GLAMI was founded in 2013 in the Czech Republic as a fashion search engine and over the years, it has connected its platform with more than 3,200 fashion e-shops. Thanks to the constant investment and usage of Artificial Intelligence, which leads to smart categorization and fashion selection tailored to each individual, GLAMI makes fashion discovery and shopping easier. It welcomes more than 40 million monthly visitors in 13 markets and users can choose from more than 15 million products and more than 25 thousand brands.
Stileo was established in 2014 with a similar vision – to gather and organize fashion offers in the “fashion mecca” of the world, Italy. The company is based in Wroclaw, Poland and currently employs a dedicated team of 30 professionals from business development to marketing. The Italian e-commerce market has grown rapidly to reach 35.6 million users, while online fashion shopping generates 26% of its revenues. Stileo is one of the biggest fashion e-commerce websites in Italy with 7 million monthly visitors, who are able to discover fashion products from more than 220 partnered e-shops. Among the most important partners are Amazon, Farfetch, Escarpe, Luisaviaroma, Mec Shopping and Maxi Sport.
Both GLAMI and Stileo grew over the years, turning into key players in fashion e-commerce in their respective markets. While GLAMI managed to gain a strong foothold in Central and Eastern Europe, Stileo managed to establish itself in the highly competitive Italian market. As Stileo becomes a part of GLAMI, it will continue to operate under the Stileo brand name on the Italian market and it is planning to integrate its technological platform with GLAMI in July.
“Some Czech companies in this stage are looking for an investor, rather than investing. I am proud that GLAMI goes in the opposite direction of growing by acquisitions. With this acquisition, we will be combining the strengths of both teams under one company with more than 130 employees. We are creating a strong tech team that plays an important role in e-commerce in Europe. Moreover, it will allow for larger economies of scale, even deeper knowledge sharing, pooled resources and much stronger negotiating power with advertisers and partners,” states GLAMI co-founder and CEO, Tomáš Hodboď.
Stileo is starting a new chapter as it becomes a part of GLAMI. “We are thrilled to join GLAMI’s advanced tech platform with its latest features and internal product and development resources. Over the past couple of years GLAMI invested heavily into the implementation of machine learning technologies into its tech stack and saw great results when it comes to personalized product recommendations, similarity and scalable content management models. By joining our companies together, both our Italian users as well as partnering e-shops will be soon able to benefit from these technologies. We continue on our mission to become the first choice for Italian users when it comes to searching for fashion,” says Igor Smolny, Stileo’s Chief Executive Officer.
“The acquisition brings on board a very experienced team with great knowledge of the Italian market that will continue to develop it further. At the same time, it gives our current connected e-shops access to the attractive Italian fashion e-commerce market. Our plan for the upcoming months is to transfer Stileo to our technological platform and further accelerate the growth of this market. We are excited about this step, which is in line with our long term strategy – to build the best and most recognised online fashion discovery platform in Europe,” comments Ján Kešelák, Chief Revenue Officer GLAMI.