Walmart To Acquire AR Optical Tech Company Memomi
June 29 2022 - 8:00AM
Business Wire
Acquisition will enable Walmart to continue
to offer fun, frictionless virtual optical try-on capabilities and
contact-free digital measurements
Walmart and Memomi, an augmented reality (AR) optical tech
company, today announced they have entered into an agreement for
Walmart to acquire Memomi. This reinforces Walmart’s commitment to
frictionless and omnichannel optical care.
Since 2019, Memomi has enabled digital measurements for all
Walmart and Sam’s Optical customers, across more than 2,800 Walmart
Vision Centers and 550 Sam’s Clubs, and also powers the Optical
eCommerce experience on SamsClub.com. Acquiring Memomi, an AR
company, is the next step in Walmart’s journey of offering
personalized, affordable access to optical care. This acquisition
furthers Walmart Health & Wellness’ strategy to deliver
integrated, omnichannel healthcare, leveraging data and technology
to improve engagement, health equity and outcomes.
“Customers are looking for access to care digitally, in their
homes, and purchasing eyeglasses is no different,” said David
Reitnauer, Vice President, Specialty Services, Walmart Health &
Wellness. “This acquisition supports our Health & Wellness
mission to provide accessible care to the communities we
serve.”
Memomi is a leading provider of technology to enhance virtual
optical try-on experiences, helping customers virtually “try on”
eyewear in real-time for a seamless, easy and fun omnichannel
experience.
“Walmart’s ability to roll out our virtual try-on and
contact-free digital measurements service in a short period of time
shows how committed Walmart is to its customers’ need for digital
care in-stores and at home,” said Ofer Saban, Chief Technology
Officer, Memomi.
The acquisition is expected to close in the coming weeks, and
Memomi employees will join the Walmart Global Tech
organization.
“We’re excited to welcome the Memomi team to Walmart and add
their capabilities to our leading virtual reality technology that
is transforming the retail experience for our customers and
members,” said Cheryl Ainoa, Senior Vice President, New Businesses
& Emerging Tech, Walmart Global Tech.
“We are looking forward to joining Walmart and offering our
innovations and user experiences to such a large scale both
in-store and online,” said Salvador Nissi Vilcovsky, CEO,
Memomi.
About Walmart
Walmart Inc. (NYSE: WMT) helps people around the world save
money and live better - anytime and anywhere - in retail stores,
online, and through their mobile devices. Each week, approximately
220 million customers and members visit approximately 10,500 stores
and clubs under 48 banners in 24 countries and eCommerce websites.
With fiscal year 2021 revenue of $559 billion, Walmart employs over
2.2 million associates worldwide. Walmart continues to be a leader
in sustainability, corporate philanthropy and employment
opportunity. Additional information about Walmart can be found by
visiting corporate.walmart.com, on Facebook at facebook.com/walmart
and on Twitter at twitter.com/walmart.
About Memomi
Memomi Labs Inc is a leading provider of cutting-edge technology
to enhance virtual try-on user experiences through artificial
intelligence, deep learning and augmented reality. Memomi helps
customers virtually “try on” eyewear in real-time for a seamless,
easy and fun omnichannel experience. In addition to the try-on
experience, Memomi technology has created an accurate, easy
measurement experience in-store once glasses are selected, leading
to time savings for the customer and cost savings for the store.
Memomi was founded in 2014 by Salvador Nissi Vilcovsky and Ofer
Saban, experts in conceptualized solutions and interactive
design.
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