respondents claiming “incorrect fit” as the major reason for the return. And 77% of respondents who prefer shopping online stated that poor fit is the biggest reason for returning clothing.

