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Production of smart tags in a facility belonging to Beontag, the world’s second largest provider of … [+]
Smart tagging, RFID (radio frequency identification) and NFC (near field communication), has revolutionized inventory management for mass-market adopters like Amazon, Zara, Uniqlo and Decathlon with Walmart also expanding the technology within its stores in 2022.
But according to Ricardo Lobo, CEO of global smart tag and tag solutions provider Beontag, that was just the beginning.
In addition to the logistics benefits and cost-saving implications of knowing exactly where your inventory is in real time, he mentions the fast, frictionless self-checkout implemented by stores like Uniqlo and Decathlon.
The technology also allows companies with physical networks to compete with pure e-commerce players as stores become additional distribution hubs, as Zara has demonstrated during the pandemic, he says.
Cell phones equipped with NFC readers have opened up possibilities for B2C applications, especially in the luxury field, he adds. “Before, you could tag with NFC but consumers didn’t have a reader. Now anyone can access the information through their cell phones.”
This has particularly interesting implications for the luxury industry. “In the world of luxury, brands don’t care about boxes,” he says. “For them it’s about committing and creating unique experiences.”
Smart tags created by Beontag’s IoT technology team, Temera, have already been deployed by luxury brands such as Alexander McQueen, Dolce & Gabbana and Bulgari, allowing customers to access after-sales services and experiences through their phones. intelligent, both in web2 and in web3.
“Brands are experimenting,” he says, citing Alexander McQueen’s MCQ line, where the tags allow consumers access to on-chain digital certificates detailing the product’s life cycle and the ability to transfer ownership for resale purposes and Dolce & Gabbana, where they allow buyers to access a virtual web3 boutique that offers exclusive services reserved for customers.
Unlike information accessed via a QR code, which can simply be photographed, an embedded smart tag is specific to a particular product that requires proximity and ownership to access.
From its origins as a producer of self-adhesive labels, Brazilian company Beontag is now the second largest provider of RFID and NFC digital solutions to some of the world’s largest fashion and consumer brands following the acquisition of a number of software and facilities companies. production throughout Europe and the United States.
As announced today, Beontag (through wholly owned subsidiary Tags Lux Sarl.) has secured a €120 million debt increase led by Deutsche Bank, demonstrating confidence in market growth. “We have joined 11 companies in the last two and a half years, each with its own debt,” says Lobo. “The increase allows Beontag to consolidate all local debt into a single facility. We will use the excess to build our software teams.”
In the past 12 months, its workforce has grown 35%, with a focus on new engineers and developers at seven R&D centers in China, Finland, France, and the US. Working toward its 2030 ESG goal, products more sustainable include paper-based ECO RFID tags, Line RPET tags produced with 30% recycled PET resin, and Couchê PCR made of 50% recycled fibers.
With operations now spanning over 15 international facilities and a presence in over 40 countries. Beontag is expected to achieve $550 million in revenue by 2022 compared to $400 million in 2021.
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