Skyfii adds fashion giant Versace to growing IO Connect client list

Versace Skyfii ASX SKF IO Connect
Skyfii will roll out its IO Connect platform across Versace’s 45 retail outlets in Europe.

Skyfii (ASX: SKF) has added luxury fashion brand Versace to its growing client base after the duo inked a 12-month contract.

Under the contract, data analytics and marketing services provider Skyfii will roll out its IO Connect platform across Versace’s 45 retail outlets in Europe.

According to Skyfii, its platform’s scalability, ease of use and integration capabilities with wireless infrastructure partner Aruba Networks were key to it bagging the contract.

Versace’s operations and marketing teams will encourage customers to use a “high-quality” guest WiFi integrated with IO Connect.

The teams will then draw on IO Connect data to understand customer dwell times, visitation and demographic trends.

Skyfii’s Europe-based partners Telcomms and Project Informatica will deliver the contract.

Then, if the initial 12-month contract is successful, Versace has shown an interest in inking a longer-term agreement and extending its subscription to include Skyfii’s IO Insights product.

“Securing such a prestigious and globally recognised luxury brand represents another successful milestone for Skyfii as we enter into the European fashion space,” Skyfii chief operating officer John Rankin said.

Skyfii IO platforms

Skyfii’s IO software includes IO Connect, IO Insight and IO Engage, which assist companies with collecting and analysing data to gain a better understanding of their customer and visitor behaviours.

IO Connect is primarily designed to gather data, while IO Insight can offer analytics on venue performance, customer behaviour, loyalty and engagement. The IO Engage offering helps companies target customers more specifically for marketing.

In January this year, Skyfii landed major financial institution HSBC Bank Australia as a client. Skyfii’s client portfolio expanded overseas to include Nuffield Health in the UK in March, with the company securing two more Australian clients in April: Precision Group and Lewis Land Group Australia.

Improving financial performance

During the nine months ending March 2018, Skyfii achieved total operating revenues of A$4.2 million, which was a 99% increase on the previous corresponding period’s A$2.1 million.

In it’s March quarter report, Skyfii stated it anticipated to generate more than A$6 million in revenue for the 12 months ending June 2018.

Skyfii’s share price soared more than 12% in more trade to reach A$0.18 mid-morning.

Lorna has more than 10 years experience as a finance journalist and editor. She has written for an array of industry publications reporting on various sectors, including: resources, energy, construction, biotech, pharma, science and technology, agriculture, and chemicals. Specialising in resources, Lorna has covered a myriad of small and large cap ASX and dual-listed stocks.