PRESS RELEASE: INVENGO ACQUIRES A 10% STAKE IN SML HOLDINGS LTD
Category:eChain News,RF Asset Management,RF Hardware & TagsINVENGO ACQUIRES A 10% STAKE IN SML HOLDINGS LTD, THE HONGKONG-HEADQUARTERED BRAND IDENTIFICATION SOLUTION PROVIDER FOR THE WORLDWIDE RETAIL & APPAREL INDUSTRY
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Singapore, 27 October 2016 – Invengo, the global RFID technology provider, today announced the acquisition of a 10% stake in SML Holdings Ltd., the Hongkong-headquartered total brand identification technology and solution provider for the global retail and apparel industry. With a presence in over 30 countries and manufacturing facilities around the world, SML delivers best-in-class products and solutions built on a great technology and thorough understanding of their customers and the retail market. The extensive SML offerings include product branding and labeling, RAIN RFID tag solutions, retail RFID software solutions and data management services, anti-counterfeit and product packaging design and engineering. SML has an enviable customer list that includes such leading fashion brands and retailers as Levi’s®, American Eagle, American Apparel®, Ann Taylor, GAP, Tesco, Best Buy, Target, Wal-Mart and Adidas®.
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% 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.
“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,” comments, Jiann Hsieh, CEO of Invengo International.
