FOGI Splits IFDAQ from the Group to Serve as a NGO


London, UK -- (SBWIRE) -- 06/11/2013 -- The Fashion One Group Int’l has announced a full detachment of its promising and innovative digital automated quotation system “IFDAQ”.

Chief Development Officer Daryl de Jorí confirmed that the current development and the upcoming beta release require a new structure, to guarantee an objective and transparent project.

He continued: “To avoid potential problems concerning neutralism, the lFDAQ will be executed as a stand-alone project and consequently, we decided to unlink FMD (The Fashion Model Directory – ), FOGI’s flagship, and the IFDAQ. Therefore, we believe that the project needs an independent development. This could result in a governmental backed solution as NGO or in a simplified industry based NPO.”

FOGI sees this step as a chance to be the initiator of a unique and huge step to regulate the fashion and modeling industry through a digital and automated quotation system.

On the other hand, FOGI introduced the German scientist Reimund Homann as the new scientific head for the algorithmic progress. Mr Homann has been chosen for this position after evaluating his previous scientific and mathematical publications on the modeling industry. Furthermore, Mr Homann is not only a renowned lecturer at several universities, but also the author of several books which fit the substance of the IFDAQ. The CDO stated: “We also want to open the IFDAQ to the scientific world. Mr Homann is an enrichment for the project and we are sure that our project-partner EDAQS, who will continue to manage the IFDAQ, enjoys the now given scientific background for a successful completion.”

The IFDAQ is being developed since 2008 by FOGI in cooperation with EDAQS, for FOGI’s flagship FMD. The sum of investments for the development, which is a confirmed six-digit number, will be counterbalanced with an agreement that assigns FMD the exclusive rights to use the real-time data for an undisclosed period. FMD will continue to deliver statistics from the professional fashion industry to the digital automated quotation system.

Reaching almost 2 million readers per month, FMD is a worldwide known brand and turned into an influential fashion publication, which is not only a popular platform within the industry and fashion creatives, but also a daily stop for umpteen of fashion lovers. As an outstanding and influential industry resource, FMD has been an useful tool for numerous agents, models, editors, designers, brands, photographers and decision makers in the past, and is constantly developing and extending its features and functions to simplify research and development with its over 2M content pages.

EDAQS is the initiator and inventor of the IFDAQ, a digital automated quotation system (DAQ) that was used as a prototype for succeeding DAQs, and is cooperating with several governments and major institutes. Among others, the EDAQS scientists are currently developing the IRDAQ II, a financial instrument for the public sector which will support the stability of financial markets by a clearly defined and fully transparent algorithm.

Reimund Homann is a well-known lecturer at several german universities. He specializes in economics, mathematics and the application of statistical methods on the modelling industry. He became known to a wider audience through his research on TV-model-castings. His prior publications include several books on mathematics as well as a monograph on the privatization of military services. In addition he is the editor of a series of books on applied sciences.