MyShape Gets New Round of Funding
Pasadena, Calif.–based MyShape (www.myshape.com), a year-old e-commerce venture focused on fashion and fit, has received its second round of funding from Menlo Park, Calif.–based venture capitalist Draper Fisher Jurvetson.
MyShape is aimed at busy career women looking for well-fitting career and casual clothing. The site is built on technology that acts as a personal shopper of sorts based on a variety of shape profiles using body measurements and other data. Once the data are entered, shoppers find instant clothing recommendations based on the information provided.
As a result, shoppers buy more, return less and are more satisfied with their shopping experience, said MyShape’s founder and chief executive officer, Louise Wannier.
“Our online returns are less than half the industry average, and average orders are 50 percent ahead of the industry averages,” she said.
The funding will allow MyShape to grow internationally, said Wannier.
Added Emily Melton, director at DFJ: “We invested in MyShape because the personal shop offers consumers a breakthrough shopping experience that will transform online shopping and retail economics.”
MyShape also announced additions to its board of directors. Retail veteran Phil Schlein, previously of Macy’s West and iVillage, has joined the board, which includes former Wet Seal Chief Executive Officer Peter Whitford.—Robert McAllister
