New Momentum & TXT tie up for Retail Fashion Industry
October 02, 2009 - United States Of America
New Momentum, a leading provider of SaaS-based anti-counterfeiting and channel integrity solutions and TXT e-solutions, the fashion industry's leading provider of supply chain management and intelligence solutions, have teamed up to provide a complete end-to-end value chain risk management solution for retail fashion industry companies. The software solution resulting from this agreement will help manufacturers reduce the damage they experience from counterfeit and gray market sales throughout their value chain. These violations can hurt brand integrity, create disruption in distribution channel, and cause lost revenues.
New Momentum's CEO, Stu Clifton, commented, "Today's retail fashion goods manufacturers are losing billions to fake products. What's more, their future sales are at stake because 'supercopy' counterfeits are quickly eroding their brand reputation. Yet, as we talk with companies in this industry, we're finding many of them don't know how to solve the problem in a cost-effective way. We want to help them regain their profits and reputation. While our software provides that important first step--unmatched visibility into what's happening in the global open market--we believe that by working with TXT e-solutions, an organization that is the gold standard for supply chain in the retail fashion industry, we'll help manufacturers protect themselves against losses to gray market activity."
Stefano Lena, TXT e-solutions' Vice President, Global Sales, added, "By feeding New Momentum's actionable data into our SCM solution TXTPERFORM 2008, we will offer our customers better visibility into consumer buying patterns, as well as what and where they purchase, to provide a better ability to identify supply chain risks early. This intelligence will provide real-time inputs into demand management processes and into the supply network, including supplier communication. We are delighted that this partnership will help our customers gain control of risks throughout their value chain and not only protect their brands, but also regain lost revenue and reduce costs."
While this agreement focuses on the retail fashion industry, TXT also expects this relationship will help them bring their TXTPEFORM 2008 solution into other vertical industries on a non-exclusive basis in Europe.
TXT e-solutions are an international software solutions vendor and leader in "Strategic Enterprise Solutions" in the industrial and media sectors.
New Momentum offer SaaS-based Enterprise Risk Management (ERM) software that combats the rapidly increasing revenue, profit, brand, and market share erosion resulting from global outsourcing and Internet trading.