Online fashion and lifestyle products retailer Myntra has acquired San Francisco, the US-based technology platform provider Fitiquette for an undisclosed sum.
Online fashion and lifestyle products retailer Myntra has acquired San Francisco, the US-based technology platform provider Fitiquette for an undisclosed sum.
In a statement release by the company, it said, “This acquisition will strengthen and expand Myntra’s technology platform and drive transformational change in online shopping space in India by providing world-class experience to its customers.”
Fitiquette’s technology innovation aims at solving size and fit issues for online shoppers.
“The acquisition was part cash, part stock,’’ the company said without disclosing the financial details of the deal.
“Fitiquette has developed pioneering technology for solving the Fit/Size problem online. This acquisition will not only help us improve the experience significantly, but will also enhance our technology team with the addition of top tech talent from Fitiquette,” said Mukesh Bansal, CEO & Founder, Myntra.
The virtual dressing room developed by Fitiquette generates a virtual mannequin based on various body types to which users can adjust each specific measurement according to their body until it closely mirrors their own, the company said, adding that the technology enabled online shoppers to virtually “try before they buy’’.
Fitiquette CEO and co-founder Andy Pandharikar said the acquisition will benefit Myntra’s vision of providing world-class solutions to online shoppers across the country.
The Fitiquette team will be joining Myntra with Andy heading Myntra’s newly formed Innovation Labs in San Francisco, the company stated.
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