Taffi is Transforming How We Shop for Fashion, Thanks to Its Artificial Intelligence Feature 'Amira'
Taffi, a fashion-focused shopping platform powered by AI, is revolutionizing the shopping experience in the region. Established in 2021 by Shahad Geoffrey and Pradeep Bisht in Saudi Arabia, Taffi leverages cutting-edge technologies like machine learning, ChatGPT 4, and generative AI to deliver personalized styling recommendations to users, taking into account their preferences, dressing needs, and financial constraints.
Shahad Geoffrey, originally pursuing a career in finance, transitioned into entrepreneurship shortly after completing her studies at INSEEC in Paris. Her journey led her to Silicon Valley in 2019, where she participated in an entrepreneurship program at Draper University. Subsequently, she joined a venture capital firm in the United States, where she served as an investment analyst.
Talking to May El Habachi for StartupScene, Shahad Geoffrey, Founder and CEO of Taffi says, “My family came to visit all the way from Saudi and they wanted to go on a trip to Hawaii, so I had to pack and do all the shopping.”
“I didn’t have the time or the expertise back then, so I decided to look for a service," she adds. "I saw many companies solving this problem, and I was very inspired by them. At the same time, I learned that the industry is valued at over a billion dollars, and thought, why don’t we have anything similar in the region? Especially since the highest spending on fashion is in the GCC.”
In a recent report by Impactful Insights, it has been revealed that expenditures on luxury items in Saudi Arabia surged to a staggering $8.3 billion in 2022. Moreover, the report projects substantial growth, with anticipated figures skyrocketing to reach $15.8 billion by the year 2028.
In response to this flourishing market, Taffi is embarking on an ambitious expansion strategy, venturing into the realm of online retail across the region. Their expansion encompasses partnerships with renowned platforms including Zivel, Maison Orient, and Beyond Label. Furthermore, Taffi is committed to enhancing accessibility to personalized shopping experiences by extending its presence on third-party platforms such as WooCommerce and Weebly.
EMBRACING CHANGE
Although a young startup, Taffi had to pivot soon after launching. Starting out as an online platform that uses stylists to recommend looks for customers, the startup changed direction to target retailers after realising that it was increasing stores’ basket sizes and conversion rates. “While we were serving and selling on behalf of online stores, we saw that we increased their basket size by 66% and their conversion by almost seven times,” says Geoffrey.
Capitalising on this opportunity, Taffi changed its business model to B2B2C to work directly with retailers as a styling service. According to Geoffrey, Taffi offers a SaaS solution to retailers, enabling customers to use its styling widget in online stores to create customised looks and styles. “This way we’re adding business value to stores and solving the problem by distributing the solution to all e-commerce instead of creating a marketplace and solving it partially for the consumer,“ she adds.
To use the widget, customers need to create a one-time user profile, which can be used in all stores that adopt Taffi, to start receiving personalised styling recommendations.
INTRODUCING AMIRA
With AI making headwinds lately, it is no surprise that the startup is incorporating it in its business service. Through its latest AI feature, Amira, Taffi aims to revolutionise the online shopping experience by efficiently pulling up recommendations that align with customers’ styles and budgets.
“Amira basically uses ChatGPT, advanced machine-learning algorithms and generative AI,” explains Geoffrey. “Using these three together, it answers any questions about your fashion style, such as if you’re travelling, or if you have an occasion and want some outfit suggestions. Whatever it is, it can give you these recommendations from the store you’re shopping from.”
Amira, the latest innovation in the world of fashion technology, made its debut in June 2023. This cutting-edge platform boasts a seamless connection to the retailer's online inventory database, offering customers real-time visibility into store stock levels. Remarkably, Amira has already found its place in 15 prestigious online stores in both Saudi Arabia and Dubai, hinting at ambitious expansion plans that encompass major retailers throughout the MENA region.
At the heart of Amira's success lies its advanced AI feature, a revolutionary system that taps into a treasure trove of fashion expertise. Drawing insights from a staggering collection of over 20,000 curated looks by seasoned stylists over the years, this artificial intelligence marvel delves even deeper. It meticulously analyzes personal data, including physical attributes, lifestyle, occupation, and individual fashion preferences. Armed with this wealth of information, Amira goes above and beyond to provide customers with impeccably tailored fashion recommendations, ensuring a shopping experience that resonates with their unique needs and desires.
Taffi, a fashion startup, initially bootstrapped for a year before securing a $2 million seed round and is currently in the process of raising a bridge round. The company's focus is on expanding its presence in stores throughout Saudi Arabia and the MENA region.
Taffi's unique position as the first fashion company backed by a VC in Saudi Arabia, along with its access to the large fashion market in the region, has provided key advantages.
Additionally, the startup aims to achieve $4 million in Gross Merchandise Value (GMV) and $600,000 in revenue by the end of 2024, and it relies on its generated revenues to support its growth.
