Fits.me Announces Investment Deal
OREANDA-NEWS. April 24, 2013. Fits.me, the Estonian-founded company that offers Internet shoppers a "virtual fitting room“ service, has received a 5.5-million-euro injection from investors.
Fits.me CEO Heikki Haldre said in a release that the funds will chiefly be used to boost the company's sales and marketing programs. The company is expanding to new markets, in the EU and the US.
"Although retail sales are increasingly moving to the internet, there are still sectors where the true online bloom lies ahead," Haldre said.
"Clothing sales are on the forefront of the aforementioned sectors, since buying clothes is a relatively subjective process."
Launched in 2010, the company offers retailers robot technology that can adjust to physical measurements, so customers can "try on" clothes online.
Fits.me has contracts with a number of clothing manufacturers. In February, the company launched a new product, the "Fit Advisor," a simplified version of the fitting room technology.
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