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TechnologyDec 04, 2018
Swarovski, Chow Tai Fook Invest in Atelier Technology
A consortium of five companies have put money behind the cloud-based, business-to-business inventory platform.
London—Some of the industry’s biggest companies are putting their support behind Atelier Technology.
The company announced Tuesday that it has secured funding from a consortium of five companies led by Swarovski and Chow Tai Fook. The amount of the investment was not disclosed.
Atelier Technology is the creator of a cloud-based inventory, communication and trading platform for jewelry retailers, wholesalers, brands and manufacturers.
The business-to-business platform said it strengthens clients’ competitive position by tightening the supply chain, shortening time to market and removing operational barriers to growth.
Features include a real-time interactive design suite and real-time pricing, price targeting and negotiation, trade show and mobile applications, work chat and more.
When asked what projects the company will use the investment for, Hill told National Jeweler the funds would go toward native applications in Windows, iOS and Android that are already mid-build.
“The entire industry will agree that today we need to bring many more styles to market than yesterday, just to reach the same turnover. Simply put, everybody is doing more work and earning less profit,” Hill said.
“We built Atelier as a solution to this problem: a comprehensive digital platform that connects the supply chain, eliminating unnecessary administration, and empowering the jewelry industry to adapt to the demands of the 21st century consumer.”
Launched in 2014, Atelier Technology serves more than 400 companies at all points along the jewelry supply chain.
The platform is free for everyone to try, with restrictions only on bandwidth.
Unlimited accounts start at $99 per month per user, allowing companies to grow their cost in line with return on investment, Hill said.
Atelier Technologies’ headquarters are in London. The company also has offices in Italy, Thailand and Ukraine and plans to open offices in China and the United States next year.
Hill said the company has senior sales executives in Chicago and New York but will need dedicated office space whey they expand stateside training next year. The company plans for an office in midtown Manhattan and potentially also in Dallas.
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