TOKYO — Japanese e-commerce giant Rakuten said Monday it has bought 100 percent of virtual fit technology company Fits.me.
The Japanese company did not disclose the terms of the deal.
“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,” Rakuten founder and chief executive officer Hiroshi Mikitani said. “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.”
Fits.me was founded in 2010 in Estonia by Heikki Haldre and Paul Pällin. Its backers include Conor Venture Partners, Entrepreneur’s Fund, Smartcap, Contour Venture Partners and Primary Venture Partners as well as ceo James B. Gambrell.
“[Fits.me] also provides valuable insights to brands as they aim to better understand their customers, reduce the number of product returns, and enhance loyalty,” Rakuten said.