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Singapore-based iFashion Group partners with blockchain AR platform Scanetchain to enhance retail experience

Thu, 11 Oct 2018, 06:46 am UTC

Scanetchain, the first commercialized augmented reality (AR) blockchain platform, announced that it has entered into a partnership with iFashion Group, a Singaporean venture platform company focused on investing and acquiring fashion and lifestyle e-commerce ventures based in Southeast Asia.

Under the agreement, Scanetchain and iFashion Group will mutually promote their platform and solutions. The objective is to enable and create unique AR-based shopping and public experiences across all iFashion Group’s fashion stores and brands such as Dressabelle, Megafash, Meykrs, Red Republic, Invade, Space Invasion, FleaWare, and at public events such as Artbox Singapore.

“Retail isn’t dying, boring retail is. Retailers and brands need to up their experiential offerings and look for innovative ways to improve the in-store experience. We believe that Scanetchain is potentially a game-changing retail experience and we are excited to partner with them to improve the quality of experience for consumers through such innovations,” Jeremy Khoo, CEO of iFashion Group, said.

According to the official release, the companies will work closely to integrate Scanetchain’s AR Platform based “Scan to search and shop” functions into iFashion Group’s MegaXStore E-Commerce platform. This will enable consumers to use their mobile phones to scan and shop for the unique products and services available on the MegaXStore.

Scanetchain will expand the database of unique and scannable AR Marker content through iFashion groups expansive portfolio. The companies will jointly engage in initiatives aimed at further expanding token-based economies and creating greater value for consumers in Asia.

“We are very excited to announce a partnership with iFashion Group, as true innovators and retailleaders in South East Asia, they bring a new set of values, capabilities and options to consumers through their progressive initiatives. Through this partnership we hope to facilitate a new era in shopping and public experiences,” David Ham, CEO of Scanetchain. “Technology is only relevant if it can be used in our daily lives. iFashion Group is at the forefront of delivering true innovative value through technology.”

The two companies will work towards a definitive agreement before the end of the year.

The announcement follows Scanetchain’s recent partnership with Sirin Labs, a Swiss firm working to build blockchain smartphone ‘FINNEY’. The Scanetchain AR service app will be pre-loaded onto the FINNEY, enabling “Scan to Search”, and allowing users to upload AR markers and matching data content directly from the smartphone.

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