The company announced on Thursday that it had acquired the remaining stake in FNX Technologies, a North American-based apparel 3D rendering automation startup led by experts with experience in the visual FX and animation industry. The move completes the transaction that began in 2019 when Li & Fung’s corporate development team invested in the startup, recognizing the importance of 3D for the fashion industry to accelerate speed to market, reduce waste and help brands remain relevant to consumers.
“3D is the first step toward digital transformation for the fashion supply chain,” Ed Lam, CEO of LFX, said. “However, if companies are going to keep up with the ever-changing consumers tastes and scale up their digital product creation to showcase products digitally, they’re going to need to automate 3D image generation and do it at dramatically faster rates. FNX has proven it can solve the use of 3D at scale for the media industry and we know they can do the same for the consumer goods industry.”
Levering its experience in film and animation to render and deliver 20,000 photorealistic images in less than four weeks, FNX’s automated rendering technology supports multiple formats and integrates with product development tools. Using FNX, cinematic-quality digital assets can be produced for use throughout the entire product development journey, from prototyping, digital fitting, visualizing store layout and merchandising to direct display on e-commerce and social sites.
For brands, this means a dramatic leap in productivity and creative freedom as they reclaim hundreds of hours and get to market in record time. Producing fewer prototypes means dramatically reducing waste and cost.
Following the completion of the transaction, the team from FNX Technologies will join LFX, enhancing its ability to help brands transition to Digital Product Creation & Commerce (DPCC) and augment the team at UNIFi3D, LFX’s newly formed 3D-as-a-Service company.
Founder and CEO of FNX Technologies, Darcy Reno, will assume the role of chief technology officer of DPCC for LFX.
“By joining LFX, we can combine our knowledge, experience and resources in 3D digital product developments at scale, making it easier for us to help brands and retailers master 3D and transition to digital product creation and commerce at the necessary scale,” Reno said.
LFX is an incubation, investment and operating platform creating digital ventures that transform the supply chain and retail industry through its innovative digital solutions and services. As an offshoot of Li & Fung, LFX is building an ecosystem of entrepreneurs, technologists and partners who are passionate about digitalizing the supply chain and sustainable consumption.
A fashion digital transformation company, UNIFi3D is the first company to emerge from LFX. A 3D-as-a-Service company, UNIFi3D, provides digital product creation and commerce.