K3 Business Technology Group PLC Largest Order Win for Flagship Fashion Product (0612S)
07 Mars 2023 - 8:00AM
UK Regulatory
TIDMKBT
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 Marco Vergani, Chief Executive
Group plc Officer
www.k3btg.com Robert Price, Chief Financial T: 0161 876 4498
Officer
finnCap Limited Julian Blunt (Corporate Finance) T: 020 7220 0500
(NOMAD & Broker) Sunila De Silva (Corporate
Broking)
KTZ Communications Katie Tzouliadis/ Robert T: 020 3178 6378
Morton/ Dan Maloney
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END
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March 07, 2023 02:00 ET (07:00 GMT)
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