Avery Dennison Collaborates with Explorium to Build Smart New Retail and Promote the Transformation of Business Models | Avery Dennison | RFID

Avery Dennison Collaborates with Explorium to Build Smart New Retail and Promote the Transformation of Business Models

Press Release

Shanghai China, 10 September 2019 -- Today, Avery Dennison Corporation (“Avery Dennison”) and Fung Group Explorium (“Explorium”) hosted a Cooperation Ceremony at Li & Fung Plaza in Shanghai, where the two companies signed an agreement on the development of an innovative ecosystem of the new retail and smart supply chains. The ceremony was graced with the presence of Danny Allouche, Vice President, Strategy and Corporate Development at Avery Dennison, Francisco Melo, Vice President and General Manager, Global RFID at Avery Dennison, Dominic Gates, President, LF Logistics Group and Stanley Lam, SVP at Fung Group Explorium and a number of industry professionals.

The Retail Lab co-created by Avery Dennison and Explorium relies on RFID technology to build a real retail store that can demonstrate application scenarios of cross-sector consumer goods, including but not limited to apparel & accessories, shoes & bags, home furnishings and food & beverages. The Lab aims to provide a well-rounded interactive digital product experience of how RFID technology takes the lead in the internet of things (“IoT”). By using RFID and big data analysis tools, the holistic solution can optimize the commodity circulation and sales procedures. This initiative will help lead the way in retail innovation, by gathering online and offline real-time data to tap into in a world where consumers demand truly personalized interactions. 

As the largest UHF RFID partner in the world, Avery Dennison is committed to promoting the application of intelligent labels in all industries. The accuracy of data and inventory has played an important role in Omni Channel Retailing and improvement of customer experiences. Due to its unique identification methods and technical characteristics of RFID, it can bring significant advantages to retailers, suppliers and customers. RFID technology can help supply chains track goods more easily and fully automate the management of commodities. It also provides strong support to the establishment of a customer-oriented smart supply chain.

"We believe in a world where every item will have a digital identity and digital life. A world where provenance, authenticity, transparency and sustainability are seen as table stakes for a better world," said Francisco Melo, Vice President and General Manager of Global RFID at Avery Dennison. "We look forward to co-creating the Future of Smart Supply Chains with Fung Group, building on our joint expertise to drive digital innovation for the retail industry in China and beyond. "

As a trailblazing ecosystem platform, Explorium’s core lies with more than a century of Fung Group’s leadership in supply chain solutions, logistics and retail services, with the goal of building supply chains of the future by seamlessly integrating new technology applications with business model innovation, to transform and advance the supply chain and retail industries.

"In the era of a new economy, transformation and innovation of business models are inevitable. Only by maintaining the innovative momentum can traditional industries remain competitive in a sustainable way,“ said Stanley Lam, SVP of Explorium. “Working alongside ecosystem partners such as startups, venture capitalists, commercial enterprises, academic institutions and local governments, the Innovation Lab is a scalable platform dedicated to exploring the application of intelligent labels across different product sectors. The Lab looks for startups in line with the long-term strategic goals of Avery Dennison and Explorium, to collectively create the future of new retail and supply chains.”

"What you see today is the first phase of the Innovation Lab – the opening of the Retail Lab. In the near future, we plan to launch a Logistics Lab and a Manufacturing Lab, which will simulate the process of commodities from being manufactured, packaged and transported to being sold at a retail store. The other two labs will be essential to continuously vitalize the innovation process," commented Paul Wong, Innovation VP at Explorium.

The collaboration between these two notable industry leaders aims to develop a unique innovation ecosystem, a pioneering initiative in achieving a closed-loop verification platform, creating disruptive innovation models. To ride on the brink of a significant shift fueled by the innovation wave, this activity can provide a significant milestone moment for the corporate innovation ecosystem. 


 --ENDS--

About Avery Dennison

Avery Dennison Corporation (NYSE: AVY) is a global materials science and manufacturing company specializing in the design and manufacture of a wide variety of labeling and functional materials. The company’s products, which are used in nearly every major industry, including pressure-sensitive materials for labels and graphic applications; tapes and other bonding solutions for industrial, medical and retail applications; tags, labels and embellishments for apparel; and radio-frequency identification (RFID) solutions serving retail apparel and other markets. Headquartered in Glendale, California, the company employs approximately 30,000 employees in more than 50 countries. Reported sales in 2018 were $7.2 billion. Learn more at www.averydennison.com


About Avery Dennison Intelligent Labels

Avery Dennison’s intelligent label solutions bridge the physical and the digital, enabling businesses to add digital connectivity to any item. In industries as diverse as apparel, beauty, food and aviation, Avery Dennison RFID inlays and other digital trigger technologies give items a unique digital identity, enabling them to connect to the internet and deliver greater capabilities for companies and consumers alike. For companies, our intelligent labels make inventories more visible and more productive, while providing greater insight into consumer behavior and preferences. For consumers, our intelligent labels enhance experiences and make shopping more satisfying, informative and fun.  For the planet, they increase sustainability by improving transparency and reducing waste across the supply chain and making the disposal of products more responsible. Learn more at http://rfid.averydennison.cn

About Explorium 

Explorium is a value-generating ecosystem where businesses, start-ups, incubators, accelerators, and venture capitalists collaborate to explore disruptive technologies that are reshaping global supply chain and new retail in the digital era. Created by Fung Group, Explorium, is a trailblazing experimental platform for seamlessly integrating new technology applications with business model innovation, to transform and advance the supply chain and retail industries.  Our Experience Centre, Innovation Hub and Collaboration Space showcase the technology and concept behind New Retail, allowing guests to explore and experience the Smart Supply Chain of the future.

About Fung Group 

Fung Holdings (1937) Limited, a privately-held business entity headquartered in Hong Kong, is the major shareholder of the Fung Group of companies, whose core businesses operate across the entire global supply chain for consumer goods including trading, logistics, distribution and retail. The Fung Group comprises 42,000 people working in more than 40 economies worldwide. We have a rich history and heritage in export trading and global supply chain management that dates back to 1906 and traces the story of how Hong Kong and the Pearl River Delta emerged as one of the world’s foremost manufacturing and trading regions. We are focused on both creating the Supply Chain of the Future to help brands and retailers navigate the digital economy as well as creating new opportunities, product categories and market expansion for brands on a global scale.
Listed entities of the Group include Li & Fung Limited (SEHK: 00494), Global Brands Group Holding Limited (SEHK: 00787) and Convenience Retail Asia Limited (SEHK: 00831). Privately-held entities include LH Pegasus, Branded Lifestyle Holdings Limited, Fung Kids (Holdings) Limited, Toys "R" Us (Asia) and Suhyang Networks. For more information, please visit www.funggroup.com

Media Contacts

Americas and Global Interface

Hannah Bernard
Global Marketing & PR Director,
Apparel & RFID
Office + 44 (0) 203 1767 093
Cell + 44 (0) 773 330 2973
hannah.bernard@
eu.averydennison.com

 

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