Walmart to acquire Israeli startup Zeekit20. May 2021
Walmart to acquire Israeli startup Zeekit
New York, 5/20/2021
U.S. retail giant Walmart wants to acquire startup Zeekit because the Israelis combine various artificial intelligence technologies such as real-time image processing, computer vision and deep learning to allow online shoppers to pick out new clothes, fit them to their body measurements and then virtually imagine how they would look in the clothes.
Walmart plans to use this technology with retail brands such as Free People, Champion, Levi’s Strauss, ELOQUII Elements, Free Assembly, Scoop, Sofia Jeans by Sofia Vergara and its own labels Time and Tru, Terra & Sky, Wonder Nation and George.
When the product is released on Walmart.com, users can upload a photo or select a preset photo of a model that looks like them and share the looks on social media. In this way, customers can develop a virtual closet for themselves, where multiple styles can be stored and combined.
Another goal of Walmart is certainly to regain its leadership position in online clothing sales through the acquisition. This has recently been taken over by Amazon.