Alibaba Invests in Smartrac to Enhance Brand Protection
Jul. 10, 2018
AMSTERDAM--(BUSINESS WIRE)--Jul 10, 2018--Smartrac Technology Group announced today that Alibaba Group will invest in the company, reinforcing both parties’ commitment to strengthen brand protection strategies.
Michael Evans, President of Alibaba Group, will join Smartrac’s Supervisory Board.
Smartrac has developed a comprehensive suite of RFID-based solutions that utilize the company’s Internet of Things platform, Smart Cosmos. Smartrac’s IoT solutions enable brand product manufacturers to securely create and embed a unique digital identity into each individual product at the point of manufacture, at scale. This product identity can only be issued by the brand and can’t be faked, copied, stolen or lost. Thus, it provides full control and visibility of each genuine product throughout its product lifetime. In addition, brand owners can deliver exclusive and dynamic content to their consumers to increase customer engagement, loyalty and satisfaction, at the simple tap of a phone.
“At Alibaba, we are continuously innovating and partnering to provide market-leading solutions and highest levels of brand protection for our clients,” said Michael Evans, President of Alibaba Group. “We are thrilled to support Smartrac and together provide brands with innovative product authentication solutions at scale.”
“Smartrac provides premium product manufacturers and their customers with ultimate yet scalable solutions to protect and enhance brands”, said Christian Uhl, CEO and Chairman of the Management Board, Smartrac Technology Group. “We feel honored by Alibaba’s confidence that our technological expertise will provide brands and consumers with best-in-class product authentication and customer experience solutions”.
Smartrac is a leading vendor of RFID products and IoT solutions, providing both ready-made and customized offerings. We make products smart, and enable businesses to identify, authenticate, track and complement products and solutions. Our portfolio is used in a wide array of applications such as animal identification, automation, automotive, brand experience, industry, library and media management, laundry, logistics, retail, supply chain management and many more. Leveraging our global Research & Development Centers, production and sales network, and IoT-enablement platform Smart Cosmos ®, we embed intelligence into physical products, empowering the ecosystem of connected things. Smartrac has its registered headquarters in Amsterdam, the Netherlands. For more information, visit www.smartrac-group.com, follow Smartrac on Twitter or sign up for a quarterly newsletter.
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SOURCE: Smartrac Technology
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PUB: 07/10/2018 05:11 AM/DISC: 07/10/2018 05:10 AM