Asos partners with Israeli innovation hub Re:Tech to scout local e-commerce and fintech startups

UK-based Asos has just announced a partnership with Re:Tech, an Israeli innovation hub, to scout local e-commerce, adtech, and fintech technologies.

Re:Tech is a retail-oriented hub founded in 2017 by Yael Kochman and Alla Foht and Based in Tel Aviv which focus on connecting startups developing e-commerce, adtech, fintech, and fashion-related technologies with interested companies.

“Israel is renowned for its cutting-edge tech startups, many of which are developing solutions across retail, fashion and e-commerce,” Cliff Cohen, chief information officer at Asos, said in a statement. “With Re:Tech’s help, we’ll be able to plug into this thinking to solve challenges and potentially foster long-term partnerships.”

As part of the partnership, Re:Tech will manage a number of development labs and events designed to bring together Asos representatives and local startups, explained both companies in a statement. The first event is set to take place in Tel-Aviv on June 19.

This is the second big collaboration of Asos with an Israeli company, after launching a joint venture last April with Israeli fashion startup Zeekit Online Shopping Ltd. As part of the collaboration, Zeekit’s virtual fitting room technology was integrated into a new feature in Asos’ clothing app, which simulates how a certain item looks on different body types.