In a move aimed at increasing capabilities to meet a growing demand for customization experiences for consumers and their favorite brands, VU Custom said it acquired YR ID, which is a software platform used online, at retail and during live product customization experiences for well-known brands.
VU Custom, which is an end-to-end product customization software platform for consumer product brands, said in a statement that the “transaction brings together two complementary software businesses serving the rapidly growing demand” for customized and branded infrastructure across various industries and sales channels as well as production environments.
Terms of the deal were not disclosed.
VU Custom said it provides a scalable end-to-end software platform “that takes brands from front-end visualization through product administration and order delivery to the factory, serving brands including Bauer Hockey, Vera Bradley, New Balance, BrüMate and many others.”
The expansion of these types of services is appealing to consumers who are increasingly seeking ways to interact with their favorite brands through greater personalization and customization.
The shift toward customizable and personalized brand experiences is being driven by Gen Z and millennials, and it isn’t just a passing retail trend. Industry analysts have said it is a fundamental rewiring of consumer expectations. These two demographic groups have outgrown mass-market, one-size-fits-all options and are actively voting with their wallets for experiences that adapt to them. And there are several cultural, psychological and technological drivers that explain why this demand for customization is increasingly popular. This includes a need for identity and a more radical self-expression.
According to Inside One, Data shows that over 70 percent of consumers expect personalized interactions and feel frustrated when brands fail to deliver.
VU Custom said YR ID adds deep enterprise experience in fashion, sportswear and consumer product customization by “serving brands including EssilorLuxottica and Ralph Lauren, with proven capability across e-commerce, retail and live environments.”
Customization on an e-commerce site.
“Customization is the expectation, not the exception,” said Colin Woolford, chief executive officer of VU Custom. “Together, VU Custom and YR ID expand our customer base, enterprise market presence and expertise across ecommerce and retail. YR ID has built an exceptional reputation with some of the world’s leading brands, and I am excited to work alongside Tim [Williams, head of YR ID] and the broader team as we bring together learnings from both customer bases to drive greater value for brands of every size looking to deliver scalable, personalized consumer experiences.”
Williams said joining forces with VU Custom “gives us greater scale, deeper expertise and a stronger platform to support brands across ecommerce, retail and live personalization, while continuing to deliver the innovation and service our clients expect.”
VU Custom said it and YR ID brands will continue operating as independent business units within VU Custom. The company said Colin Woolford remains as CEO of the combined entity and Tim Williams as Head of the YR ID business unit.
