SAN FRANCISCO, May 07, 2024 (GLOBE NEWSWIRE) -- Simbe, the leading provider of Store Intelligence™ solutions that increase retailer performance through unprecedented visibility and insights, today announced a partnership with Plexus Corp. to bring its best-in-class retail robotics-as-a-service to market quickly and at global scale. This partnership has been rigorously validated through the past year's production ramp, supporting Simbe's rapid, chainwide retail deployments. It will assist Simbe’s growing operations and customer base, which spans numerous countries, enabling the company to meet surging interest from prospective retail partners around the world.
Plexus Corp. is the electronics manufacturing services (EMS) industry leader in the design, manufacture, and service of highly complex products and demanding regulatory environments. Plexus partners with global, market-leading Healthcare/Life Sciences, Industrial, and Aerospace and Defense companies to provide innovative design and development, supply chain, new product introduction, manufacturing, and sustaining services solutions across its 26 facilities in the AMER, APAC, EMEA, and LATAM regions. This robust manufacturing partnership will empower a growing network of ecosystem and technology leaders like Avery Dennison Corp, Google Cloud, Hewlett Packard Enterprise, Intel, NVIDIA, and others.
“Simbe is an innovative and respected leader in the retail robotics market, and we’re delighted to aid in scaling their business through our industry-leading engineering and manufacturing solutions,” said Brian Wilson, Plexus’ Market Sector Vice President - Industrial. “Our partnership bolsters Simbe’s state-of-the-art technology in support of Plexus’ vision to help create products that build a better world.”
With more than four decades of experience and a team of over 20,000, Plexus delivers the expertise required to help Simbe accelerate the production and shipment of its advanced technology to retail customers globally. Simbe's operations are concentrated in Plexus' locations that have the capacity to produce thousands of new units each day.
“Throughout our first year of work together, Plexus has proven their commitment to supply chain, capacity, and quality to facilitate global production," said Gary Galensky, COO of Simbe. “This strategic partnership ensures that Simbe can continue to meet the rising market demand for cutting-edge retail technology and help our customers solve operational inefficiencies, boost revenue, and enhance the overall in-store experience.”
The demand for retail technology has reached a crucial tipping point, according to a Coresight Research report released in March 2024. On average, retailers are losing at least 4.5% in revenue to in-store inefficiencies. To address revenue gaps, the majority of retailers will invest up to 9 figures annually in new in-store technology to improve performance across inventory management, operations, and planning.
This news follows a year of steadfast growth for Simbe. In 2023, the company recorded a 3X increase in its subscription revenue base. Thus far in 2024, Simbe has introduced the industry’s first intelligence platform for wholesalers, building on a successful launch and chain-wide deployment with BJ's Wholesale Club in four months; expanded its partnership with SpartanNash to an additional 60 locations; and announced the expansion of its leadership team with the strategic hiring of several key executives.
About Simbe
Simbe’s market-leading Store Intelligence™ platform increases retailer performance with unprecedented visibility and real-time insights. Cutting-edge AI and robotics power business-critical intelligence that streamlines inventory management and store operations, while elevating store teams and shoppers’ experiences.
Simbe’s comprehensive platform includes the world’s first autonomous, item-scanning robot, Tally, which identifies exact product location, stock level, and pricing & promotion information with market-leading computer vision. Simbe works with top worldwide brands in the US, Europe and Asia. For more information, visit www.simberobotics.com.
About Plexus
Since 1979, Plexus has been partnering with companies to create the products that build a better world. We are a team of over 20,000 individuals who are dedicated to providing Design and Development, Supply Chain Solutions, New Product Introduction, Manufacturing and Sustaining Services. Plexus is a global leader that specializes in serving customers in industries with highly complex products and demanding regulatory environments. Plexus delivers customer service excellence to leading companies by providing innovative, comprehensive solutions throughout a product’s lifecycle. For more information about Plexus, visit our website at www.plexus.com.
Media Contact:
Caitlin Allen
Simbe Robotics
SVP of Market
press@simberobotics.com
