View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
November 22, 2022

Hohenstein invests EUR1.3m into Sizekick AI solution

Testing and certification services provider, Hohenstein, has announced an EUR1.3m investment in artificial intelligence (AI) based sizing tech firm Sizekick, which it says will drive down return rates and lower the industry's carbon footprint.

By Hannah Abdulla

Sizekick was founded in the summer of 2022 and Hohenstein’s investment will enable the product to launch in 2023.

Sizekick will enable online shoppers to find the right clothing size in just a few seconds via smartphone. This not only improves the buying experience when shopping online, but above all helps to avoid unnecessary returns and the associated CO2 emissions.

Recent figures suggest in the US, average e-commerce return rates jumped to 20.8% in 2021 with an estimated US$671bn worth of goods being returned.

Escalating eCommerce returns reduce profits by hiking up retailers’ delivery and warehousing spend (increasing costs by as much as 21% of a product’s order value). And there’s also the problem that returned inventory negatively impacts the environment, with annual carbon dioxide emissions from transporting returned goods in the US estimated to equate to having 3m more cars on the road.

Sizekick uses artificial intelligence and computer vision technology to recommend the right clothing size to customers in partner web shops. Fashion and sports brands, but also multi-brand shops or marketplaces can integrate the “Sizekick button” in the online shop. Sizekick offers its solution as Software-as-a-Service (SaaS).

“The strategic partnership with Hohenstein enables us, as a new AI solution, to meet the high demands of the market right from the start and to assume the role of technology leader. Our artificial intelligence is already learning thanks to Hohenstein with its extensive database of 3D body scans. This is an extremely big benefit for our AI,” highlights Jake Lydon, CTO at Sizekick.

Stefan Mecheels, CEO and owner of Hohenstein, adds: “With Sizekick, brands and retailers will have the opportunity to offer their online customers well-founded size decisions for clothing. This is an important step for the entire fashion industry to make online retail more sustainable with fewer size-related returns.”

Related Companies

Topics in this article: ,
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every quarter.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Style