E-commerce lingerie startup company True&Co was recently acquired by Phillips Van Heusen (PVH), an apparel company owning big brands such as Calvin Klein, Tommy Hilfiger and Van Heusen.
According to TechCrunch, PVH, which operates in 40 countries with $8 billion revenue last year, has plans to invest more in digital platforms.
"We believe that we can leverage the analytics tools of this data-driven company, while leveraging PVH's intimates category expertise, including global brand management, product know-how, and supply chain," said PVH CEO and chairman, Emanuel Chirico.
True&Co was founded in 2012 along with other startups that have a mission to take over the lingerie market share that is currently dominated by brands such as Victoria's Secret. According to Fashionista, the lingerie startup company is distinct to others because of its data-driven approach.
As getting a perfect size for bra comes as a difficult purchasing process even in the physical stores, the True&Co chooses to let the potential customers take a quiz to find out the perfect bra for them. The quiz is related to the already owned bras and how the customers look. Based on the results, the e-commerce store then sends five bras that fit the bill so the customer can pay their desired bras before sending back the unwanted ones.
There have been five million people taking the quiz and according to the True&Co founder Michelle Lam, the company's growth has aggressively increased. The success leads to the increase of demands and the stock is often sold out. Lam said it is a good thing but it is a challenge when the company wants to keep the customers happy.
According to the startup company's website, the company has a mission to change the way the lingerie market works. True&Co also intends to help people "recognize that there's so much more to fit than [the customer's] band and cup size."
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