The NPD Group has made an equity investment in Stylitics, the supplier of consumer behavior and preference data to fashion retailers and brands.
This story first appeared in the March 11, 2014 issue of WWD. Subscribe Today.
NPD will be the majority investor in Stylitics’ third round of financing. Other details of the transaction weren’t disclosed.
Rohan Deuskar and Zach Davis, who founded the company in 2011 and serve as chief executive officer and chief marketing officer of the firm, respectively, remain its two largest shareholders and retain the majority of the company’s equity.
Don Unser, group president of cross practices at NPD, will join Stylitics’ board, increasing its size to five.
Stylitics currently works with more than 1,200 retailers who operate about 165,000 stores globally. Among other services, the company monitors e-mails sent to a brand’s customers by other marketers and promotions conducted by their competitors. The information is derived from digital closet apps downloaded by consumers and processed directly by Stylitics’ customers.
The new financing will be used to continue to develop the company’s insights and analytics platform.
“NPD is always on the lookout for innovative approaches to collecting consumer information to help our clients stay on top of rapidly evolving tastes and trends,” said Karyn Schoenbart, president and chief operating officer of NPD, who described Stylitics’ data as “additional insight, which complements our services and which we believe will inspire and empower decision-makers in new ways.”
Deuskar said of NPD, “Like us, they are thinking about how to optimize the modern retail environment as well as what will power the next evolution in retail.”