Brandquad, the Russian developer of a digital platform for managing product data, entered the European market opening offices in the French city of Lille and Paris. This is the second overseas startup office, the first one opened a year ago in Dubai. The company’s headquarters will be in Lille.
“It’s obvious really, having a base in Lille means we are equidistant from our customers in the major European capitals, London, Brussels, Luxembourg, Cologne, and Amsterdam. Lille is a great place for retail. It also has the technological universities we need for recruitment. We want to set up a research and development center here,” said Anthony Despres-Ottavi, Director of Development
In December 2019 Brandquad successfully completed the acceleration in Lafayette Plug & Play, becoming the best startup in the retail sector among the startups of the 7th Batch.
Now the French market is the key for the company — here are based on the head offices of the Brandquad’s clients in Russia. The company’s platform optimizes the product data-handling and accelerates the processes of content distribution and analytics, which can potentially increase sales by 4% per week.
In three years since the company was founded, dozens of FMCG (Fast Moving Consumer Goods) and pharmaceutical companies have become Brandquad’s clients in Russia. Among them: Estee Lauder, L’Oreal, INOA, Stada, Bayer, Nestle, Hasbro, Grohe, etc. Earlier this year, the company attracted private investment of $3.5 million, some of which will be directed to international expansion to provide services to global and European companies not only in Russia but also around the world.
Brandquad expects to launch several dozen projects with major manufacturing corporations over the next year.
According to Plytix, the global market for product information management automation systems will reach $48 billion by 2026 with an average annual growth of 25%.
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