Danavation Technologies Corp C.DVN

News

[tonyturbo]

Danavation Technologies Announces Digital Smart Labels™ Installation at Toys "R" Us Location in Thornhill, Ontario

TORONTO, June 17, 2021 /CNW/ - Danavation Technologies Corp. (CSE: DVN) ("Danavation" or the "Company"), a Canadian-based Internet of Things (IoT) technology company and provider of micro e-paper displays, is pleased to announce an initial installation for Danavation's Digital Smart Labels^™ Platform-as-a-Service (PaaS) technology at one of North America's iconic toy stores, the Toys "R" Us location in Thornhill, Ontario. Including the Thornhill Toys "R" Us location, Danavation now has nine full store installations and 13 pilot locations in place for a host of customers across North America.

Since opening the doors of its first Canadian store in 1984, Toys "R" Us Canada Ltd. ("Toys "R" Us") has served as a speciality retailer of toys and baby products at physical locations across Canada as well as e-commerce sites including Toysrus.ca and Babiesrus.ca. A subsidiary of Fairfax Financial Holdings Limited, Toys "R" Us has more than 80 stores nationwide offering a wide array of national brands, exclusive products, innovative loyalty programs and unique partnerships. Committed to giving back, Toys "R" Us is also an avid supporter of children and families through its charitable endeavors.  

"Working with Toys "R" Us to launch Danavation's Digital Smart Labels^™ at this popular Ontario store is a fantastic win-win for both companies. As a Canadian-based and managed company, Toys "R" Us is well aligned with our Canadian-based team," said John Ricci, CEO of Danavation. "The Thornhill Toys "R" Us location can benefit from digitized pricing at the shelf, efficient and accurate updating in a contactless process, and enable employees to focus on customer engagement within a Canadian market segment that generated $2.4 billion in sales during 2020¹."

Installation at the Thornhill location has already begun. This location will be the first Toys "R" Us store to showcase micro e-paper displays and to demonstrate the tremendous opportunity to expand adoption of Danavation's Digital Smart Labels^TM across their entire portfolio of more than 80 Canadian locations.

[Ciao]

It will be interesting to see how long it takes for other stores to adopt DSL after a store has fully installed  their system and have trailed them.

[lscfa]

I thought the idea was to charge a monthly fee to stores that included the cost of the equipment. That way there is no large upfront expense for the stores. But fins indicate co. recoups equipment costs immediately from stores which will slow adoption by cash strapped stores.