Toulouse, FRANCE (October 18th, 2023) – Fittingbox announced today that it has completed the acquisition of Ditto Technologies, Inc., an eyewear virtual try-on technology provider and affiliate of Luna Solutions, LLC.
Benjamin Hakoun and Ariel Choukroun, co-founders of Fittingbox, were the first to launch the “virtual mirror,” that allows consumers to try glasses on via a desktop or mobile device, in real time. Since then, Fittingbox has established itself as the world leader in virtual fitting and eyewear digitization.
By joining forces with Ditto, Fittingbox will reinforce its leadership in eyewear virtual try-on, immediately unlocking a product portfolio with the best live and recorded Virtual Try-On, and by far the largest digital glasses database in the world.
"Since 2006, Fittingbox has paved the way for the best augmented reality experience in eyewear by changing the way people buy glasses thanks to virtual try-on with outstanding 3D assets. Now, by coming together with Ditto, we are able to further pursue our mission to deliver the most realistic experiences in digital eyewear. We will have the largest customer portfolio in the digital eyewear industry with customers across all continents and increased offerings in the USA, Europe and Japan,” said Benjamin Hakoun, CEO of Fittingbox.
Ariel Choukroun, chief technology officer and co-founder of Fittingbox added, “As a deep tech company, innovation has always been a strong part of our DNA. With a technological edge backed by a portfolio of now 25 patents including the ones acquired through this transaction, we will pursue our strategy of investment in building cutting-edge digital technology for eyewear, pushing the limits in artificial intelligence, computer vision and computer graphics, to build the best products for our customers.”
This is Fittingbox’s first acquisition and marks a major milestone for the company: “This is a historical moment in our entrepreneurial journey, which started 17 years ago. Since it was founded in 2011, we have respected Ditto as a competitor that drove us to excellence. Now that we are joining forces, there is a great opportunity to strengthen and enhance our product and service offering for clients,” said Benjamin Hakoun.
In connection with this transaction, Luna’s parent company, CNT Holdings, will become a shareholder and will join the Board of Fittingbox. The Fielmann Group and JINS have been investors and Board Members of Fittingbox since 2018 and 2021 respectively. The co-founders will remain the largest shareholders of the company.
“We are proud to partner with Luna and its affiliated companies. We look forward to adding their vision and expertise to the Board, which is complementary to that of the Fielmann Group and JINS,” said Ariel Choukroun.
With this addition, Fittingbox will have a board of directors that has a global perspective covering the main strategic markets of the company: France, where Fittingbox is headquartered, Germany, Japan and North America.
CapM Advisors acted as financial advisor and Snell & Wilmer acted as legal counsel to Ditto Technologies. Squair served as legal advisor to Fittingbox.
Since 2006, Fittingbox, the Digital Eyewear Company, has established itself as the world leader in virtual fitting and eyewear digitization. Based in France (Toulouse) and in the USA (Miami), Fittingbox, the pioneer in Augmented Reality (AR) in Eyewear and frame digitization in 3D, develops cutting-edge optical solutions based on artificial intelligence, machine learning, and computer vision. The company generates more than 120 million virtual fittings per year and represents the largest database of 3D frames in the world, with over 155,000 pairs and more than 4,000 corporate customers.
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Luna was created in January 2022 through the combination of Ditto, 6over6, Premium Vision and ExpressExam. Luna offers an unmatched, integrated suite of technologies and services to forward-looking eyewear retailers, brands and doctors all around the world. With headquarters in Salt Lake City and Tel Aviv, Luna offers solutions for retail, prescription support, and fulfillment to make the process of buying eyewear and contact lenses simple, exceptional, and affordable for everyone. Luna is owned by CNT Holdings, the parent company of 1-800 Contacts, a leading North American optical company. For more information: www.luna.io.