Walmart is expanding the scope of its virtual try-on services for shoppers, with news today that it plans to acquire Memomi, an AR optical technology company and current Walmart partner that offers glasses-based virtual try-on experiences. . Terms of the deal were not disclosed, but Memomi has provided digital-based measurement technology to all Walmart and Sam’s Club customers since 2019.
This partnership has spanned more than 2,800 Walmart Vision Centers and 550 Sam's Club stores. The technology also powers the optical e-commerce experience on SamsClub.com.
Although Memomi's website says its technology can be used in product categories beyond optics - including beauty, fashion, accessories, footwear and more - Walmart declined to discuss future plans for the service in those areas. Instead, the retailer told us it's solely focused on leveraging Memomi's capabilities for virtual optical try-ons.
However, Walmart has been investing in some new technologies in the virtual try-on space, including the recently launched artificial intelligence -powered virtual clothing try-on feature, powered by its acquisition of Zeekit. Last week, it also launched an AR feature that lets users see furniture and other home decor appear in their space.
With Memomi on board, the retailer said they are interested in both the technology and the team. Co-founders Salvador Nissi Vilcovsky and Ofer Saban will join Walmart as a result, and the rest of the team will join Walmart when the deal is formally finalized and subject to regulatory approval in the coming weeks. Although the founder's new official title has not yet been announced, we know that the Memomi team will join Walmart's global technology team.
Walmart described the deal as the "next step" in providing personalized and affordable optical care online, a sign that the company aims to further take on rivals like 1-800 Contacts and online brands like Warby Parker through acquisitions. By bringing its technology partners in-house, it will also be able to work more closely with the team on future developments and integrations, even if these remain limited to in-line optical technology solutions.
David Reitnauer, vice president of professional services for Walmart Health & Wellness, said in a statement: "Customers are looking to get care digitally at home, and shopping for eyeglasses is no exception. This acquisition supports our health & wellness mission, To provide accessible care to the communities we serve."
"We are 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," New Business and Emerging Technologies, Walmart Global Technology added Cheryl Ainoa, Senior Vice President.
