Innovation is critical to staying competitive in rapidly changing markets. In pursuing a culture of experimentation, we incubate new ideas and capabilities that manifest in real-world experiments and ultimately shape the future of our industry.
Though Fung Group companies may have strong spirits of entrepreneurship and innovation in their DNA, current markets call for more and we are not standing still. The Fung Academy and Explorium provide our companies with additional support to promote creative confidence, catalyze innovation, and bridge the gap from idea to application.
Explorium is Fung Group’s innovation hub, supporting communities of practitioners, start-ups, strategists and NGOs to explore and co-create the future of supply chain, retail and consumption. Through dedicated hubs in Hong Kong and Shanghai, the Explorium enables the Fung Group and its companies to tap into two of Asia’s thriving ecosystems in the Greater Bay Area and Shanghai.
At the Explorium, we are cultivating a community of industry practitioners, startups, entrepreneurs, and innovators who are actively exploring and shaping the future of supply chain and retail. We regularly convene our community to develop community-driven insights pointing to new business opportunities, novel ways of working, and relevant professional connections, broadening the perspectives on a wide variety of subjects around the Group’s industry.
Through our tools and programs, we develop talent and build innovation capabilities inside the Fung Group and its partners and nurture a culture of open innovation and collaboration. We coach teams to discover user insights through ethnographic research and use methodologies like Lean Startup and Rapid Prototyping to pilot and launch new initiatives.
Cobalt redefines knitwear with new CS Innovation Lab
Cobalt Fashion launched its CS Innovation Lab with Shima Seiki, the Japanese company behind the world’s most advanced computerized flat knitting machines, to undertake specialized materials R&D. The Lab allows us to collaborate on areas such as 3D and virtual design capabilities and driving efficiency gains in design-to-production – all to discover the ideas, technologies and solutions needed to produce better materials and knitwear for our customers.