SMARTER FABRIC, SMARTER WORLD
Textiles make up the world around us, yet it's the plastic and metal objects in our world that have all the intelligence. Loomia has been built to bring value and innovation to soft goods and apparel through uniting electronics and textiles. At Loomia, we believe that creating new materials can give a huge economic boost to soft goods industriesby allowing companies to capture value for not just form, but also function.
Cientifica research predicts the smart apparel and e-textiles (electronic textiles) market to be $130B by 2025, sparking the 4th textile revolution. Figures aside, the apparel industry is starting to see that cheaper COGs is no longer the way to generate strong profits and create strong businesses. With prices having risen 400% in china over the past decade, companies are seeing that high margins are in innovation, not in cheaper product. The same tech-savvy millennial that buys a $10 t-shirt buys a $600 iPhone. Imagine if that t-shirt was as innovative and useful as the backlit screens we spend our income on? If the fashion industry could capture the same value as consumer electronics companies, it could create exciting opportunities for design professionals. In addition, many new industries need to start domestically. We're setting up supply chain along the east coast to make smart fabric- not because it's a good thing to do, but because it's the most practical thing for emerging tech. Overall, Loomia cares about smart apparel because it can help stimulate businesses, create opportunities for creatives, and create a strong opportunity for domestic manufacturing.