TORONTO, ONTARIO--(Marketwired - Oct. 6, 2015) -
Editor's Note: There is a video associated with this release.
Visual product search platform Slyce Inc. (TSX VENTURE:SLC) ("Slyce") today announced a signed contract with specialty retailer Urban Outfitters to power visual search for mobile commerce.
Founded in 1970, Urban Outfitters has more than 230 stores in the United States, Canada and Europe, and operates as a division of Urban Outfitters, Inc. (NASDAQ:URBN), a leading lifestyle specialty retail company that also comprises the Anthropologie, Bhldn, Free People and Terrain brands.
Slyce will derive revenues from the contract through monthly recurring software licensing and service fees, in line with its current pricing model, over the term of the contract.
About Slyce Inc.
Slyce, (TSX VENTURE:SLC)(FRANKFURT:06O1) based in Toronto, ON, delivers sophisticated visual search technologies and is currently focused on enabling a powerful sales channel for major retailers and their customers. Consumers, wherever they are, can conveniently engage with retailers by taking pictures of desired products using their mobile devices, thereby initiating the visual search service with near-instant product recognition capability. The Company delivers its technology both as a white-label visual search platform and as a suite of consumer mobile apps. Slyce's technology is used by large retail brands such as Neiman Marcus, Tilly's, JCPenney and Home Depot.
Slyce's business model features multiple revenue streams arising from its visual search platform, consumer apps and corresponding data services. The revenue streams include fees for software licensing, integration, purchase transactions, program promotions and data analytics.
For image download and further company information please click for the Slyce Media Kit.
About Urban Outfitters, Inc.
Urban Outfitters, Inc. is an innovative specialty retail company which offers a variety of lifestyle merchandise to highly defined customer niches through 240 Urban Outfitters stores in the United States, Canada, and Europe, catalogs and websites; 203 Anthropologie Group stores in the United States, Canada and Europe, catalogs and websites; 102 Free People stores in the United States and Canada, catalogs and websites; Free People wholesale, which sells its product to approximately 1,500 specialty stores and select department stores worldwide; and 2 Terrain garden centers and a website, as of December 31, 2014.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this press release contain forward-looking information including, without limitation, Slyce's business plan, strategy and related milestones, Slyce's suggestions of future outcomes, the future use and development of its technology, future customers and business partners. The words "will," "anticipate," "believe," "estimate," "expect," "intent," "may," "project," "should," and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by Slyce.
Readers are cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Slyce.
Slyce does not undertake any obligation to update or revise any forward-looking statements except as expressly required by applicable securities laws.
None of the information contained on, or connected to, Slyce's website is incorporated by reference herein.
To view the video associated with this release, please visit: https://www.youtube.com/watch?v=cJupFMy9Ugg.