Fits.me is a London based Estonian start-up. Fits.me was created with a vision to
reinvent the wheel of online clothing retail, by making it easier for buyers to
figure out what actually fits them before clicking to purchase apparel. Fits.me works as a virtual reality fitting system, where users are required to enter a set of their body
measurements in order to pull up the correct images from Fits.me’s database,
giving the user the ability to confirm, without ever stepping in store, that
the clothing item to be purchased would be a perfect fit. The images are created by robotic mannequins that expand or contract to give thousands of body dimension permutations.
The company
has been successful in acquiring several major customers for its clothing fit
services. SaaS recommendation to date include Adidas, Avenue32, Barbour By
Mail, Boden, Ermenegildo Zegna, Hawes & Curtis, Henri Lloyd, Hugo Boss,
John Smedley, L.K.Bennett, Mexx, Nicole Farhi, Otto, Pretty Green, Superdry,
Thomas Pink and a host of others.
On the 13th of
July 2015, Rakuten, a foremost Japanese e-commerce and e-finance group
announced 100% stake acquisition of Fits.me. Prior to the acquisition, Fits.me which
was founded in 2010, had already realised $14.3 million in three rounds of funding:
● Seed: Sept 22,
2010 (USD 1.8M) - Estonia Development funds.
● Series A:
April 17, 2013 (USD 7.2M) - (Cornor Ventures, Entrepreneurs Funds, Fostergate
Holdings, SmartCap AS).
● Series B: Oct
13, 2014 (USD 5.3M) - (Entrepreneurs Fund, SmartCap AS, James B Gambrell).
Initially,
Rakuten was approached to make an investment in Fits.me, however, the Japanese
company decided instead to make an outright offer for the company. Fits.me
agreed to this proposal because, in the words of the CEO of Fits.me, James B.
Gambrell, “It is the right partner.
Rakuten is on the look out for ways to be creative to achieve success. We help
connect the dots by providing value to different parts of the organization.”
Amoo Venture Capital Advisory (Amoo) is privileged to have been able to contribute to
Fits.me’s market domination by providing operations support, mentorship
and strategic guidance in 2010 - yet another success story. This led to Amoo receiving a letter of recommendation from the Estonian House of Parliament, for its contribution to the Estonian startup scene. As they say in Estonia, Palju õnne!
This article gives the light in which we can observe the reality. This is very nice one and gives indepth information. Thanks for this nice article. If you are looking for the best Things to do around the world, this list has something for everybody from food to history and culture.
ReplyDeleteIf you are having any trouble in finding your required dimensions and styles so, visiy our site on custom box printing. We will design boxes with your company’s logo complying with your needs. With multiple add-ons and furnishing choices, you can easily make your custom boxes worth noticing.
ReplyDeleteImmigration to Europe - Travel the Schengen area, do business in the European Union, live in Latvia.
ReplyDeleteNow it is all possible through the process of immigration to Europe. http://www.immigration-residency.eu/
bespoke packaging boxes uk At Bespoke Packaging UK we strongly believe in the interests of bespoke packaging, which has multiple benefits.
ReplyDeleteGreat post, very nice content. Look forward for more articles like this. Get quality bespoke packaging boxes printing wholesale printed boxes for other CBD products and more for any product you need.cosmetic boxes | cosmetic boxes
ReplyDeleteI always search for the content that is written by you because you always provide authentic information in your writing. Nothing is more amazing than articles that attract and impress readers. You share your amazing thoughts, and your readers also love to give a positive response to it, that’s all. Keep it up. da vinci robotic surgery
ReplyDeleteThe objective of this section of our website is to advise potential clients for bank account opening. Baltic Legal is an international corporate offshore and trust services provider. However, a significant portion of companies and trusts we administer establish accounts with international and offshore banks rather than domestic banks. For more information on offshore businesses please visit the offshore services page. https://www.baltic-legal.com/banking-in-latvia-eng.htm
ReplyDelete