STOCKHOLM, Nov. 26, 2021 /PRNewswire/ -- Touchtech AB
(TOUCH), a developer of technologies that bring engaging digital
experiences to in-store shoppers, today announced the completion of
a directed share issue worth approximately $4.4 million USD to Heartland, the private
holding group of Anders Holch
Povlsen. The investment will give Povlsen, the sole owner
and CEO of international fashion group Bestseller, a 25 percent
stake in the company, which is publicly traded on the Swedish
Spotlight Stock Market.
The investment follows a long-standing business relationship
between Touchtech and Bestseller brands, which have been leveraging
the technology in physical retail locations and wholesale showrooms
throughout Europe since 2018. With
the ability to enhance service levels, drive efficiencies, reduce
waste and catalyze conversions in both B2B and B2C environments,
the technology is considered to be one of Bestseller's most
impactful digitization initiatives.
With Touchtech's established, enterprise-caliber product-market
fit and proven business value, the investment from Povlsen's
Heartland holding company will help to accelerate further
development and commercialization of the technology. In addition to
market expansion, a major priority is to build on capabilities that
enable greater sustainability by eliminating the need for physical
samples and better aligning production and sales. Not only will
this reduce the waste that comes from overproduction, it will also
lower capital expenditures and increase profitability as stores can
purchase less and sell more at optimal prices.
"The injection of new capital combined with a deepened
collaboration with Heartland and Bestseller will enable Touchtech
to accelerate our international growth plan and drive the
digitalization and change within the retail industry," said
Deniz Chaban, CEO of Touchtech. "We
could not wish for a better partner to join us on our mission to
create the best possible tools for sales and marketing people in
wholesale and retail.
"In recent years, Touchtech has been a highly-valued partner for
Bestseller. With the teams' sound understanding of fashion industry
dynamics and ability to serve customer needs through digital
solutions, strengthening our relationship through a strategic
investment was a natural next step," said Lise Kaae, CEO of Heartland. "We look forward to
working closely with the team to support Touchtech's future and as
a driver of digitalization throughout the industry."
For more information
Deniz Chaban, Founder & CEO
Touchtech, deniz@touchtech.com, +46 31 75 73 260
About Touchtech
Touchtech is an innovative Swedish company that provides
complete solutions to the retail trade to digitize the store
experience and increase in-store sales. The company develops
and sells two products: Touchtech Lima and Touchtech Vendo, so both
consist of interactive software that is installed on larger touch
screens and used in physical environments such as shops, showrooms
and trade fairs. The company's products fall within the
concept called "Endless-Aisle", which can be translated to
"infinite shelf" in Swedish. The concept aims to be able to
present endless information about products, for example, via a
touch screen.
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Deniz
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Touchtech
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SOURCE Touchtech