Ruti is a fashion business known for designing distinctively comfortable styles specifically for women over 35 years old. Founded by Israeli-born designer and former tech executive Ruti Zisser, the luxury brand announced today that they have has raised $6M in a Series A funding round led by Viola Ventures. It is an investment that will be used to expand the development of its proprietary technology platform.
Building a Customised Digital Experience
Focusing on scaling their online business and their eight offline boutiques, Ruti, believes technology is the key to building a successful in-store experience that delivers on personalization. Developing a technology platform that assists in the design process and supports its in-store stylists by providing customers with a hyper-personalised, high-touch experience. It is a system that continuously builds customers’ profiles, including past purchases, items they’ve tried on, and other attributes. Also, customer feedback gathered on the database influences inventory and design process for upcoming collections.
Furthermore, Ruti’s proprietary AI platform leverages Artificial Intelligence (AI), customised CRM, and opt-in only facial recognition that are personalised recommendations based on each shopper’s fashion preferences, likes and dislikes and an understanding of what designs will be most flattering.
On building a customised digital experience, the CEO, who told Glossy retail with no technology is not going to work, shared: “The thing that keeps tens of thousands of enthusiastic customers coming back to Ruti is their relationship with our brand. They appreciate that we can provide them with products catered to their style and the use of technology vastly enhances our ability to do just that.”
“retail with no technology is not going to work”
Zisser, continued: “This funding will be used to bring the high-touch experience of our in-store experience to our online store. The traditional e-commerce approach might work for high frequency, low-cost items. Still, when it comes to unique products and truly personal customer relationships, we knew we had to develop a better approach.”
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On partnering up with the Belmont, California based company, Daniel Cohen, General Partner at Viola Ventures added: “Ruti’s mindset aligns with our vision to support innovators who are solving consumers’ problems by utilising cutting edge technologies in new ways — something they’ve already been very successful at doing, as a profitable company with repeat customers accounting for 75 per cent of sales.”
Over the next year, the company plans to expand its current team to support its online and offline growth.
Founding editor-in-chief of FashNerd.com, Muchaneta is currently one of the leading influencers writing about the merger of fashion with technology and wearable technology. She has also given talks at Premiere Vision, Munich Fabric Start and Pure London, to name a few. Besides working as a fashion innovation consultant for various fashion companies like LVMH Atelier, Muchaneta has also contributed to Vogue Business, is a senior contributor at The Interline and an associate lecturer at London College of Fashion, UAL.