REG - K3 Bus Tech Grp PLC - Largest Order Win for Flagship Fashion Product

K3 Business TechnologyAnnouncement

07/03/2023 07:00

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RNS Number : 0612S  K3 Business Technology Group PLC  07 March 2023

 

7 March 2023

AIM: KBT

K3 BUSINESS TECHNOLOGY GROUP PLC

("K3" or "the Group" or "the Company")

 

Provider of business-critical software solutions focused on fashion and
apparel brands

 

Largest Order Win for Flagship Fashion Product

 

K3, which provides business‐critical software solutions focused on fashion
and apparel brands, is pleased to announce the signing of its largest ever
software licence contract for its flagship fashion product, K3 fashion. The
three-year software contract has a gross value of EUR 1.6m and has been agreed
with a global luxury apparel group.

 

The luxury retailer was secured as a new customer last January 2022 via K3's
channel partner network.  At that time, the customer bought EUR 30k of
software licences in a 12-month contract covering the piloting of the product.
With the success of the pilot, the software contract has been expanded
substantially, with this sales process being typical for K3 fashion. The new
contract has significantly increased the total value of annualised recurring
contracts of strategic products.

 

K3 fashion is an enterprise solution, based on Microsoft Dynamics 365 and was
specifically developed for the fashion and apparel markets. It is endorsed by
Microsoft as its globally recommended 'add-on' for the fashion sector. It is a
comprehensive 'concept-to-consumer' solution that enables customers to manage
more effectively all processes connected to product design, manufacturing,
supply and returns.  Its modules also specifically address customers'
Sustainability issues, including supply chain traceability and enable seamless
engagement with end-customers across all sales channels, digital and physical.
It is typically bought as a cloud-based Software-as-a-Service (SaaS) solution.

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the company's obligations under Article 17 of
MAR.

 

 

Enquiries:

 

 K3 Business Technology Group plc      Marco Vergani, Chief Executive Officer
 www.k3btg.com (http://www.k3btg.com)  Robert Price, Chief Financial Officer         T: 0161 876 4498

 finnCap Limited                       Julian Blunt (Corporate Finance)              T: 020 7220 0500

 (NOMAD & Broker)                      Sunila De Silva (Corporate Broking)

 KTZ Communications                    Katie Tzouliadis/ Robert Morton/ Dan Maloney  T: 020 3178 6378

 

 

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