INSPIFY identifies business potential in APAC, the US and the Middle East, and expands further into luxury spending hubs Dubai, Hong Kong, London, New York, and Shanghai, on top of its Singapore headquarters.
SINGAPORE, May 21, 2019 /PRNewswire/ -- INSPIFY Pte Ltd, the leading provider of digital solutions catered for the luxury retail industry, announced the first of its overseas ventures last month, a year ahead of its initial 3-year plan.
"Regional expansion has always been in the works for INSPIFY, with a key focus on the top shopping destinations around the world. These cities are very strong drivers for the luxury sector, thanks to growing levels of affluence and a burgeoning middle class," said Mr. Thorsten Walther, CEO of INSPIFY Pte Ltd. According to the 2018 luxury study by Bain & Co., the Personal Luxury Goods market is estimated to be worth EUR260 Billion, with Asia accounting for 32% of the entire market.
"Consumers are increasingly going digital. As a result, the retail industry needs to evolve and integrate technology within their boutiques to create a shopping experience tailored for the digital consumer. We look forward to collaborating with more brands to revive the retail landscape around the world," Walther added. By 2025, it is projected that 100% of luxury purchases will be influenced by an online interaction.
Since November 2018, INSPIFY has partnered with luxury Swiss watch manufacturer IWC Schaffhausen to elevate its boutique experience for clients in Singapore. INSPIFY enhances the selling ceremony by curating informative online content around each timepiece. At the same time, enriching customers' shopping experience through edutainment retailing.
"As a luxury brand, IWC is one of the most focussed on storytelling. Each of the company's six iconic watch lines is surrounded by an extraordinary narrative that goes beyond the product," highlighted Mr. Stanislas Rambaud, Managing Director for IWC South East Asia. "The implementation of INSPIFY's technology in our boutiques has further enabled us to make an emotional connection, with our clients, in this digital age."
In light of its accelerated growth, INSPIFY has plans for further expansions into neighbouring South East Asia nations. They are currently in talks to expand into Vietnam by the end of 2019.
About INSPIFY
INSPIFY is a Singapore-based technology company that bridges the gap between online and retail shopping in the luxury sector. Our digital solutions help the luxury retail industry offer a seamless shopping experience for their consumers.
For users: INSPIFY enables users to discover inspirations and within a few clicks, directs them to where they can buy what they have just read. We curate quality digital content from publishers, social media posts and connect them to specific products and offerings in stores.
For brands: Through INSPIFY, brands can tell the story behind each product. With our patented technology, we are able to integrate digital content around each product in the boutique to create fully immersive shopping experience. Our goal is to help brands improve retail performance by bringing digital innovation into the retail landscape.
Learn more at www.inspify.com
About IWC Schaffhausen
With a clear focus on technology and development, the Swiss watch manufacturer IWC Schaffhausen has been producing timepieces of lasting value since 1868. The company has gained an international reputation based on a passion for innovative solutions and technical ingenuity. One of the world's leading brands in the luxury watch segment, IWC crafts masterpieces of haute horlogerie at their finest, combining supreme precision with exclusive design. As an ecologically and socially responsible company, IWC is committed to sustainable production, supports institutions worldwide in their work with children and young people, and maintains partnerships with organizations dedicated to climate and environmental protection.
For more information, please contact:
Angela Lee
Marketing Executive
+65-9071-5025
pr@inspify.com
Kenny Loh
Public Relations Manager, IWC South East Asia
kenny.loh@iwc.com
