Source: Harpers Bazaar, Feb 2012
HB: Tell me a little bit about the technology behind Feyt. EY: It’s similar to a Netflix or Pandora in that it’s a user data driven site. We’re going to launch in stages to get to a place where we have guest stylist curators and the social media aspect up and running and get the algorithm in place.
FT: And that’s when people will start actually getting customized recommendations.
EY: The other exciting feature is that once the algorithm is in place, we’re also going to offer features like wardrobe planning where you can put in a budget for a seasonal buy. We’ll take into account your personal profile, which has your style, body-type, lifestyle, etc. Feyt will even do suitcase packing for you.
HB: How do you think that this will change how people shop online?
FT: Most of these websites are search based and we’re trying to move towards more suggestion-based purchases. So, we really think that we can monetize that and hopefully it can really change the way people shop because it’s not really offered right now.
EY: Many social shopping sites that have emerged mainly rely more on user-to-user recommendations and interface, whereas Feyt is more about expert styling advice and recommendations.