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titanicleseron Jun 28, 2016 8:58am
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Slyce Finalizes Contract With American Eagle Outfitters
Slyce Finalizes Contract With American Eagle Outfittershttps://m.marketwired.com/press-release/slyce-finalizes-contract-with-american-eagle-outfitters-power-image-recognition-mobile-tsx-venture-slc-2138055.htm Slyce Finalizes Contract With American Eagle Outfitters to Power Image Recognition and Mobile Visual Search
CALGARY, ALBERTA--(Marketwired - June 28, 2016) - Image recognition leader Slyce Inc. (TSX VENTURE:SLC)(FRANKFURT:06O1) ("Slyce") today announced a signed contract with global apparel retailer American Eagle Outfitters, to power mobile visual search within its mobile app. The retailer will utilize Slyce's Universal Scanner product, which enables image recognition of clothing and products, as well as catalog and barcode scanning.
Headquartered in Pittsburgh, Pennsylvania, American Eagle Outfitters operates more than 1,000 stores, and ships to 81 countries worldwide.
Slyce will derive revenues from the contract through monthly recurring software licensing and service fees, in line with its current pricing model, over the term of the contract.
Slyce's business model features multiple revenue streams arising from its visual search platform, consumer apps and corresponding data services. The revenue streams include, fees for software licensing, integration, purchase transactions, program promotions and data analytics.