MyShape closes series B funding from DFJ

myshape pictureMyShape, an innovative website geared towards providing women with a personalized shopping experience, closed series B funding from Draper Fisher Jurvetson. MyShape received series A funding in 2006 from the Pasadena angels and Tech Coast Angels.

MyShape’s unique technology allows a woman to enter her measurements at the website, and create her own personalized shop with items that will not only match her taste, but will fit her and be flattering to her particular body shape.

myshape shape typeMyShape, which sells clothes from 200 designers, attacks a crucial problem faced by online retailers - the high rates of return of clothing. The customization aspect of the website, not only cuts down on returns (by 50%), it has also drastically increased single purchase value as well as return customer sales.

From Louise Wannier, CEO of MyShape:

“By inventing the personal shop which displays the assortment of clothes for each woman that fit and flatter their individual profile, we are making online shopping convenient and enabling the consumer to shop with confidence! There are millions of women who are currently frustrated with shopping and want the convenience of shopping online. MyShape is very pleased to have demonstrated that the personal shop improves the fundamental online metrics significantly. MyShape’s online returns are less than half the industry average and conversion, and average order are 50 percent ahead of the industry averages. At MyShape, we have understood that Shape is important and that to have clothes fit well, it isn’t just about measurements, it is about body proportion and how the clothes balance to flatter your figure; MyShape offers consumers the delight of discovering outfits that flatter.”

So how many women would actually go to a website like this, and enter their measurements? Well, at 70,000 and counting, I’d say a lot!

Tags :

Post a Comment

28 queries. 1.184 seconds.