Las Vegas, NV, Hong Kong & Zurich, CH, Jan. 29, 2019 (GLOBE NEWSWIRE) -- 12 ReTech Corporation (OTC: RETC) announced that Jelmoli, (“House of Brands”) of Zurich, Switzerland will become the newest merchant to be added to the 12Sconti APP network.
The 12Sconti APP helps to solve a major problem for food and grocery merchants.
The waste of perishable goods is a continuous problem for merchants in the developed world. The 12Sconti APP advances the dialogue on how to deal with it by allowing retailers to discount, on an hour by hour basis, foodstuffs and other perishable products like flowers, which otherwise would need to be disposed of as waste or recycled as agricultural compost. Using the mobile-app, a merchant will be able to attract a wide social-economic demographic of consumers who might want to purchase soon to expire products at a substantial discount. In the long term, the APP could also be used as a tool for pre-orders, which will help merchants customize their supply chain resulting in more efficient resource management.
Jelmoli is the largest premium department store in Switzerland, founded in Zurich 185 years in ago. It is known as the House of Brands in its luxury goods department store business. Located at the Bahnhofstrasse, a world famous up-scale shopping area in Zurich, Jelmoli’s “Food Market” is well known for its high-quality products and excellent services.
Angelo Ponzetta, CEO of 12 ReTech commented, “We are very excited that one of Zurich’s most prestigious retailers and Switzerland’s biggest premium department store is joining the growing ranks of 12 ReTech merchant clients. Their participation is a major breakthrough for our 12Sconti APP network. Up until now, the merchants using 12Sconti have enjoyed mixed success in getting their clients to download the APP to their mobile phones. A major retailer such as Jelmoli, with millions of consumers in their database, is a huge win for us. Jelmoli will use the 12Sconti APP to communicate time-sensitive marketing messages to their clientele to stimulate sales of perishable products in their Food Market and restaurant.”
Franco Savastano, CEO of Jelmoli commented, “Jelmoli is constantly working to develop its premium position and to optimize the high-quality environment. Collaborating with 12Sconti APP is part of our strategy to address new consumers in order to meet our sustainability goals. I believe that our customers will find the 12Sconti APP intuitively easy to use and a valuable and convenient tool to find offers on products and services that we will update on a regular basis. We look forward to reaching out to our existing as well as new customers and to be able to sell perishable goods in a timely manner.”
Thierry Bromberger, Head of the Food Market & Gastronomie within Jelmoli commented "Mit dem 12Sconti App können wir ein nachhaltig orientiertes und preisaffines Publikum ansprechen und gleichzeitig Food Waste reduzieren. Dies ist ganz im Sinne von Jelmoli’s Nachhaltigkeits-Strategie. Jelmoli freut sich, als erster Retailer an Board dieser innovativen App zu sein.“
Mr. Bromberger’s comments translated into English: “With the 12Sconti App, we can appeal to a sustainability- oriented and price-conscious clientele while reducing food waste. This is in the spirit of Jelmoli's sustainability strategy. Jelmoli is pleased to be the first retailer on board this innovative app.”
Mr. Ponzetta concluded, "The launch of the 12Sconti APP is the first step in our plans to help retailers increase the number of shoppers in their stores while solving various problems faced by perishable goods vendors around the globe. We also think that Jelmoli will take a close look at our 12 Technology Suite in the future as we can provide a positive value proposition for their luxury goods business."
About Jelmoli:
With a history dating back to 1833, Switzerland’s leading premium department store offers exclusive international and Swiss brands on six floors. Over 2 million items from more than 1 000 brands are displayed for a diverse and demanding clientele on around 24 000 square meters of space divided across the six stories. Over 1 000 qualified employees create an atmosphere of well-being, high-quality advice and a positive shopping experience.
About 12 ReTech Corporation:
At our core, we are a software company whose technology allows retailers to combat the dual threats of Walmart and Amazon — both online and in physical stores. Our microbrand rollup acquisition strategy allows us to demonstrate the effectiveness of our software, devise and test new products, while providing shareholder value through immediate revenue and earnings growth. The Company operates through our subsidiaries on three continents: 12 Hong Kong, Ltd., 12 Japan, Ltd., 12 Europe A.G., 12 Retail Corporation (and its subsidiary in North America, E-Motion Apparel, Inc.). For more information please visit our website at www.12ReTech.com.
12 ReTech Corporation is publicly listed on the OTC Markets under the symbol RETC.
Safe Harbor: This document contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the ability of the Company to successfully implement its turnaround strategy, changes in costs of raw materials, labor, and employee benefits, as well as general market conditions, competition and pricing. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this letter will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as representation by the Company or any other person that the objectives and plans of the Company will be achieved. In assessing forward-looking statements included herein, readers are urged to carefully read those statements. When used in the Annual Report on Form 10-K, the words "estimate," "anticipate," "expect," "believe," and similar expressions are intended to be forward-looking statements.
Investor Relations Contacts:
Mark Gilbert
Magellan FIN, LLC
mgilbert@magellanfin.com
317-361-2392 (USA)
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