London College of Fashion partners with Klarna

European payments provider Klarna has announced a UK partnership with the London College of Fashion (LCF) to support the next generation of fashion tech innovators.

The partnership with see Klarna joining forces with the Digital Anthropology Lab at London College of Fashion, which is one of the UK’s foremost research hubs dedicated to making smarter technology for a better human experience, to support and tap into the visions of future fashion tech talent.

The industry disruptor will work closely with selected students, which are all undertaking Masters studies at LCF, who will work in teams to devise innovative solutions to some of the biggest challenges facing fashion retailers, such as personalisation, sustainability, issues in the supply chain and 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 then 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 added: “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.”

Klarna works with 89,000 merchants, including ASOS, Topshop, Arcadia Group and JD Sports in the UK, and offers payment solutions to more than 60 million users in Europe and North America.

The partnership has come together following Klarna’s research that reveals that fashion is now the UK’s largest online retail market segment, worth around 10.1 billion pounds, and this growth is only set to continue. By 2020, fashion will represent 28.8 percent of UK online spend. With Klarna adding that 94 percent of retailers are investing in new technology to meet the needs of younger customers, opportunity for innovation in the sector has never been greater.