Coloredge Strategic Initiative E Transforms Visual Marketing For Retail
NEW YORK, N.Y — FEBRUARY 07, 2019 —The initiative, which spans three key parts of Coloredge’s business, will leverage digital technologies to change the way in which customers can adapt more easily to rapidly changing paradigms and allows Coloredge to be more customer centric.
The initiative has been underwritten by a new multi-million-dollar investment from its privately held owner, Saints Capital. The amount of the investment was not disclosed.
Transforming How Business is Done
“We’re very excited to move ahead with this transformative new initiative at Coloredge,” says Emmanuel Doe, CEO of Coloredge. “This retail industry is evolving faster than ever, and with this evolution comes the need for new capabilities and technologies. This new initiative we are putting into place will dramatically enhance how the retail marketplace can utilize the new enhanced framework of Coloredge to respond quickly to their customers and adopt the digital transformation that is upon them. When fully implemented, it will enable us to deliver exciting, timely and revenue generating results for our customers, vendors and partners,” Doe adds.
“This latest investment in Coloredge underscores our deep commitment to the long-term success of Coloredge as a force for transformation in the industry,” says Ken Sawyer, managing director and co- founder of Saints Capital. “The eventual winners in this marketplace will be those companies that understand how to apply innovative approaches and accompanying technology to the needs of today’s and tomorrow’s customers. That’s what Coloredge is committing to with this new initiative.”
A Broad Three-Point Plan
The new strategic initiative announced by Coloredge is focused on three key areas:
1. A new collaborative digital technology platform to respond to the new consumer lifecycle. As part of an intensive expansion of digital and creative capabilities, Coloredge will be investing in a new collaborative system that will enable design, manufacturing, asset and creative sharing among Coloredge, clients and partners. This will also provide creative experiential insight, manufacturing templates and improve time and cost to market. This is an especially timely enhancement as the retail market looks for new ways to adopt digital transformation.
2. Expansion of East Coast Operations. The initiative will support the purchase of additional best in class equipment and highly skilled staff, resulting in an improved total cost of ownership for customers. The expansion will help Coloredge deliver the high-end visual displays that result in exceptional and memorable consumer experiences. It will also help Coloredge deliver more customized capabilities to indie and startup brands who seek a trusted partner as they move beyond direct-to-consumer and e-commerce and into retail environments.
3. Funding for strategic acquisitions. The new capital will provide new funds with which Coloredge can potentially make strategic acquisitions, with an initial focus on the West Coast. This will boost Coloredge’s national presence and provide additional leverage for effectively serving its top 1,000 customers in key segments.
The preceding press release was provided by a company unaffiliated with Wide-Format Impressions. The views expressed within do not directly reflect the thoughts or opinions of Wide-Format Impressions.