Mango has invested in digital identity and virtual avatar creation platform Union Avatars as it continues “strengthening its commitment to technology” through its Mango StartUp Studio business accelerator programme.
Mango will offer financial investment to the Barcelona-based platform, which aims to help businesses “give form to the future of digital identity” through the use of tools that create avatars in different styles across social media, virtual-reality environments and gaming.
Union Avatars’ entrepreneurs will “learn first-hand about the operation of Mango” in a bid to scale up its business model, with a particular focus on market knowledge and technology.
Mango said in a statement that it will “continue to explore different pilot trials” of creating avatars that it plans to use across various points of the retailer’s value chain.
The announcement marks the Mango StartUp Studio accelerator’s fourth investment since its launch last year.
The accelerator has invested in sustainability start-up Recovo, on-demand salary and flexible remuneration business Payflow and most recently Spanish clothing and accessories rental platform La Más Mona.
Mango said its search for investments through the accelerator includes eyeing companies that are at the development stage with the business “in order to make seed-capital investments that contribute innovation to the fashion industry value chain”.
Mango also emphasised the importance of investing in businesses prioritising technology and sustainability as well as focusing on improving customer experience.
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