Largest Order Win for Flagship Fashion Product

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	Robert Price, Chief Financial Officer	T: 0161 876 4498
finnCap Limited (NOMAD & Broker)	Julian Blunt (Corporate Finance) Sunila De Silva (Corporate Broking)	T: 020 7220 0500
KTZ Communications	Katie Tzouliadis/ Robert Morton/ Dan Maloney	T: 020 3178 6378

 

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