Aptos to acquire product management solutions company TXT Retail
Aptos, the retail technology solutions company partnered with Tailored Brands and Cole Haan, announced on Tuesday that it has entered into a definitive agreement to acquire merchandise management solutions company TXT Retail.
Based in Milan, TXT Retail is the first mover and leading provider of End-To-End Merchandise Lifecycle Management solutions for the luxury, fashion, and specialty retail sectors. The company services over 500 global brands, including Louis Vuitton, Dior, Adidas, Moncler, Safilo, Sephora, Furla, Loewe, Guess, Lacoste, and Urban Outfitters, among others.
"To succeed in today's demanding retail environment, you must fully understand your customers and profitably align your offerings with their preferences in every channel,” said Simone Pozzi, TXT Retail CEO.
“The combination of Aptos' customer engagement prowess with TXT Retail's integrated, end-to-end merchandise lifecycle management solution will allow retailers to pursue the business transformations that are critical to their success while engaging customers differently, no matter when, where or how they shop."
The acquisition, which is expected to close in September 2017, will combine Aptos’ customer engagement and inventory management with TXT Retail’s merchandise lifecycle management suite. In addition, the combined customer base will include over 1,000 retail brands.
"Aptos' planned acquisition of TXT Retail offers retailers a unique enabler in aligning omni-channel strategy with execution, fast-tracking the merchandise lifecycle, optimizing assortments, and ensuring consumer demand is met," said Noel Goggin, Aptos CEO and culture leader.
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