Long Island City, NY, July 11, 2019 (GLOBE NEWSWIRE) -- - Cemtrex (Nasdaq: CETX, CETXP, CETXW), a leading technology company, today announced it has developed for luxury brands housed under Richemont, Arcadium - an upcoming immersive augmented reality (AR) experience featuring seven innovative experiences. Arcadium’s augmented reality experience is custom engineered and designed by Cemtrex for Cartier, Jaeger-LeCoultre, Montblanc, Officine Panerai, Piaget, Vacheron Constantin and IWC Shaffhausen. The experiences will be unveiled in New York City’s Hudson Yards on July 11, 2019.
“We are thrilled to showcase these groundbreaking AR experiences.” said Saagar Govil, CEO and Chairman of Cemtrex. “This project aligns perfectly with our mission to create revolutionary experiences through technology and gives us an amazing platform to showcase our innovative team of designers and developers. We believe this experience will pioneer how retail companies utilize Augmented Reality to transcend their brands into the digital future. We believe this project represents the first of many opportunities to collaborate with leading brands that want to differentiate themselves through technology for years to come.”
The Arcadium experience will tell the stories of the Richemont Maisons – with a nod to their heritage, craftsmanship, and creativity – in a truly modern way. Visitors will be invited to enter the 3-D worlds of Cartier, IWC, Jaeger-Le-Coultre, Montblanc, Panerai, Piaget, Vacheron Constantin, and Van Cleef & Arpels.
Augmented and Virtual Realities are among of the fastest growing business areas, which are expected to reach over $500 billion by 2025. The industries that will generate VR and AR opportunities include: industrial design, medical diagnostics, entertainment, sports, training simulations, productivity tools, social experiences, manufacturing optimization, app development, tourism, & advertising. All industries whether retail, education, social media, healthcare or manufacturing, will experience widespread disruption and innovation in their products and services by utilizing VR & AR solutions to increase their profitability in the coming decade.
The pop-up is free and open to the public from Friday, July 12 to Thursday, July 25 at The Shops & Restaurants at Hudson Yards (4th Floor). Opening hours are 10 a.m. – 5 p.m., Monday to Thursday, 10 a.m. – 9 p.m., Friday and Saturday, and 10 a.m. – 5 p.m. on Sundays. Advance, timed ticketing is currently available through Eventbrite or at https://www.arcadiumhy.com/.
For a video about the Arcadium experience: https://vimeo.com/345498388
To learn more about Cemtrex's software development services please visit cemtrexlabs.com.
About Cemtrex
Cemtrex, Inc. (CETX) is the manufacturer of the SmartDesk, the world’s most advanced workstation. Cemtrex is a diversified technology company that's driving innovation in a wide range of sectors, including smart technology, virtual and augmented realities, advanced electronic systems, industrial solutions, and intelligent security systems.
www.cemtrex.com
Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to our new product offerings or any proposed fundraising activities. These forward-looking statements are based on management's current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements. These risks and uncertainties include, but are not limited to: operational losses and negative cash flows; any need for additional financing; market acceptance of our products; our ability to manufacture and develop effective products and solutions; indebtedness to our lenders; current and future economic conditions that may adversely affect our business and customers; potential fluctuation of our revenues and profitability from period to period which could result in our failure to meet expectations; our ability to maintain adequate levels of working capital; our ability to incentivize and retain our current senior management team and continue to attract and retain qualified scientific, technical and business personnel; our ability to expand our product offerings or to develop other new products and services; our ability to generate sales and profits from current product offerings; rapid technological changes and new technologies that could render certain of our products and services to be obsolete; competitors with significantly greater financial resources; introduction of new products and services by competitors; challenges associated with expansion into new markets; and, other factors discussed under the heading "Risk Factors" contained in our Form 10-K filed with the Securities and Exchange Commission. All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law.
Attachment