4 July 2024
itim Group
plc
("itim"
or "the Company" and together with its subsidiaries "the
Group")
Contract
Win
itim Group plc, a SaaS based
technology company that enables store-based retailers to
optimise their businesses to improve financial performance, is
pleased to announce that it has signed a five-year
multi-million-pound contract with Assaí Atacadista ("Assaí"), the
largest Brazilian wholesaler, with more than 300 stores.
Founded in 1974, Assaí
distinguishes itself by
offering a diverse range
of products at competitive prices,
serving both businesses
and end consumers. In 2020, the company became independent, and
since then, its shares have been traded on the New York Stock
Exchange (NYSE) and São Paulo Stock Exchange (B3). In 2023, Assaí
reported turnover of approximately $13 billion and currently has a
market capitalisation of $2.5 billion.
This significant contract follows
the recent announcement that Assaí will be expanding its operations
across multiple regions, further strengthening its market
presence. Under this agreement, Assaí will
leverage itim's UNIFY Price & Promotions Optimisation solution
powered by Profimetrics AI to refine its pricing strategies and
boost competitiveness, reinforcing its
commitment to quality and affordability.
Itim's UNIFY Price and Promotions
Optimisation platform powered by Profimetrics AI provides its
retail customers with advanced analytical capabilities to optimise
prices and promotions, drive sales, and improve profitability by
leveraging data-driven insights.
It now is being used by 20 retailers
globally and by 6 of the top 10 Brazilian retailers, underlying its
capability of adding retail value.
Ali
Athar, CEO, commented: "We are delighted to have been selected by
Assaí to help power their pricing optimisation initiatives. This is
a significant endorsement of itim's product set and we look forward
to working with Assaí to make this project a great
success."
The execution of this contract is in
line with the Company's financial expectations for the current
financial year.
Enquiries:
|
Itim Group plc
|
Ali Athar, CEO
Ian Hayes CFO
|
0207 598
7700
|
|
WH
Ireland (NOMAD & Broker)
|
Katy Mitchell
Harry Ansell
Darshan Patel
|
0207 220
1666
|
|
IFC
Advisory
|
Graham Herring
Florence Chandler
|
0207 3934
6630
|
This announcement contains
inside information for the purposes of Article 7 of the UK version
of Regulation (EU) No 596/2014 which is part of UK law by virtue of
the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon
the publication of this announcement via a Regulatory Information
Service, this inside information is now considered to be in the
public domain.
ABOUT ITIM
itim was established in 1993 by its
founder, and current Chief Executive Officer, Ali Athar. itim was
initially formed as a consulting business, helping retailers effect
operational improvement. From 1999 the Company began to expand into
the provision of proprietary software solutions and by 2004 the
Company was focused exclusively on digital technology. itim has
grown both organically and through a series of acquisitions of
small, legacy retail software systems and associated applications
which itim has redeveloped to create a fully integrated end to end
Omni-channel platform.