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Walmart To Acquire AR Optical Tech Company Memomi

Walmart

Bentonville, Arkansas-based Walmart has entered into an agreement to acquire Memomi, an augmented reality optical tech company, reinforcing Walmart’s commitment to frictionless and omnichannel optical care.

Memomi Labs Inc. is a provider of cutting-edge technology to enhance virtual try-on user experiences through artificial intelligence, deep learning and augmented reality. Since 2019, Memomi has enabled digital measurements for all Walmart and Sam’s Optical customers, across more than 2,800 Walmart Vision Centers and 550 Sam’s Clubs.

Acquiring Memomi is the next step in its journey of offering personalized, affordable access to optical care. This acquisition furthers its strategy to deliver integrated, omnichannel healthcare, leveraging data and technology to improve engagement, health equity and outcomes.

“Customers are looking for access to care digitally, in their homes and purchasing eyeglasses is no different,” said David Reitnauer, VP, specialty services, Walmart Health and Wellness. “This acquisition supports our health and wellness mission to provide accessible care to the communities we serve.”

Memomi provides AR technology to enhance virtual optical try-on experiences, helping customers virtually “try on” eyewear in real-time. In addition to the try-on experience, Memomi technology has created a measurement experience in-store once glasses are selected.

“Walmart’s ability to roll out our virtual try-on and contact-free digital measurements service in a short period of time shows how committed Walmart is to its customers’ need for digital care in-stores and at home,” said Ofer Saban, chief technology officer, Memomi.

The acquisition is expected to close in the coming weeks, and Memomi employees will join the Walmart Global Tech organization.

“We’re excited to welcome the Memomi team to Walmart and add their capabilities to our leading virtual reality technology that is transforming the retail experience for our customers and members,” said Cheryl Ainoa, SVP, new businesses and emerging tech, Walmart Global Tech.

Each week, approximately 220 million customers and members visit approximately 10,500 stores and clubs under 48 banners in 24 countries and e-commerce websites. With fiscal year 2021 revenue of $559 billion, the company has more than 2.2 million employees worldwide.

Additional information can be found by visiting corporate.walmart.com.

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