The number of start-ups in retail technology is growing quickly and Retail Week is highlighting some of the best. This week Stylit is in the spotlight.
Stylit is an online personal styling company - co-founder and chief executive Yaniv Nissim tells us more.
Stylit
Founded: April 2012
Investment: $400,000 of funding raised from Tal Simantov, founder of 5MIN and Gil Hirsch, founder of Face.com
Retail partners: 15,000 brands are on the database, from Asos to Alexander McQueen.
Founders: The founding team includes chief stylist Maya Kramer, chief executive Yaniv Nissim, chief technology officer Michael Gutkin and lead engineer Shilo Ayalon.
What it does:
Nissim says: “Stylit provides free online personal styling by combining real human stylists with an advanced algorithm in order to curate the online shopping experience according to each user’s personal budget, body type and style preferences. Each week, our clients are sent personalized looks – complete with accessories and makeup – that are all click-to-buy, so that instead of an overwhelming online shopping experience with pages of options, they only see what’s relevant to them. Stylit’s combination of technological and fashion expertise allows them to make sense of the 15,000 brands and 3 million fashion items in their database, transforming the online shopping experience from overwhelming to completely personalized.”
Why is it relevant to retailers?
“The global fashion industry is a huge, highly lucrative market that is ripe for disruption. But retailers haven’t taken full advantage of the digital, e-commerce revolution, and companies like Stylit can offer enormous value to retailers and brands who are looking to improve their interaction with their existing customers and access new ones. Stylit offers a solution to the ‘decision paralysis’ that comes from the overwhelming number of online shopping options. They improve on the low online conversion rates that lead to both seller and customer dissatisfaction, by curating brand and retail inventory to each customers personalized style, budget and fit preferences, ultimately improving sales and customer loyalty.”
No comments yet