by Apparel Resources News-Desk
17-July-2019 | 3 mins read
Lectra enters into a partnership with Retviews! The technology giant has collaborated with the shareholder of the Belgium Company to acquire 100 per cent of capital and voting rights.
The transaction involves the acquisition of 70 per cent of Retviews for €8 million today.
The acquisition of the remainder of capital and voting rights will take place three times in July 2020, July 2021 and July 2022 for amounts of about 0.9 times 2020 revenues, 0.7 times 2021 revenues and 0.5 times 2022 revenues, respectively. These amounts will come from Lectra’s available cash, with no financing from the bank.
“By uniting with Retviews, we confirm once again our ambition to help our customers quickly enter the era of Industry 4.0. Thanks to artificial intelligence algorithms, Retviews’ offer enables brands to make the best decisions at every moment throughout the life cycle of a product, in order to optimise their collections. We are delighted to welcome the talented teams of Retviews. Together, we will create synergies with Lectra’s current offer, develop their technology and market their solution to our fashion customers worldwide, thanks notably to our 32 sales and services subsidiaries covering more than 100 countries,” says Daniel Harari, Chairman and Chief Executive Officer, Lectra.
Retviews, fashion retail technology provider, has come up with an innovative solution that helps the fashion brands with real time data insights for better product assortment. Founded in 2017, today the company’s technology is successfully being used by 30 brands in France and Belgium.
“In a few months, Retviews has become the leader of automated benchmarking in fashion in France and Belgium. By joining forces with Lectra, we are convinced that we will benefit from its expertise to bring new innovations to fashion brands that will enable them to deliver products to the market that constantly meet consumers’ expectations,”states Loïc Winckelmans, Co-founder and Chief Executive Officer, Retviews.
“Fashion companies are sitting on massive volumes of data that have tremendous value. They will only be able to exploit them by deploying artificial intelligence and big data. With Lectra, we are going to enable brands to make a difference. We are looking forward to working on the development of new offers integrated with those of Lectra,”says Lorenzo Pellizzari, Co-founder and R&D Director, Retviews.
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