LONDON – Metail, which allows customers try on clothes in a virtual fitting room, secured £10 million ($12.88 million) in a Series B funding round, as fashion retail continues its move from the high street to the internet.
The round was led by TAL, a leading Hong Kong-based clothing manufacturer which also led the 2014 funding round. The company had already raised £12.5 million ($16.1 million) since setting up in 2008.
Metail presents customers with a simulated version of themselves that takes into account their size and weight.
It aims to reduce the number of returns customers make for online purchases, as well as give people the confidence to find items that suit and fit them, and provide a generally enhanced customer experience.
“We’re looking at a future where we see retail moving towards consumer tech businesses, and the increasing digitization of fashion,” says Adeyoola. “As the traffic moves from the high street to time spent on a phone, consumer engagement is increasingly important,” he says.
Over the next 18 months the team plans to expand its customer base — which currently stands at 7.7 million users—as well as develop partnerships and new features. Although the service is currently only available for women, founder Tom Adeyoola says he is planning to launch a men’s service at the end of the year.
UK high streets, says Adeyoola, don’t focus enough on consumer engagement. This has been to the benefit of online retailers like Amazon, which have boomed at the high street’s expense. Metail serves as a link between the two.
The vast majority of Metail’s current customer base is in Asia, where a fast-growing middle class, boom in tech and less pronounced high street culture has lead to a greater focus on digital and consumer…