Deal Further Expands Stylitics’ Inspirational Commerce Platform and Augments Its Global Growth by Expanding Advanced Image Recognition and Attribution Capabilities
Stylitics, the category leader in AI-powered digital merchandising and styling technology, announced its acquisition of Barcelona-based Wide Eyes, one of the leading visual AI solutions for fashion and retail.
“I am very excited about the opportunities we now have as part of Stylitics to further advance our technology and bring next gen AI visual solutions to the best retailers in the world.”
Wide Eyes’ technology enhances Stylitics inspirational commerce platform with image recognition and artificial intelligence technology that drives easier product discovery and faster conversion. The platform was built to make all visual content shoppable enabling visual search and image-based shopping on the front-end, while expanding computer vision-driven product attribution and data enrichment on the back-end. This deal further expands Stylitics’ growing presence in Europe and the UK, adding local teams in Spain to service growth with retail industry clients across the EU.
“Wide Eyes’ AI systems and computer vision technology are based on several years of cutting-edge R&D, and are widely used by many of Europe’s top retailers,” said Rohan Deuskar, Founder and Chief Executive Officer, Stylitics. “We’re excited to bring these advanced capabilities and benefits to our retail customers and their shoppers, and look forward to sharing several feature expansions later this fall.”
To date, Stylitics has driven more than $4 billion in incremental revenue for its customers with 200 million plus additional units sold from more than 4,500 brands and retailers. The platform includes the leading solution to build outfits and product bundling at scale in over 50 billion shopper sessions a year, resulting in increased product discovery and basket size, with an average 23% increase in units per transaction and a 21% increase in average order value for its partner brands and retailers.
Stylitics also announced that the Wide Eyes highly-skilled team of engineers and customer success professionals in Spain will join Stylitics. Chief Executive Officer and Co-Founder, Luis Manent and other key executives will join the Stylitics leadership team. Founded in 2013, Wide Eyes is integrated with retailers in more than 100 countries, with millions of unique users per day. Wide Eyes clients include the largest global retailers based in Spain and throughout the EU.
“We share the same vision for the use of AI and advanced image technology to help brands build better shopping experiences for customers that are more personal, interactive and responsive. This is especially important as a majority of consumers today want to make purchases based on visual searches,” said Manent. “I am very excited about the opportunities we now have as part of Stylitics to further advance our technology and bring next gen AI visual solutions to the best retailers in the world.”
