Stylitics, the AI-powered digital merchandising and styling technology platform, inked a deal to amass Wide Eyes, a visible AI solution provider based in Barcelona.
Terms of the deal weren’t disclosed, but Stylitics said in a press release that the acquisition enhances its “inspirational commerce platform with image recognition and artificial intelligence technology that drives easier product discovery and faster conversion.”
The acquisition occurs as more retailers, brands and consumer embrace visual merchandising and shopping. Stylitics said its 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.”
Moreover, the acquisition further expands Stylitics’ growing presence in Europe and the U.K., the corporate said while also noting that the deal adds local teams in Spain “to service growth with retail industry clients across the EU.”
Rohan Deuskar, founder and chief executive officer of Stylitics, said Wide Eye’s technology relies “on several years of cutting-edge R&D, and are widely utilized by lots of Europe’s top retailers. We’re excited to bring these advanced capabilities and advantages to our retail customers and their shoppers, and look ahead to sharing several feature expansions later this fall.”
As a part of the deal, Stylitics said Wide Eye team of engineers and customer success professionals positioned in Spain will join the corporate. Luis Manent, CEO and cofounder of Wide Eyes, and other key executives can even join the Stylitics leadership team.
Manent said in a press release that his team shares “the identical vision for the usage of AI and advanced image technology to assist brands construct higher shopping experiences for purchasers which can be more personal, interactive and responsive.”
“This is very essential as a majority of consumers today need to make purchases based on visual searches,” Manent said. “I’m very excited in regards to the opportunities we now have as a part of Stylitics to further advance our technology and convey next gen AI visual solutions to the most effective retailers on the earth.”
Stylitics said thus far, it has driven greater than $4 billion in incremental revenue for its customers with greater than 200 million additional units sold through 4,500 brands and retailers. “The platform includes the leading solution to construct outfits and product bundling at scale in over 50 billion shopper sessions a 12 months, leading to increased product discovery and basket size, with a mean 23 percent increase in units per transaction and a 21 percent increase in average order value for its partner brands and retailers,” the corporate said.
Wide Eyes was present in 2013, and is integrated with retailers in greater than 100 countries, “with thousands and thousands of unique users per day,” the corporate said noting that its clients “include the most important global retailers based in Spain and throughout the EU.”
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