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Invengo acquires 10 per cent stake in SML Holdings
31
Oct '16
Courtesy: Invengo
Courtesy: Invengo
Invengo, a global RFID technology provider and a leading developer of high quality, intelligent RAIN RFID, HF and NFC inlays, tags and connectivity solutions utilised in the Internet of Things (IoT), has acquired a 10 per cent stake in SML Holdings Ltd., Hongkong-based firm total brand identification technology and solution provider for the retail industry.

Retailers frequently struggle with inaccurate inventory and that inaccuracy has significant negative impacts to their business such as: lost sales, excess shrink, ineffective omnichannel processes, poor employee productivity and bloated inventories. As retailers work to improve efficiency they are entering a new era of retailing (Retail 3.0) by using RFID technology and solutions which is enabling retailers to achieve over 98 per cent inventory accuracy, and thus, more efficiently manage their inventory and deliver new levels of customers service. This Retail 3.0 retail world includes: dramatically reducing out of stocks, creating better instore experiences and enabling more effective omnichannel delivery models. And likewise, in supply chains, RFID technology and solutions from SML are being used to improve inventory accuracy through the lifecycle of a product.

Based on the IDTechEx forecast for 2016, the number of tags used in 2017 is expected to reach over 5 billion. SML, as a market leader in traditional clothing labels and packaging, is already serving the needs of the apparel retail industry. As a result of adding RFID technology and solutions to its existing programs, SML is in an excellent position to benefit from the shift towards comprehensive retail inventory management and the Internet of Things.

The aim of the investment is to establish optimal synergy between Invengo and SML in areas such as products, marketing, sales and innovative RFID solutions. Blending the extensive RFID product and solution depth of Invengo with the proven retail technology and global reach of SML will strengthen the global leadership position of both companies in apparel inventory management solutions for the retail sector.

Jiann Hsieh, CEO of Invengo International said, “We have admired SML for years as they built a world-class data management system to support the global expansion of their locally-based service bureaus. Coupled with an excellent track record in on time delivery and price efficiency, an experienced and highly-valued management team and in-company know-how, we are in an excellent position to benefit in this fast-moving growth market.” (GK)

Fibre2Fashion News Desk – India


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