At The Startup CFO, we love seeing successful startups that are growing and making an impact. In this post, we want to tell you more about uSizy, a company that has provided a true USP and response to a problem that has traditionally caused e-commerce ventures to lose millions of euros with their hands tied when it came to finding a solution. Optimisation turned out to be key.
A solution to the enormous cost of refunds and returns
uSizy is an exciting new startup founded in Spain by Iñaki García alongside co-founders Pedro Aquilino and Néstor Barrado with headquarters in the strategic cities of Miami and Madrid. The company was founded in 2016 and fully kicked off at the end of 2017 with the goal of solving a very clear e-commerce pain: losses incurred by companies that sell clothing and footwear due to garments returned as a result of incorrect sizing. uSizy satisfies both the e-commerce retail brand and the shopper at the same time.
Their ground-breaking technology, known as Size adviser, requires just two lines of code and a product feed to integrate and streamline the entire workflow process across sizing, stock, pricing and logistics. Transforming retail and avoiding unnecessary loss is the clear goal. The machine-learning driven platform is aimed at retailers who want to understand their sizing schemes better and provide better sizing guides for users.
Una startup que siempre encuentra el tamaño perfecto. Hasta ahora, el problema principal eran las guías de tallas arcaicas que uSizy pretende eliminar revolucionando al mismo tiempo el sector. Los usuarios pueden medir su talla de una manera mucho más fácil y realista a la hora de comprar su ropa, calzado y accesorios favoritos online.
Optimal funding and support
Usizy’s publicly named investors to-date include Draper, TheVentureCity y The Valley Venture Capital. In February 2021, Business Insider Spain tipped the company as an unmissable technology startup that would continue to be a ground-breaker during this year and mentioned The Valley Venture Capital’s involvement on the project. The firm has even stated that they firmly believe that uSizy is one of the key startups that could prove to provide ideal solutions to resolve financial pains and crises caused by the pandemic.
Global success and win-win solutions
uSizy’s global success is impressive. Spanning 100 countries, 3000 brands and available in 23 languages, the platform is multicultural in its essence and includes brands like New Balance, Lacoste, Nike, Pepe Jeans and Quicksilver. uSizy provides their clients with a partner rather than a provider demonstrating their proactive attitude in getting onboard with retailers and fully backing their goals and ambitions for streamlining and saving.
In addition, uSizy Smart Business took the brand’s own unique technology to the next level with a complete package for partners comprised of uSizy Size Adviser, Smart Stock, Smart Logistics and Smart Pricing. This package goes beyond sizing and allows retailers to optimise a range of business areas with data-driven solutions. The end goal is a win-win situation for both the retail partner and the end customer who experiences less inconvenience and a more realistic sizing experience.
Among many success stories which stand out, Tradeinn is a leading e-commerce retailer with over 15 online shops for different industries and features more than 1,800 brands in over 100 countries.
uSizy started working with Tradeinn a few years back before a massive Black Friday campaign with the goal of minimising loss over the Black Friday and Holiday season, periods which can be notoriously challenging for fashion retailers in terms of losses on item returns. Fast-forwarding to the present, uSizy works alongside Tradeinn with 315 brands, providing exact size recommendations with its expert technology which has resulted in a large conversion in sales, return rate for error of size and in loyalty.
Expanding and optimizing global retail
Taking the UK as example, uSizy works with several British companies in addition to international companies that operate in the UK market. This is one of the biggest markets in the European continent, having London and Manchester considered as fashion hubs and a population massively engaged in e-commerce.
During Christmas 2020, the UK found itself in the midst of national and regional lockdowns and restrictions similar to those in Spain, despite being less stringent in some areas. This meant most families didn’t meet up for the traditional Christmas dinner and e-commerce soared even more. uSizy streamlined operations for UK retailers that reached a big quantity of sales after predicting that 75% of UK online returns would originate in the clothing industry. The key reason for these returns is generally attributed to sizing errors.
Usizy received the Best Technology for eCommerce award at the 21st Century National Awards. In addition to consolidating its strong position and prestige in Spain, uSizy looks towards Latin America, with the eye on a population of 660 M people.
At The Startup CFO, we are impressed by uSizy’s e-commerce focused innovation in Spain and abroad. Solutions focused on streamlining and optimising online retail and ensuring that loss is kept to an absolute minimum will prove vital in local, national and regional recovery as we continue into the second half of 2022.