E-Commerce company Rakuten has acquired Fits.me, a fit preference solution provider, to improve its e-commerce offerings and marketing solutions. Financial terms of the agreement have not been disclosed.
Since its inception in 2010, Fits.me has helped brands such as Thomas Pink and QVC provide more personalized shopping experiences by leveraging its virtual fitting room technology. Using the tool, consumers can better understand how specific brands and items will fit them, empowering them to make more informed purchase decisions.
“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,” said Hiroshi Mikitani, Founder and CEO of Rakuten. “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.”
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Fits.me will continue to act as a standalone business within Rakuten, and will continue to establish profitable relationships with current and future clients. However, Fits.me also will help Rakuten understand customer fit data and preferences.
“Many fashion retailers are still using basic segmentation techniques, but our fit preference insights help them deliver genuine personalization, which improves customer loyalty and lifetime value,” said James B. Gambrell, CEO of Fits.me. “We are excited to join Rakuten, with its leading e-commerce marketplaces and cutting edge marketing services platform Rakuten Marketing, as we build out our ambitious product plans and accelerate our planned growth in Europe, the U.S. and now Asia.”
