DLA Piper advised Stylitics, a leading AI-powered digital merchandising and styling technology solutions platform, on the acquisition of Barcelona-based Wide Eyes, one of the leading visual AI solutions for fashion and retail.
To date, Stylitics has driven more than $4 billion in incremental revenue for its customers with 200 million plus additional units sold from more than 4,500 brands and retailers. The platform includes the leading solution to build outfits and product bundling at scale in over 50 billion shopper sessions a year, resulting in increased product discovery and basket size, with an average 23% increase in units per transaction and a 21% increase in average order value for its partner brands and retailers.
Stylitics also announced that the Wide Eyes highly-skilled team of engineers and customer success professionals in Spain will join Stylitics. Chief Executive Officer and Co-Founder, Luis Manent and other key executives will join the Stylitics leadership team. Founded in 2013, Wide Eyes is integrated with retailers in more than 100 countries, with millions of unique users per day. Wide Eyes clients include the largest global retailers based in Spain and throughout the EU.
Enrique Chamorro comments: “We are very proud to have advised Stylitics on this transaction in Spain, a multidisciplinary work with the US team, which also demonstrates that the expansion of AI to deliver highly innovative solutions that support people and products across industries is now a reality”.
The DLA Piper team in Spain was led by corporate partner Enrique Chamorro and composed by Héctor Gómez, legal director, and Carlos Fuerte, associate, both from the corporate department.
In the US, the operation was led by Randy Socol and Steve Reil, corporate partners, with the participation of Matt Strawbridge, corporate associate.