lookiero Research by SuperAGI

Overview

Lookiero is a leading personal shopping service for women, founded in 2016 with its headquarters in Bilbao, Basque Country, Spain. Specializing in retail apparel and fashion, Lookiero offers a personalized fashion experience through its e-commerce platform, integrating technology with experienced personal stylists. Operating in a B2C marketplace, Lookiero tailors fashion suggestions based on individual customer preferences and has established a presence in 11 countries, including major markets such as France, Spain, and Sweden.

Company Performance and Structure

Lookiero reported nearly €80 million in revenue in 2023, demonstrating significant growth and a positive EBITDA in the recent quarter. The company employs over 550 people and operates out of five offices located in Bilbao (HQ), Paris, London, Milan, and Berlin, underscoring its expansive operational footprint in Europe.

Leadership

Founded by Oier Urrutia, Lookiero is led by Urrutia as the CEO, propelling the company's growth in the fashion-tech industry. Key members of the executive team comprise Nagore Grandío (CFO) and Eloy García-Borreguero (CTO), both of whom are critical in driving Lookiero's innovation and strategic growth.

Financial and Investment Insights

Lookiero has raised considerable funds to support its expansion, notably securing $30 million in Series C funding in July 2021, backed by investors such as Bonsai Partners, MMC Ventures, Acurio Ventures, and Perwyn. The company's enterprise valuation was estimated between $120 to $180 million as of July 2021.

Strategic Positioning

Through a distinctive combination of smart technology and personalized styling services focused exclusively on women, Lookiero has developed a substantial customer base in Europe, with over 250,000 registered users, particularly significant in France and Spain. Its use of data algorithms to predict and address individual style preferences enhances customer loyalty and experience.

External Engagements and Market Visibility

Lookiero's expansion into Sweden marks its entry into the Nordic region, reinforcing its commitment to expanding its market presence across Europe. The company maintains active engagement with industry stakeholders and is frequently featured in media outlets, reflecting its influence in transforming personal shopping within the fashion industry.

Competitor Profiling

Key Competitors

Lookiero operates within a competitive landscape against several notable companies offering similar online personal styling services:

Stitch Fix: Founded in 2011, headquartered in San Francisco, CA, Stitch Fix offers personalized clothing services for both men and women through a blend of human stylists and AI-driven recommendations. Employing a workforce of 1,001-5,000, Stitch Fix is a leader in integrating technology with fashion retail.

Thread: Specializing in men's fashion, Thread combines human stylist expertise with technology to provide personalized wardrobe recommendations.

Outfittery: Established in 2012 and based in Berlin, Outfittery serves as Europe's largest personal shopping service for both genders, placing a strong emphasis on customer service and offering a variety of top brands.

Reitmans (Canada) Limited: Canada’s leading specialty chain for women's clothing, Reitmans operates over 270 stores throughout Canada, emphasizing a wide range of apparel options.

Market Positioning and Insights

Lookiero targets the European market with its AI-powered personalized styling solutions, focusing solely on women. This specialization distinguishes Lookiero from competitors like Stitch Fix and Outfittery, which cater to broader demographics. Despite the overlaps in technology use, Lookiero's unique market positioning focuses on curated fashion experiences for women.

Strategic Comparisons

Technological Integration: Lookiero and Stitch Fix both utilize AI for personalized styling. Stitch Fix's diverse demographic reach presents a competitive advantage in terms of market scope.

Customer Focus: Both Lookiero and Outfittery prioritize customer service, yet Outfittery's established presence in Europe offers a solidified market base.

Product Offerings: Lookiero's concentration on women's fashion stands in contrast to Reitmans' diverse apparel offerings, securing Reitmans' position across broader retail segments.

Considerations for Engagement

In navigating the competitive landscape, Lookiero can strategize for product diversification and market expansion by potentially increasing inclusivity in gender and refining technological innovations for enhanced customer engagement. Sustaining its focus on AI-powered services and personalized marketing is vital to retain its competitive edge in the dynamic fashion retail industry.

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