Technology specialist Lectra has inked a deal to acquire Retviews, whose software helps retailers optimise their product assortment based on an analysis of real-time market and competitor data.
Founded in 2017, the Belgium-based company’s tools are used by more than 30 brands in France and Belgium.
“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,” says Lectra CEO Daniel Harari.
“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.”
The transaction involves the acquisition of 70% of Retviews for EUR8m (US$9m). The acquisition of the remaining capital and voting rights will take place in July 2020, July 2021 and July 2022 for about 0.9 times 2020 revenues, 0.7 times 2021 revenues and 0.5 times 2022 revenues, respectively.
“In a few months, Retviews has become the leader of automated benchmarking in fashion in France and Belgium,” says company co-founder and CEO Loïc Winckelmans. “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.”
Lorenzo Pellizzari, co-founder and R&D director at Retviews, adds: “Fashion companies are sitting on massive volumes of data that have tremendous value. They will only be able to exploit them by deploying artificial intelligence and big data. With Lectra, we are going to enable brands to make a difference.”