Rakuten acquires Fit.me

Japan's e-commerce giant Rakuten has acquired Fits.me, a tech startup for fit preference personalization. Fits.me will operate as a stand-alone business with Rakuten and continue to support retail clients such as Hugo Boss, Thomas Pink and QVC.

Since its inception in 2010, Fits.me has been a pioneer in fitting room technology for online shoppers. The virtual fitting rooms help shoppers to better understand how a brand will fit before making a purchase decision.

"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," said Rakuten founder and CEO Hiroshi Mikitani. "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 will continue to be run by CEO James Grambrell.

Rakuten's holdings range from e-commerce marketplaces to transport apps. This is the company's first fashion acquisition, according to TechCrunch. In March, the site led a $530 million round of funding for Lyft, the ride-share rival of Uber, and in June launched a share offering to raise $1.5 billion to help finance buying and investment activity.

For more:
-See this Rakuten press release
-See this TechCrunch article

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