Snap expands into fashion e-commerce

Snap, the parent company of image-sharing app Snapchat, has confirmed its acquisition of Fit Analytics, a Berlin-based startup that specialises in helping shoppers find the right-sized clothing and footwear from online retailers.

Why it matters

As reported by TechCrunch, it means that Snap is adding a substantial e-commerce technology business into its portfolio. Fit Analytics already works with around 18,000 retailers and brands – including Asos, Calvin Klein, North Face and Puma – and its CEO, Sebastian Schulze, said the company will continue to operate its existing concerns while also helping Snap build out its shopping platform.

Takeaways

• In addition to machine-learning technology that enables users to upload their own measurements to find the best-fitting apparel, Fit Analytics has developed an imaging tool that lets people experiment with how clothes would look on them. TechCrunch says this is “an interesting area considering Snap’s focus on the visual experience”.
• Snap currently generates most of its revenue from advertising on Snapchat, so this latest deal is expected to diversify its revenue while also building on Snap’s already substantial relationship with fashion and beauty brands.
• Snap has not commented on how and when it plans to integrate Fit Analytics’ tools, but it is worth noting that Snapchat’s core audience of teen and younger users are also a major target for fashion retailers.

Key quote

“Our main focus going forward will be to scale the Fit Analytics business and work with Snap to grow their shopping platform, leveraging our technology and expertise. Our teams will be jointly executing on next-gen shopping, fashion and style offerings” – Sebastian Schulze, CEO and co-founder of Fit Analytics.

Sourced from TechCrunch

^{[Image: Fit Analytics]}