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Lectra acquires fashion technology company Retviews

27
Jul '19
Pic: Lectra
Pic: Lectra
Leading information technology firm, Lectra, has announced the signing of an agreement with the shareholders of the Belgium company, Retviews, to acquire 100 per cent of capital and voting rights. Retviews supports fashion and retail industry leaders in their competitive intelligence. Today, more than 30 brands use Retviews in France and Belgium.

The transaction involves the acquisition of 70 per cent of Retviews for €8 million. The acquisition of the remainder of capital and voting rights will take place in 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, according to Lectra.

“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 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,” Daniel Harari, chairman and chief executive officer at Lectra said.

“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,” Loïc Winckelmans, co-founder and chief executive officer at Retviews said. (GK)

Fibre2Fashion News Desk – India


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