WebsiteGear Logo Log In
New User? Sign Up
About | Contact | FAQ
  Home News Website Related Website Development Thursday, March 28, 2024 
Add Press Release News | News Feeds Feeds | Email This News Email


Heartland Acquires 25 Percent Stake in Interactive Retail Technology Provider Touchtech
Saturday, December 4, 2021

Led by renowned investor Anders Holch Povlsen, the holding company adds digital store solutions provider to growing portfolio alongside Klarna, ASOS, Zalando and Bambuser

STOCKHOLM, Nov. 26, 2021 /PRNewswire/ -- Touchtech AB (TOUCH), a developer of technologies that bring engaging digital experiences to in-store shoppers, today announced the completion of a directed share issue worth approximately $4.4 million USD to Heartland, the private holding group of Anders Holch Povlsen. The investment will give Povlsen, the sole owner and CEO of international fashion group Bestseller, a 25 percent stake in the company, which is publicly traded on the Swedish Spotlight Stock Market.

The investment follows a long-standing business relationship between Touchtech and Bestseller brands, which have been leveraging the technology in physical retail locations and wholesale showrooms throughout Europe since 2018. With the ability to enhance service levels, drive efficiencies, reduce waste and catalyze conversions in both B2B and B2C environments, the technology is considered to be one of Bestseller's most impactful digitization initiatives.

With Touchtech's established, enterprise-caliber product-market fit and proven business value, the investment from Povlsen's Heartland holding company will help to accelerate further development and commercialization of the technology. In addition to market expansion, a major priority is to build on capabilities that enable greater sustainability by eliminating the need for physical samples and better aligning production and sales. Not only will this reduce the waste that comes from overproduction, it will also lower capital expenditures and increase profitability as stores can purchase less and sell more at optimal prices.

"The injection of new capital combined with a deepened collaboration with Heartland and Bestseller will enable Touchtech to accelerate our international growth plan and drive the digitalization and change within the retail industry," said Deniz Chaban, CEO of Touchtech. "We could not wish for a better partner to join us on our mission to create the best possible tools for sales and marketing people in wholesale and retail.

"In recent years, Touchtech has been a highly-valued partner for Bestseller. With the teams' sound understanding of fashion industry dynamics and ability to serve customer needs through digital solutions, strengthening our relationship through a strategic investment was a natural next step," said Lise Kaae, CEO of Heartland. "We look forward to working closely with the team to support Touchtech's future and as a driver of digitalization throughout the industry."

For more information
Deniz Chaban, Founder & CEO Touchtech, deniz@touchtech.com, +46 31 75 73 260

About Touchtech
Touchtech is an innovative Swedish company that provides complete solutions to the retail trade to digitize the store experience and increase in-store sales. The company develops and sells two products: Touchtech Lima and Touchtech Vendo, so both consist of interactive software that is installed on larger touch screens and used in physical environments such as shops, showrooms and trade fairs. The company's products fall within the concept called "Endless-Aisle", which can be translated to "infinite shelf" in Swedish. The concept aims to be able to present endless information about products, for example, via a touch screen.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/touchtech/r/heartland-acquires-25-percent-stake-in-interactive-retail-technology-provider-touchtech,c3460960

The following files are available for download:


     
     https://mb.cision.com/Main/16339/3460960/1501793.pdf             
     Release



     
     https://news.cision.com/touchtech/i/deniz-chaban,c2984998        
     Deniz Chaban



     
     https://news.cision.com/touchtech/i/touchtech-showroom-,c2984999 
     Touchtech Showroom

View original content:https://www.prnewswire.com/news-releases/heartland-acquires-25-percent-stake-in-interactive-retail-technology-provider-touchtech-301432334.html

SOURCE Touchtech



Email This News Email | Submit To Slashdot Slashdot | Submit To Digg.com Digg | Submit To del.icio.us Del.icio.us | News Feeds Feeds

RELATED NEWS ARTICLES
Nav Valeo Takes the Driver's Seat on Generative AI with Google Cloud | Mar 28, 2024
Nav Dreamday PR & Affiliate Agency Named to Fast Company's Annual List of the World's Most Innovative Companies of 2024 | Mar 27, 2024
Nav edX Named to Fast Company's 2024 List of "Most Innovative Companies" for AI Advancements in Education | Mar 27, 2024
Nav Premium Guard Launches Revamped Website for Interfil® | Mar 27, 2024
Nav OpenSpace Introduces New Revizto Integrations Streamlining Communication and Workflows Between VDC and Field Teams | Mar 27, 2024
Nav NETMARBLE OPENS GLOBAL PRE-REGISTRATION FOR UPCOMING ACTION RPG SOLO LEVELING:ARISE | Mar 27, 2024
Nav atNorth Shortlisted in Data Centre of the Year' and 'Colocation Provider of the Year' categories at The Electrical Review and Data Centre Review Awards | Mar 27, 2024
Nav Global Times: Changde Riverside Street integrates ICH with tourism | Mar 27, 2024
Nav ONE Store and HAPPYTUK Partner to Launch Alternative App Market in Taiwan | Mar 27, 2024
Nav Fehinmatics Options Combines Innovation with Compassion: Launches Homeless Feeding Program Alongside New Event Packages | Mar 27, 2024
NEWS SEARCH

FEATURED NEWS | POPULAR NEWS
Submit News | View More News View More News