Rakuten has owned Fits.me, a startup developing ‘virtual fitting rooms’. This is its fresh foray in to fashion space and bid to expand its holdings. It has already giving tough competition to Amazon in e-commerce investments and operations stretching from Digital media e-commerce marketplaces.
The startup founded in Estonia and is based in London offer this novel solutions through two way technology allowing on-line buyers who are unable to try the physical items and can see about interests and preferences of visitors who visit to their sites.
Rakuten plans to allow this Fits.me as standalone business where it will be used to continue their technology, its business and working with existing clients.
This includes Thomas Pink, QVC home shopping channel and Hugo Boss. James Gambrell will, continue as CEO of 65 person Company and has Heikki Haldre and Paul Pallin as an active employees. It has been on an investment and buying spree in recent quarters $530 million fund round for Lyft in March and in June it unveiled a share offering to secure $1.5 billion to finance some of its activity.
Fits .me will be working with Rakuten. No specific details on how but it is very active in number of areas where they can see as a good fit.
“Fits.me represents both the fun and functionality of shopping on-line and is a natural complement to our growing portfolio of e-commerce and marketing services,” said Rakuten’s CEO and founder Hiroshi Mikitani in a statement. “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.”