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Myntra acquires 'FITIQUETTE'

Bangalore, April 6, 2013, DHNS:
Myntra, India’s largest e-commerce platform for fashion and lifestyle products, on Friday announced the acquisition of San Francisco-based FITIQUETTE, a technology solution which is a unique virtual fitting room, for an undisclosed amount.

“FITIQUETTE’s technology innovation aims at solving size and fit issues for online shoppers. This acquisition will strengthen and expand Myntra’s technology platform and drive transformational change in the online shopping space in India by providing a world-class experience to its customers,” Myntra said.

Financial terms of the deal were not disclosed, except to note that the acquisition was part cash, part stock.

FITIQUETTE is the first virtual dressing room of its kind globally, enabling online shoppers to virtually ‘try before they buy’, providing an online shopping experience which is very similar to the offline model.

Myntra CEO and Co-founder Mukesh Bansal said, “Myntra aims to create the most compelling fashion shopping experience for Indian consumers at par or better than global standards. 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 addition of top tech talent from FITIQUETTE.”

 

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