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Chow Tai Fook, Swarovski Back Sourcing Program

Dec 4, 2018 6:55 AM   By Rapaport News
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 Chow Tai Fook and Swarovski have led a consortium of investors in a digital jewelry program that claims to reduce sourcing time by up to 80%.

Atelier Technology — which launched in January — aims to connect the supply chain and eliminate unnecessary administration, thereby bringing more products to market at a faster rate, it said Tuesday. Five jewelers have made an undisclosed investment in the company, with three of them remaining anonymous.

The technology centralizes a company’s suppliers, enabling them to manage relationships with a larger number of entities throughout the supply chain without needing to use multiple computer applications such as e-mail and Excel, it added.

“The entire industry will agree that today we need to bring many more styles to market than yesterday, just to reach the same turnover,” said Atelier founder and CEO Dominic Hill. “Everybody is doing more work and earning less profit. We built Atelier as a solution to this problem.”

Image: Atelier Technology founder Dominic Hill (center) with representatives from Chow Tai Fook and Swarovski. (Atelier Technology)
Tags: Atelier Technology, Chow Tai Fook, Dominic Hill, Rapaport News, Swarovski
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