Lectra announces the signing of an agreement with the shareholders of the Belgium company Retviews to acquire 100% of capital and voting rights.
Founded in 2017, Retviews has developed an innovative technology that enables fashion brands to analyze their competitors’ assortments in real-time to increase sales and margins. Today, more than 30 brands use Retviews in France and Belgium.
“By uniting with Retviews, we confirm once again our ambition to help our customers to 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 optimize their collections.”
Daniel Harari, Chairman and CEO, Lectra
The fast-growing startup was created by two Belgian entrepreneurs, Loïc Winckelmans (CEO) and Lorenzo Pellizzari (CTO). While working for a data science consultancy company, they discovered an opportunity to help fashion retailers take better assortment decisions using data. On average, retailers need to monitor about 30,000 products from dozens of competitors in each country in which they operate. In addition, in most of the cases competitors’ monitoring is manuall nowadays, which is time-consuming and highly inefficient. With online store, retailers have now access to more data than ever before. However, they are limited in the ability to process this massive amount of information efficiently.
Lorenzo Pellizzari (CTO), Loïc Winckelmans (CEO) of Retviews
“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. It will enable them to deliver products to the market that constantly meet consumers’ expectations.”
Loïc Winckelmans, Co-founder and CEO, Retviews
Retviews uses artificial intelligence to automatically recognize a huge variety of products. It allows to create dashboards to analyze competitors on things such as prices, discounts, colors, materials, and sizes available. Being able to see these discrepancies early allows for quicker adjustments, which saves months of revenues. Retviews’ technology allows retailers to act faster and make data-driven decisions to stay competitive.
“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.”
Lorenzo Pellizzarri, Co-founder and CTO, Retviews
Lectra will accompany Retviews’ international expansion and support the growth of its team. In addition, Lectra would enable the startup to achieve its ambition to become a European fashion-tech leader. The startup will also benefit from Lectra’s global customer base to expand the usage of its solution.
The transaction involves the immediate acquisition of 70% of Retviews for €8 million. The acquisition of the remainder of capital and voting rights will take place in three times over next three years.
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