Stylitics, a New York-based provider of AI-powered digital merchandising and styling technology, acquired Wide Eyes, a Barcelona, Spain-based provider of visual AI solutions for fashion and retail.
The amount of the deal was not disclosed.
With the acquisition, Stylitics will expand presence in Europe and the UK, adding local teams in Spain to service growth with retail industry clients across the EU. Wide Eyes team of engineers and customer success professionals in Spain will join Stylitics. Chief Executive Officer and Co-Founder, Luis Manent and other key executives will join the Stylitics leadership team.
Wide Eyes provides a technology platform to make all visual content shoppable enabling visual search and image-based shopping on the front-end, while expanding computer vision-driven product attribution and data enrichment on the back-end. Founded in 2013, Wide Eyes is integrated with retailers in more than 100 countries, with millions of unique users per day. Wide Eyes clients include the largest global retailers based in Spain and throughout the EU.
Stylitics is an AI-powered software platform that delivers automated styling and bundling solutions for global retailers. Its software platform combines proprietary algorithms, trend data, and visual image capability to deliver millions of elevated shopper experiences and personalized recommendations across e-commerce, mobile, email, advertising, in-store, and social channels. The customer experience drives value for brands with measurable improvements in shopper engagement, average order value, share of wallet, inventory optimization, and conversion.
To date, Stylitics has driven more than $4 billion in incremental revenue for its customers with 200 million plus additional units sold from more than 4,500 brands and retailers including global fashion, apparel, footwear, accessories, and home furnishings brands, including Macy’s, Kohl’s, Room & Board, Revolve, Puma and others.
FinSMEs
12/07/2023