Marks and Spencer has acquired the IP and technology of Thread Online Ltd from administrators Will Wright and Chris Pole of Interpath Advisory. Thread Online entered administration on 30th November.
Thread Online operated as an online marketplace providing personalised clothing recommendations using a combination of artificial intelligence and stylists. It had its own range of clothing whilst also selling third party lines.
The acquisition will enable Marks and Spencer to integrate the Thread technology into its own web platform in order to drive its personalisation goals and deliver an improved customer experience. Marks and Spencer is also taking on a team from Thread including its founders.
Katie Bickerstaffe, co-chief executive, Marks and Spencer said: “The acquisition of Thread is the perfect example of a ‘buy not build’ approach – enabling us to accelerate our personalisation strategy by integrating the market-leading tech on M&S.com in under 12 months.
“We’re taking personalisation to the next level to inspire our customers with tailored outfit inspiration.”
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