Markmi raises €1.1M in seed funding to enhance its AI-powered markdown assistant, targeting fashion retailers across Europe and the U.S. for smarter pricing strategies.
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| Markmi, a Belgian fashion tech startup, raises €1.1M to accelerate its AI-powered markdown assistant expansion across Europe and the U.S., aiding retailers in pricing strategies. Image: Markmi/ CH |
Ghent, Belgium — April 2, 2025:
GHENT, Belgium, April 2, 2025 — Markmi, a fashion tech startup, has successfully raised €1.1 million in seed funding to accelerate the expansion of its AI-driven markdown assistant across Belgium, the Netherlands, the Nordics, and the U.S. later this year. This funding round aims to help fashion retailers optimize their pricing strategies in the face of rising costs and shifting consumer behavior.
As the retail industry grapples with increasing pressure to protect profit margins, especially during markdown periods like mid-season sales and end-of-season clearances, many fashion brands still rely on spreadsheets and gut instincts. This often leads to missed opportunities for maximizing revenue and profitability. Markmi addresses these challenges by providing a smart, fast, and fashion-specific AI assistant that enables merchandising teams to make data-driven pricing decisions.
Markmi’s AI tool has already shown impressive results with major clients such as C&A, G-Star, Zizzi, ZEB, and Torfs, helping them achieve a 5-10% increase in revenue and 2-5% improvements in margins during markdowns. Markus Krenn, VP & Head of Commercial Planning Europe at C&A, shared, "Markdowns are one of the biggest cost lines in a fashion retailer's P&L. Markmi has significantly reduced this cost for us."
Founded by Laurent Mainil, a Belgian entrepreneur with deep roots in the fashion industry, Markmi emerged from firsthand experience during the pandemic. The company saw an opportunity to help retailers manage inventory and meet revenue targets under pressure. The AI tool can analyze multiple pricing scenarios in minutes, offering clear price recommendations based on their potential impact on sales, margin, and inventory.
One striking example of the tool’s power came from G-Star EU, where Markmi's AI assistant ran 14.5 million calculations for its inventory in just five days, enabling the team to select the most profitable pricing strategy almost instantly.
The €1.1 million seed funding round received backing from notable investors, including fashion and tech veterans such as Luc Van Mol (ex-ZEB), the Torfs family, and tech experts Lorenz Bogaert, Matthias Geeroms, Jan Teerlinck, Roeland Delrue, Jonas Deprez, and PMV.
Looking forward, Markmi plans to expand its capabilities, evolving into a comprehensive AI-powered pricing platform for fashion retail. The company intends to branch out into full-price optimization and promotional management, providing retailers with strategic pricing advantages in an increasingly competitive market.
"Retailers worldwide face the same challenge: setting the right price at the right time," said Laurent Mainil, founder of Markmi. "With AI, it's no longer a guessing game; it's a strategic advantage."