Amazon buys 3D body scanning startup Body Labs
Amazon has reportedly acquired a 3D Body scanning startup known as Body Labs, a technology company that specialises in 3D body modelling and imagery.
According to Tech Crunch, the sum could exceed $100mn, but more appropriate sources have suggested that it is more likely to fall between the $50mn to $70mn range.
Body Labs was founded back in March 2013, since raising more than $10mn across two investment rounds.
The move on Amazon’s part is a sign that the company is more aggressively pushing towards the growth of its own-brand products, with estimates from investment banking firm SunTrust Robinson Humphrey predicting that the company’s private product labels will generate as much as $4.3bn in sales this year alone.
Amazon has so far launched nine fashion brands in 2017, with a further 17 having been released last year. It has also created fashion-specific hardware, launching its own clothing subscription service and creating its in-house outfit recommendation software.
These all indicate that the ecommerce giant wants to kick on in the industry, something that will only be helped by the company’s acquisition of Body Labs.
- 10 reasons why Amazon is winning despite US$2bn Q2 lossLeadership & Strategy
- Ex-Amazon exec Dave Clark to lead logistics rival FlexportLeadership & Strategy
- Amazon, Alphabet, Wells Fargo best workplaces, says LinkedInHuman Capital
- Executive moves: Amazon, PayPal, Neiman Marcus, ExxonMobilLeadership & Strategy