Japanese fashion commerce giant Zozotown acquires fashion coordination startup Vasilly

Japanese fashion commerce giant Zozotown acquires fashion coordination startup Vasilly

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See the original story in Japanese.

Tokyo-based startup Vasily, which runs online fashion coordination service iQON, announced on Thursday that it has been acquired by Start Today (TSE:3092), the company behind Japan’s leading fashion commerce site Zozotown. Details on financial terms have not been disclosed.

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Vasily was founded back in 2008 and subsequently launched fashion coordination service iQON back in April of 2018. Using the mobile app or desktop, the service allows one to combine clothing and accessories online while sharing fashion coordination ideas with other users. Each item has a direct link to fashion e-commerce sites where purchases are made, and the startup will generate revenue from partner sites using an affiliate model. Their mobile app is highly evaluated and has been selected as the best apps several times on the Apple iTunes Appstore and Google Play.

Meanwhile, Start Today, the company behind Zozotown, launched a fashion coordination app called Wear back in 2013, having since acquired 9 million downloads and 6 million coordination pattern posts. According to the financial report of Start Today, the company has annually transacted 212 billion yen (about $1.9 billion US) as of March this year on the Zozotown marketplace.

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The content of the partnership between the two companies has not been disclosed. However, it is expected that Start Today and Vasily will jointly conduct a measure to encourage sales leveraging items and user preference data collected by both companies respectively.

Yuki Kanayama, CEO and founder of Vasily, declined our request to disclose the details but he says,

We can’t yet disclose the details about for how much we have been acquired or what we will jointly work with Start Today on. However, all I can sa is that the key will be data. We believe that we can do more business than ever by combining existing and future data held by Start Today and our own Vasily technology.

Translated by Masaru Ikeda
Edited by “Tex” Pomeroy