NEW YORK, N.Y., January 16, 2001 --
Retail Options LLC, the New York-based alliance formed by a consortium of
global industry leaders, announced today that selection of the Rosetta
Stone(TM) fit technology from Silicon Valley-based TheRightSize, Inc. as the
most promising solution to the estimated $50B worldwide problem of size-related
returns.
Retail Options has studied the
fit/sizing technologies, specifically as it pertains to reducing retail returns
and reviewed more than a dozen companies that promise to help consumers find
their correct size. "We are looking for
best of breed not only in the technology, but in the technology that best
addresses consumer interface," says Kenneth Walker, Managing Director of Retail
Options.
"The apparel industry is looking for
a fit solution that is effective, inexpensive to implement and able to scale to
meet the demands of billions of apparel consumers. TheRightSize approach is unique.
We've watched their technology develop over the past six months and are
convinced they are delivering a key element of the fit puzzle. With their Rosetta
Stone technology about to
launch, we are pleased to recommend TheRightSize to the retail community" said
Kenneth Walker, in the affirmation of TheRightSize as the leading fit
technology.
Ernesto Aguirre CEO and Co-Founder
of TheRightSize, was pleased, "We have tremendous respect for Retail
Options. The firm represents a powerful
blend of traditional and online experience, contacts and global reach. Our goal is
to partner with Retail Options
and other companies offering visualization services to create a broad spectrum,
consumer-friendly range of services that unlock the potential of returns-free
online, wireless and catalog retailing. Nobody likes returns. We're
ready to help retailers eliminate them, starting this month.
Retail Options LLC is a strategic alliance that was formed earlier
this year among retailers Federated Department Stores, Inc., Sears,
Roebuck & Co., and Carrefour, St. Paul Venture Capital and international
Internet professional services firm Organic, Inc. The company was formed to
identify, invest in, develop and distribute retail brands and technologies that
present innovative opportunities in integrated bricks-and-mortar and e-commerce
retailing.
TheRightSize,
Inc. is a leading provider of profit-enhancing software for multi-channel
retailers. The company's patent-pending
Rosetta Stone technology uses consumers' feedback on what fits them now to
predict what other items they'll also like. Developed by PhD's and graduate students
from MIT and Carnegie-Mellon
University, the software is hosted and maintained by TheRightSize and appears on retailers'
web sites with its branding, apparel database, promotions, merchandising, look and feel customized
for the retailer.