Japanese ecommerce company Rakuten has acquired 100 per cent stake in fit preference specialist Fits.me.
Rakuten expects Fits.me to further strengthen its e-commerce offerings by providing a greater personalisation of the retail experience for shoppers while driving operational insights and efficiencies for retailers.
“Fits.me will operate as a stand-alone business within Rakuten, Inc. and continue to support and grow current and future clients,” a Fits.me press release said.
Since its founding in 2010, Fits.me said its pioneering virtual fitting room technology has been changing how top brands, such as Thomas Pink, QVC and Pretty Green sell clothing online.
The virtual fitting room helps shoppers better understand what clothes fit and suit them before they make purchase decisions.
It also provides valuable insights to brands as they aim to better understand their customers, reduce the number of product returns, and enhance loyalty.
“Fits.me represents both the fun and functionality of shopping online and is a natural complement to our growing portfolio of e-commerce and marketing services,” Rakuten founder Hiroshi Mikitani said.
“Not only does the virtual fitting room provide customers with a more realistic shopping experience, it also empowers merchants with the valuable data they need to continually improve their service,” Fits.me CEO James Gambrell said.
“Rakuten built its business by empowering merchants and brands to deliver authentic and engaging shopping experiences, which is exactly the vision of Fits.me,” Gambrell added.
“We are excited to join Rakuten, with its leading e-commerce marketplaces, as we build out our ambitious product plans and accelerate our planned growth,” he observed.
Fits.me was founded in Estonia by Heikki Haldre and Paul Pällin and backed by several institutional and angel investors including James Gambrell and several angel investors.
Rakuten is a leading Internet companies, offering a wide variety of services for consumers and businesses with a focus on e-commerce, finance, and digital content.
Since 2012, Rakuten has been ranked among the world’s ‘Top 20 Most Innovative Companies’ in Forbes magazine’s annual list.
Rakuten is expanding worldwide and currently operates throughout Asia, Europe, the Americas and Oceania and has nearly 12,000 employees worldwide.
Fits.me employs over 60 operations and commercial staff in London, New York, and at three sites in Estonia, which provide its development, research and support operations. (AR)
Fibre2Fashion News Desk - India