Myntra Acquires Witworks, a Smart Wearables Devices Startup
Apart from using machines to come up with new designs, Myntra is also looking at using augmented reality (AR) to enhance connect with consumers.
Mumbai, April 16: E-commerce fashion portal Myntra has acquired a smart wearables devices startup Witworks to strengthen Myntra's technology team. As part of the acquisition, the Flipkart-owned company has inducted the Witworks team into its Innovation Labs to to augment its product development capabilities. This acquisition will enable Myntra to develop wearable products for their in-house brands as well as leverage the technology to drive innovation and enhance consumer engagement in the future.
According to a statement released by the company, Myntra Chief Technology Officer Jeyandran Venugopal said, “(Smart) wearables is currently a Rs 300 crore industry in India and is growing rapidly, with online contributing 60 per cent to the total business. This acquisition will help us to solidify our position in this segment and enable us to develop and launch cutting edge wearable products like smart shoes, connected smart watches and interactive/intelligent clothing with biosensors."
Myntra has been using technologies like data mining and artificial intelligence (AI) to help designers come up with patterns and styles that can boost sales for apparel makers. it has already tested this internally with its two in-house brands Moda Rapido and Here and Now which are powered by AI. Apart from using machines to come up with new designs, Myntra is also looking at using augmented reality (AR) to enhance connect with consumers.
(The above story first appeared on LatestLY on Apr 16, 2018 04:34 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).