Multinational retail chain Walmart has announced the acquisition of AR optical tech company Memomi. The financial terms of the deal were not disclosed. The acquisition is expected to close in the coming weeks, which will see co-founders Salvador Nissi Vilcovsky and Ofer Saban joining Walmart, along with the other members of the team.
Memomi, founded in 2014, had initially partnered with Walmart and Sam’s Clubs in 2019. The partnership, which saw Memomi provide virtual try-on experiences for eyewear, had expanded to over 2,800 Walmart Vision Centers and 550 Sam’s Clubs.
Memomi’s solutions have the potential to be used in beauty, fashion, accessories, and footwear verticals but Walmart is expected to focus on virtual optical try-ons. This acquisition also follows that of Zeekit, a virtual clothing try-on startup, last May.