Omnilytics, a software company providing fashion analytics and insights, announced that it would partner with data labeling platform, Supahands, in a $20 million deal. To supercharge its long-term growth, Omnilytics plans to ramp up its acquisition strategy to bolster its core capabilities and boost its technological capabilities.
Kendrick Wong, CEO, and Co-Founder of Omnilytics said, “In recent years, the e-commerce landscape has rapidly evolved, catering to ever-shifting consumer demands. At Omnilytics, our vision is to enable a more intelligent, connected retail ecosystem, enabling brands to stay ahead of their competitors. Our acquisition of Supahands marks a pivotal step in our journey, filling a critical gap in our existing tech capabilities as we take one step closer in becoming retail’s most important data stack.”
With Omnilytics’ proprietary Product Match solution, retailers and brands can compare similar stock-keeping units (SKUs) across a variety of platforms and get valuable information about how the market is pricing similar products. One of Omnilytics’ growing clientele includes leading international player Global Fashion Group, Southeast Asia’s Zalora, Australia’s The ICONIC and Uniqlo parent company Fast Retailing as well as Mr. Price of South Africa and Adidas of Europe.
By transforming retail with smart connected data and actionable insights, Omnilytics provides its proprietary Product Match solution to help world trade more efficiently. As Omnilytics implements a single naming convention, retailers benefit from knowing they can make accurate data-driven decisions at the product and market level, reducing the risk of inconsistencies and misclassifications in their product database – resulting in better business results. By acquiring Supahands, Omnilytics will be able to enhance its product matching solution and open the door to future collaborations and innovations.