Retail industry’s premier FitTech solution appoints Patrik Brakenhielm as CFO, leveraging Series A fundraise to grow commercial team and expand presence in China
STOCKHOLM, May 12, 2022 /PRNewswire/ — Volumental, a computer vision company that helps the world’s top retailers and brands solve fit, improve customer experiences, and transform data into fuel for profitable growth, today announced a number of growth initiatives to support the company’s global expansion. Following its Series A fundraise in December, Volumental has bolstered its C-suite with a Chief Financial Officer and established a new commercial team focused on growth efforts in China.
Partnerships with leading brands who already have a presence in China – including Under Armour, Canada Goose, Yonex and New Balance, as well as domestic retailers and brands – will all play a part in paving the way for Volumental’s expansion. Volumental has tried and tested its FitTech solutions globally since 2016, providing immense value in shop floor sales, e-commerce sales and sales data to leverage in product design, digital marketing and inventory management and with this experience Volumental is confident it will be able to re-create this same success in China.
Playing a key role in the company’s growth initiatives is newly appointed Chief Financial Officer, Patrik Brakenhielm. He joins Volumental from SkinCity, where as CFO and interim CEO he was part of transforming a Swedish-based small skincare business into a highly successful international e-commerce organization. “We’re really excited to invest in our team and deploy our strategic growth plan following our fundraise,” said Alper Aydemir, co-founder and CEO at Volumental. “We’re thrilled to have Patrik and his global retail and e-commerce expertise join our team at this pivotal phase in our growth plan.”
Adoption of Volumental’s FitTech solutions continues to be unrivaled, with over 100 global brands and retailers leveraging its 3D scanning technology and data tools in 3,000+ stores across 46 countries. “In addition to helping us build out a strong finance team to help us scale across multiple initiatives, Patrik will help us with the financial engineering to fuel growth in new markets like China, the world’s largest producer and consumer of footwear,” said Aydemir.
“Coming from an investment company with a focus on next generation retail, and most recently from an innovation-driven e-commerce business, I’ve followed Volumental from the sidelines for a number of years as I watched this company solve the biggest challenge in retail for the world’s largest brands,” added Brakenhielm. “I’m honored to join the brilliant minds on the leadership team to execute the strategic growth plan in place, ensuring Volumental’s technology and team are second to none to build the perfect fit.”
In addition to the 28 million and counting 3D foot scans Volumental’s collected with its partners, the largest names in retail continue to partner with Volumental to leverage its FitTech solutions, including recent initiatives with Lululemon – who analyzed aggregated data from millions of Volumental’s 3D foot scans to design shoes specifically for the shape of a woman’s foot, and Red Wing Shoes – where Volumental’s 3D foot scanner serves as the key piece in Red Wing’s AI-driven Ultimate Fit Experience, featured in their fleet of more than 500 retail stores.
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Volumental helps brands and retailers leverage data to create better in-store and online shopping experiences. Through its integrated FitTech platform, Volumental matches 3D foot scans to retail purchase data and uses its AI-powered Fit Engine to deliver perfect size and style recommendations. Volumental also utilizes its massive database and digital marketing capabilities to turn a shopper’s unique foot data into targeted campaigns with hyper-personalized product recommendations. Volumental is the only recommendation engine that truly empowers retailers and brands to build a holistic omnichannel footwear shopping journey based on fit.
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The following files are available for download:
Press release (PDF)
SOURCE Volumental AB