Optimists stay up until midnight to see the new year in, whilst pessimists stay up to make sure the old year leaves. I am a firm believer that optimism is a force multiplier, so be assured that as Big Ben struck 12 on the 31st of December, I was looking forward to 2022 with enthusiasm, knowing that our work over the past 12-months at Retail247 has put us in a great position to be able to continue enjoying what we do.
Looking back to this time last year, as we entered 2021, we were all hoping for better times ahead: 2020 had been a challenging year with the obvious risks and potential threats posed by the pandemic. But in uncertain times, opportunities exist to build back stronger and at Retail247 we learnt a whole new way of doing business. We stayed home, keeping safe, whilst at the same time working hard to ensure progress was made. We had a number of key projects to deliver for our clients, and some very exciting new software to develop. There was never a dull moment. On reflection, 2021 has been similar in many ways to 2020, but I am confident that we have used our time well, and we are ready to help retailers create the operational advantages they need to get ahead, and stay ahead, of their competitors.
Our financial year closed at the end of November 2021 and we are really proud of the progress we’ve made over the past 12 months. Revenues are up 56.6% and this includes an increase of 48.6% in annual subscriptions for our PIM solution Origin. During the year we have onboarded 3 new Origin clients: John Lewis, Crew Clothing and L.K.Bennett, and we have already signed our first client for 2022. When you design software, you have to hope that others will think as much of it as you do, so attracting 4 well known retailers in the space of 12 months is enormously satisfying, and achieving this success is a testimony to the skill, hard work and absolute passion embedded within the Retail247 team.
In 2022 we are launching our next retail pillar solution, Quantum. Quantum is our stock transaction management concept. Designed from the ground up as a massively scalable and configurable cloud engine, Quantum can enable legacy technology environments and deliver the stock visibility required for omni-channel retail. Quantum is being deployed globally into Reiss from the middle of January.
Nobody can predict the future, especially right now, but we are confident that our range of services, and our growing portfolio of subscription software solutions will deliver real business benefits for retailers. We would love to tell you more, so please get in touch. We won’t flood you with lots of meaningless sales talk, we will cut straight to the chase and explain the difference Retail247 can make, and why you should work with us.
On behalf of everyone at Retail247 I would like to take this opportunity to thank our clients and partners for their support, good humour, and faith in us during 2021. Our very best wishes to you all for a happy, healthy, and successful 2022.
