London - French flash sales site Vente-Privee has acquired a stake in imaging and studio workflow technology specialist SpinMe.
Vente-Privee is a longstanding client of SpinMe and uses the technology to display products in a way that allows customers to ‘pick up’ and view fashion items as they would in-store.
The technology, which aims to emulate an in-store experience through using flat, 360 spin and 3D imaging and video software, also counts Selfridges, Schuh, Tesco, BHS and Macy’s as clients.
Ilan Benhaim, co-founder of Vente-Privee, said: “We’ve seen first-hand the benefits, and how the company is changing imaging techniques, studio automation and workflow management for the retail industry.
“We use the technology across our range of products and due to excellent imagery have a 5 percent return rate, compared to the online industry average of 30 percent. Vente-Privee is investing to allow SpinMe to further develop and expand.”
While no financial details or the size of the stake have been disclosed, as part of the deal Benhaim will become SpinMe’s chairman, and SpinMe’s managing director David Brint has become its chief executive, while SpinMe’s founder John Warner takes on the role of head of research and development.
Commenting on the investment, Brint added: “Vente-Privee is helping us to invest in research and development. The company actually uses our technology, so the quicker we innovate, the more beneficial it will be for all of our retail clients and their customers.
“The US is our biggest market for software, so we’ll naturally increase focus there. It will be business as usual, with the support of a pioneering global retailer.”