This week's diagnosis: Lookiero, a personalized shopping service that leverages customer profiles to deliver a collection of handpicked pre-selected garments and accessories.
⚾ The Elevator Pitch:
Whether you’re walking into a clothing store or shopping online, choosing the right apparel is never easy. Sometimes, you do have an idea in mind, but once you start browsing, the sheer collection of choices makes your mind wobble. And you end up picking things that maybe aren’t the perfect fit for you.
Lookiero is your next personalized shopping partner. The platform uses a combination of experienced personal stylists and smart technology to ensure it finds inspiring and surprising apparel, tailored to clients’ preferences and needs. By indicating your taste, size, preference, and type, you’ll receive a package of 5 clothing items and accessories chosen for you. This collection is selected by the top stylists in Europe that will certainly amaze you in terms of quality and style. And Lookiero has a very simple policy, you'll only pay for things you like.
👇 The Drop Down
Stage: Series C
Tech trend: eCommerce
Traction: 250,000+ registered users, Stores in 8 countries, Raised $30M in Series C funding, including a round total of $53M, Featured on Techcrunch and Tech.
Team: Designers, Stylist, and Acquisition checker
Oier Urrutia (CEO) | Eloy Garcia-Borreguero (CTO) | Nagore Grandio (CFO)
🔍 Why we like it:
- 👩💼 They offer a personalized shopping experience
- The startup applies advanced algorithms to a database of personal customers' and stylists' profiles to create a dynamic shopping experience. By generating a look-a-like profile and analyzing customer behavior, the company says it can predict how likely a customer will keep a certain item. They have partnered with more than 150 European brands and has shipped more than 3 million clothing items last year.
- 📈 They’ve landed with personalization but can expand to the entire marketplace
- Lookiero’s main competition Stitch Fix received an upward revenue of $1.5 billion. Founder and CEO Oier Urrutia says the company has millions of registered users (though they won’t disclose the exact numbers) and has grown revenue each year by up to 200%. At this rate, and with the recent $30M funding, they could soon develop a marketplace of personalized shopping experiences. It will be a new category that people will adore.
- 👫 They’re supported by the best in the industry
- There are tons of shopping marketplaces out there, but nobody has figured out how to create an emotional connection with a customer. Lookiero has surrounded itself with the top talent: Designers, Artists, Marketing managers, and talent hunters to provide a complete shopping experience. Not only do they have expertise in refined clothing choices, but they also aim to build a better platform for the future.
🤝 Get involved with Lookiero
- Read customers reviews on Trustpilot
- They’re hiring! Always in need of talented fashion designers and artists.
- Follow them on Facebook, Twitter, and Instagram