Invigor Group expands into Singapore with Dover Street Markets contract for WeChat Pay

IVO

The Sydney, Australia-based Invigor Group Limited (ASX: IVO), a B2B data intelligence company, provides data and analytics solutions comprising Insights 360, Loyalty 360 and WeChat suit of products to retail and service industries in Australia, Asia, and Germany. The Group offers actionable insights and recommendations that assist businesses to develop and influence future customer strategy and increase long-term profitability.

On April 12th, 2019, Invigor announced to have secured another major deployment of the WeChat Pay platform in Singapore from the world-renowned multi-brand retailer Dover Street Market. For this, Invigor will integrate its proprietary Advertising and Loyalty technology offering into the WeChat Pay platform for the new retail concept that is opening in Singapore with a huge consumer following.

Dover Street Market Singapore is located near Singapore’s iconic tourist precinct and was introduced in Asia by Club 21. It is highly anticipated to have a vast tourism appeal with brands including Gucci, Comme des Garcons, Balenciaga, CDG, Green and Metal, Thome Browne, NikeLab, and Stephen Jones.

In Asia, there are only three such concept stores that prove the uniqueness of the business.

Prior to this, on April 10th, Club 21 had signed its first agreement with Invigor for the multi-brand deployment of the WeChat Pay platform. Accordingly, Invigor would integrate payment, advertising and loyalty offerings to WeChat Pay targeting customers that comprise a majority of Chinese tourists.

Club 21, a subsidiary of COMO Group, is Asia’s leading purveyor of luxury fashion with 3,800 employees across four continents. In the last four decades, it has managed over 250 brands across nearly 400 stores in Australia, China, Hong Kong, Taiwan, Singapore, Indonesia, Malaysia, Thailand, the United States and the United Kingdom.

After the ten maiden deployments of the WeChat Pay platform for the eight retailers and tourist operators in Singapore, the company has gained strong momentum in both online and offline environments, thus building sustainable revenue streams for itself.  The rapid growth further validates the tremendous value being derived from its partnership with Winning Group in 2018.

Also, in February 2019, Invigor’s 100%-owned German subsidiary, TillerStack, secured around $1,700,000 worth of new contracts. TillerStack offers sophisticated field service management (FSM) software solutions. These include a two-year $ 1,034,000-contract renewal with a leading European telecommunications company, UnityMedia to provide ongoing support and maintenance for its existing FMS solution installed by Invigor.

As per Invigor’s interim financial report for the year ended December 31st, 2018, the revenue from sales, licence fees and services from continuing operations from the core Loyalty and Pricing divisions amounted to ~ $ 1,251,000, up 74% on the $ 721,000 booked in 2017.  Besides, the TillerStack FMS business generated ~ $1,066,000 of revenue. The net loss after tax amounted to $ 12,334,000, down on $ 13,150,000 in the prior year.

The company has around 2.59 billion outstanding shares (market cap $ 10.38 million to date). The IVO stock price is trending at AUD 0.004 on Friday, April 12th, 2019 at 02:55 PM AEST.


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