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TORONTO, ON --(Marketwired - March 22, 2016) - Leading visual product search platform Slyce Inc. (TSX VENTURE: SLC) ("Slyce") today announced that it has officially launched visual search technology with leading US footwear and accessories retailer, Shoe Carnival (NASDAQ: SCVL).
The integrated, fully automated 3D visual search technology enables mobile visitors to ShoeCarnival.com to snap a picture of any footwear, either in the real-world, or alternatively, from sources such as magazine pages, and, with no time latency, be presented with all direct or closest matching products from the extensive Shoe Carnival product line. These items can then be purchased with just a few taps.
Kent Zimmerman, VP of eCommerce at Shoe Carnival said, "We're very excited to be launching mobile visual search functionality with Slyce. Mobile is a big part of our multi-channel strategy, and we're always looking for ways to stay ahead of the innovation curve and provide our customers with the most convenient shopping experience possible."
Headquartered in Evansville, IN, Shoe Carnival is one of the largest US footwear retailers and operates 400 stores in 34 states and Puerto Rico.
Slyce CEO Mark Elfenbein said, "This deployment by Slyce with Shoe Carnival represents another impressive milestone for our Company as it is one of the very first, large-scale, fully automated visual search deployments in the marketplace. Requiring only a single snap -- i.e. no need for additional data to be input by the user -- and with rapid response times, it offers an exceptionally easy and intuitive experience for users."
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.
About Slyce Inc.
Slyce, based in Toronto, ON, delivers sophisticated visual search technologies and is currently focused on enabling a powerful sales channel for major retailers and their customers. Consumers, wherever they are, can conveniently engage with retailers by taking pictures of desired products using their mobile devices, thereby initiating the visual search service with near-instant product recognition capability. The Company delivers its technology both as a white-label visual search platform and as a suite of consumer mobile apps. Slyce's technology is used by large retail brands such as Neiman Marcus, Tilly's, JCPenney, Urban Outfitters, and Home Depot.
Slyce's business model features multiple revenue streams arising from its visual search platform and consumer apps. The revenue streams include fees for software licensing, integration, purchase transactions, and program promotions.
For image download and further Company information please click for the Slyce Media Kit.
About Shoe Carnival Inc.
Shoe Carnival, Inc. is one of the nation's largest family footwear retailers, offering a broad assortment of moderately priced dress, casual and athletic footwear for men, women and children with emphasis on national and regional name brands. As of September 11, 2015, the Company operates 400 stores in 34 states and Puerto Rico, and offers online shopping at www.shoecarnival.com. Headquartered in Evansville, IN, Shoe Carnival trades on The NASDAQ Stock Market LLC under the symbol SCVL. Shoe Carnival's press releases and annual report are available on the Company's website at www.shoecarnival.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this press release contain forward-looking information including, without limitation, Slyce's business plan, strategy and related milestones, Slyce's suggestions of future outcomes, the future use and development of its technology, future customers and business partners. The words "will," "anticipate," "believe," "estimate," "expect," "intent," "may," "project," "should," and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by Slyce.
Readers are cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Slyce.
Slyce does not undertake any obligation to update or revise any forward-looking statements except as expressly required by applicable securities laws.
None of the information contained on, or connected to, Slyce's website is incorporated by reference herein.