12 ReTech Corporation is engaged as a software development company, which aims to help retailers better compete with major e-commerce companies like Amazon.com, Inc. (NASDAQ: AMZN) and Wal-Mart Stores, Inc. (NYSE: WMT). The software company is soaring 64% through afternoon trading on Tuesday, August 14, 2018. Over the past month, 12 ReTech Corporation has seen average daily volume of 168,970 shares. However, volume of 270,691 shares or dollar volume of $9,474, has already exchanged hands through late trading on Tuesday.
Shares of 12 ReTech Corporation are surging today after the company announced plans to open a technology demonstration facility in Zurich, Switzerland. This comes as the company is partnering with Pietro Coppola, who will be added to the company’s 12 Europe subsidiary’s Board of Directors. Management wants the showroom to fully demonstrate the fully integration of its 12 Technology Suite to European luxury brands and retailers. The construction is beginning now and will be operational during the 2018-2019 winter season. Here is the full press release detailing of the technology demonstration facility in Switzerland:
12 ReTech Corporation Press Release:
Carson City, NV & Hong Kong, Aug. 14, 2018 (GLOBE NEWSWIRE) — 12 ReTech Corporation (OTCQB: RETC) announced today that it will be opening a technology showroom in Zurich, Switzerland partnering with Pietro Coppola, who will become a member of 12 Europe’s Board of Directors. This showroom will allow the Company to demonstrate the fully integrated 12 Technology Suite to European luxury brands and their retail partners. The Company intends to use this showroom to demonstrate the value proposition that our 12Mirror, 12AdScreen, 12SkyEye, 12InStore App and 12Mobile App solutions offer to retailers.
Angelo Ponzetta, 12 ReTech’s CEO stated, “We have been looking for a suitable demonstration facility in Europe for some time now. Partnering with Mr. Coppola makes sense as he has tenured experience and long-lasting relationships in the fashion and luxury goods retail industries. Our new partnership will give us the opportunity to work with Europe’s most famous luxury brands as well as their most prestigious retailers. Soon, we will be able to demonstrate what our technology can do for their businesses in this modern facility.
Angelo Ponzetta continued, “The new facility will not only serve to demonstrate our technology, but it will also become a showroom for European luxury goods and high-end fashion. It will feature dressing rooms and retail displays in a floorspace of more than 2,000 square feet. We plan to revolve brands through the space to constantly feature new ideas for the retailers that will visit us. We will be integrating our 12 Technology Suite into the fabric of the showroom operations so that leading designers can show their fashion collections with the use of our technology (by appointment only). This represents an excellent way to get in front of Europe’s prestigious retailers and show them how our technology can provide value to their businesses.”
Construction on the new facility begins in the next few weeks and we expect to be able to host our first shows in time for the 2018 to 2019 winter season.
About Pietro Coppola:
After graduating with a Bachelor of Arts degree, Pietro worked for various retailers of luxury goods brands in Europe. In a stint with Anteprima Diffusione Moda A.G., he was involved with the expansion of Swiss sales channels for many of the men’s underwear European brands, including Armani, Versace, La Perla and others. Later, he bought into the company and obtained licenses for the same brands for Austria and Germany.
In 1995, he formed the fashion agency Pietro Coppola, A.G. and took over the brands from Anteprima, expanding at the same time into sportswear, beachwear and accessories with these same brands, while adding new brands to his portfolio, including Dolce & Gabbana, Versace Sport, Fendi, Kenzo, Fiorucci, Emilio Pucci and others.
Pietro helped many of these brands to design and build their own standalone retail stores within his licensed territories.
About 12 ReTech Corporation:
At our core, we are a software company whose technology allows retailers to combat the dual threats of Walmart and Amazon — both online and in physical stores. Our microbrand rollup acquisition strategy allows us to demonstrate the effectiveness of our software, devise and test new products, while providing shareholder value through immediate revenue and earnings growth. The Company operates through our subsidiaries on three continents: 12 Hong Kong, Ltd., 12 Japan, Ltd., 12 Europe A.G., 12 Retail Corporation (and its subsidiaries in North America, including Emotion Fashion Group, Inc.). For more information please visit our website at www.12ReTech.com.
12 ReTech Corporation is publicly listed on the OTCQB Markets under the symbol RETC.
Safe Harbor: This document contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the ability of the Company to successfully implement its turnaround strategy, changes in costs of raw materials, labor, and employee benefits, as well as general market conditions, competition and pricing. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this letter will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as representation by the Company or any other person that the objectives and plans of the Company will be achieved. In assessing forward-looking statements included herein, readers are urged to carefully read those statements. When used in the Annual Report on Form 10-K, the words “estimate,” “anticipate,” “expect,” “believe,” and similar expressions are intended to be forward-looking statements.
