USA: EZsize Acquires Competitor SizeMe.com
EZsize, the proprietary smart-sizing service that launched only this Summer, has acquired competitor SizeMe.com for an undisclosed amount.SizeMe.com was the developer of an online technology that generated size and fit recommendations to customers of online apparel retailers. As part of the agreement, Peter Rothschild, the co-founder of SizeMe.com, will join EZsize's senior management team as vice president of business development. The news comes just a week after EZsize announced that it would be working with numerous leading retailers, such as Saks, Ann Taylor, and Esprit de Corp to incorporate the fitting service into the retailers' online, catalogue and in-store channels.EZsize claims that it can help retailers to recoup some of the $4bn of lost revenue brought about by the apparel industry's current 24 per cent return rate.The company's proprietary smart-sizing service measures an individual's body size and then matches it with an extensive database of clothing sizes and styles from the apparel industry's leading retailers and manufacturers.EZsize is backed by Clayton, Dubilier & Rice's Grosvenor Street Partners III, senior executives of Morgan Stanley Dean Witter, and Leucadia Investment.For more information, visit the company's website
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