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Myntra Acquires TechCrunch Disrupt Finalist FITIQUETTE
Marks Myntra's Second International Acquisition in Four Months
SAN FRANCISCO, April 5, 2013 /PRNewswire/ --
Myntra, India's largest e-commerce platform for fashion and lifestyle products is
expanding its technology expertise with the acquisition of San Francisco based FITIQUETTE,
a TechCrunch Disrupt Finalist
[http://techcrunch.com/2012/09/10/fitiquette-online-clothing-measurement-never-looked-so-good ]
in part cash, part stock deal. 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 world-class experience to its customers.
(Logo:
http://photos.prnewswire.com/prnh/20130405/607359 )
FITIQUETTE [http://www.fitiquette.com ] is the first virtual dressing room of its kind
globally. This unique innovation generates a virtual mannequin based on various body types
to which users can further adjust each specific measurement according to their body until
it closely mirrors their own. This technology enables online shoppers to virtually 'try
before they buy', providing an online shopping experience which is very similar to the
offline model.
With this acquisition, Myntra.com [http://www.myntra.com ] will have the ability to
provide the best virtual solution to solve a perceived barrier of shopping online -
finding the right fit and size.
Mukesh Bansal, CEO & Co-founder, Myntra says "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."
Andy Pandharikar, CEO & Co-founder, FITIQUETTE says "The Indian e-commerce industry is
growing at breakneck speed and it is a great time to be a part of this journey. I'm
confident that FITIQUETTE's powerful technology 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.
In November 2012, Myntra acquired Sher Singh, a global private label online brand
specializing in sports-inspired lifestyle apparel for men and women and its New York based
parent company Exclusively.in
About Myntra:
Headquartered in Bangalore, India, Myntra was started by a group of IIT/IIM graduates
in 2007. Myntra is among the best funded ecommerce companies in India by top tier VC funds
- Tiger Global, IndoUS Venture Partners, IDG and Accel Partners. The company's ecommerce
platformMyntra.com [http://www.myntra.com ] is today the largest in the fashion and
lifestyle segment.
Media contact:
Myntra.com
Brian Ammanna
brian.a@myntra.com
+91-80-43540100
Photo:
http://photos.prnewswire.com/prnh/20130405/607359
Photo:http://photos.prnewswire.com/prnh/20130405/607359
http://photoarchive.ap.org/
Myntra.com
Myntra Acquires TechCrunch Disrupt Finalist FITIQUETTE
Marks Myntra's Second International Acquisition in Four Months
SAN FRANCISCO, April 5, 2013 /PRNewswire/ --
Myntra, India's largest e-commerce platform for fashion and lifestyle products is
expanding its technology expertise with the acquisition of San Francisco based FITIQUETTE,
a TechCrunch Disrupt Finalist
[http://techcrunch.com/2012/09/10/fitiquette-online-clothing-measurement-never-looked-so-good ]
in part cash, part stock deal. 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 world-class experience to its customers.
(Logo:
http://photos.prnewswire.com/prnh/20130405/607359 )
FITIQUETTE [http://www.fitiquette.com ] is the first virtual dressing room of its kind
globally. This unique innovation generates a virtual mannequin based on various body types
to which users can further adjust each specific measurement according to their body until
it closely mirrors their own. This technology enables online shoppers to virtually 'try
before they buy', providing an online shopping experience which is very similar to the
offline model.
With this acquisition, Myntra.com [http://www.myntra.com ] will have the ability to
provide the best virtual solution to solve a perceived barrier of shopping online -
finding the right fit and size.
Mukesh Bansal, CEO & Co-founder, Myntra says "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."
Andy Pandharikar, CEO & Co-founder, FITIQUETTE says "The Indian e-commerce industry is
growing at breakneck speed and it is a great time to be a part of this journey. I'm
confident that FITIQUETTE's powerful technology 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.
In November 2012, Myntra acquired Sher Singh, a global private label online brand
specializing in sports-inspired lifestyle apparel for men and women and its New York based
parent company Exclusively.in
About Myntra:
Headquartered in Bangalore, India, Myntra was started by a group of IIT/IIM graduates
in 2007. Myntra is among the best funded ecommerce companies in India by top tier VC funds
- Tiger Global, IndoUS Venture Partners, IDG and Accel Partners. The company's ecommerce
platformMyntra.com [http://www.myntra.com ] is today the largest in the fashion and
lifestyle segment.
Media contact:
Myntra.com
Brian Ammanna
brian.a@myntra.com
+91-80-43540100
Photo:
http://photos.prnewswire.com/prnh/20130405/607359
Photo:http://photos.prnewswire.com/prnh/20130405/607359
http://photoarchive.ap.org/
Myntra.com