Advised the shareholders of Fits.me Holdings Limited on its sale to Rakuten Inc
Strata advised the shareholders of Fits.me Holdings Limited, the UK based provider of online fit and size recommendation solutions to the fashion industry, on its sale to Rakuten, Inc. (TOKYO: 4755), a global leader in e-commerce.
Strata acted as exclusive financial adviser to the shareholders of Fits.me Holdings Limited on the sale of the company to Rakuten, Inc.
Fits.me is a venture-backed company delivering online fit and size recommendation solutions which enable leading apparel brands and retailers to engage with their shoppers, personalise their purchase journey and enjoy valuable operational insight through a portfolio of solutions centred on Fits.me’s expertise in fit. The company employs over 60 operations and commercial staff in London and New York, and at three sites in Estonia which provide its development, research and support operations.
Rakuten is one of the world’s leading Internet services companies, providing a variety of consumer and business-focused services including e-commerce, e-reading, travel, banking, securities, credit cards, e-money, portals & media, online marketing and professional sports. Founded in 1997 and selected by Forbes as the world’s 17th most innovative company in 2014, Rakuten is based in Tokyo and employs over 10,000 staff worldwide with operations throughout Asia, Western Europe and the Americas. Rakuten’s market capitalization was approximately $23 billion in May 2015 and revenues were over $5.4 billion.
Terms of the transaction were not disclosed.