American virtual store platform Obsess secures $10mn in funding

Obsess will use the new investment to accelerate its global expansion and product development efforts and to continue expanding beyond fashion and beauty into additional retail verticals including home, the company said in a press release.

Leading brands like Coach, Tommy Hilfiger, Dermalogica, Nars, Charlotte Tilbury, American Girl, Sam’s Club, Mary Kay and Nayomi are among the companies working with Obsess to increase their brand equity while reaching new consumer and wholesale audiences through highly engaging, interactive online experiences.

“Immersive shopping experiences are becoming a standard part of e-commerce, and forward-thinking brands are using our technology platform to provide shoppers with a rich, interactive way to shop for their products,” said Neha Singh, founder and CEO of Obsess. “Younger shoppers who have grown up interacting with videogames and watching esports expect to be able to interact with brands in real time as they shop online, and 3D virtual shopping experiences will soon be table stakes for brands in every retail category.”

Coach is among the major brands using Obsess’s platform to drive efficiency and sustainability in their businesses. “We worked with Obsess to create an immersive virtual showroom that is a 3D re-creation of our Fifth Avenue flagship store,” said Giovanni Zaccariello, SVP of global visual experience at Coach. “The digital showroom enables wholesale buyers to experience our new collections each season without having to fly in to see products in person, reducing the carbon footprint of our business and speeding the buying process. We also use our virtual showroom to share our visual merchandising guidelines with our global teams in rich detail.”

Obsess uses virtual and augmented-reality technologies to create memorable, immersive digital flagship and pop-up store experiences for consumers and to digitise brands’ showrooms for wholesale buyers. These photorealistic online stores drive discovery, engagement, click-through, session duration, average order value and conversion for leading retailers and brands. The platform enables brands to engage new customer audiences across the globe without needing to establish a brick-and-mortar presence in international markets, the release said.

ALCHEMPro News Desk (KD)