The shoppers of today — think millennials and Generation Z — want products when and where they please. It’s little wonder, then, that footwear brands and retailers are doing what they can to keep up. In response, tech companies are also joining forces to help businesses boost efficiency and expedite time to market.
Case in point: Dassault Systèmes is set to acquire a majority stake in Silicon Valley-headquartered Centric Software. A spokesman for Dassault explained that the company chose to make the investment in order to “accelerate [the] digital transformation” of fashion and retail companies.
“Our combined expertise … will allow us to accelerate the development of market-driven innovations [with an aim] to help our customers develop a competitive advantage and fuel growth,” said Chris Groves, president and CEO of Centric Software.
To help these businesses cater to growing on-demand shopping preferences, the spokesman said that speed to market will be a primary focus of the venture. Specifically, the move will leverage Centric Software’s breadth in PLM and Dassault Systèmes’ 3DExperience platform — an offering that combines 3-D design, analysis, intelligence software and simulation for businesses.
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According to Bernard Charlès, vice chairman and CEO of Dassault Systèmes, Centric Software will remain independently operated.
Bandel Carano, managing director of Oak Investment Partners — an investor in Centric Software — said the partnership’s forthcoming offerings will be targeted at “a vast yet radically underserved industry yielding compelling economic efficiencies of end-to-end digital transformation.”
The spokesman noted that Centric Software’s customers include Asics, Under Armour and Louis Vuitton.
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