Foxtrot and Microsoft Ukraine agreed to consider potential partnership in the field of digital transformation of retail
The Foxtrot Group of Companies (develops retail of electronics and household appliances under the brand “Foxtrot”) together with Microsoft Ukraine have begun negotiations on potential cooperation in the field of information systems modernization. The main areas of potential partnership are the assistance in digital transformation, implementation of retail innovations and modern technologies based on Microsoft platforms. For this purpose, the parties signed a Memorandum of Understanding (MOU).
Retailers today face the challenge of keeping up with the digital economy tendencies, where customers can shop whenever and wherever they want. Compliance with these changes has become not only a necessity, but also an opportunity to redefine their business model in order to ensure sustainable profits through the integration of new technologies.
“Retail success depends on how companies use technology and data in their business in order to not only know their customers better, but also to service them better by empowering their employees, creating an intelligent supply chain and reimagining the retail experience”, says Jan Peter De Jong, Country manager of Microsoft Ukraine.
Microsoft smart tools are being successfully implemented in the work of many retailers around the world. AI-powered apps enable to create unique, personalized experiences. The understanding of the customer needs and expectations underpin a successful retail strategy. Such approach helps companies develop close relationships with every client.
The co-founders of Foxtrot Group of Companies (FGC) Valeriy Makovetskuy and Gennadiy Vyhodtsev consider digitalization to be very importance for retail, since the success of retailers depends on the use of innovative technologies: digital solutions ensure understanding of customer interests and create an intelligent supply chain.
Earlier, FGC began cooperation with an accelerator in the field of logistics, which significantly helped to improve warehouse processes and launch a project on innovative ways of delivering goods to customers.
“In addition, Microsoft helped the FGC pass the lockdown effectively by providing 6,000 Microsoft Office 365 licenses for free use. This made it possible to organize remote work effectively and use modern tools of communication and office work," says Gennadiy Vyihodtsev, Chairman of the Board of Founders of the Foxtrot Group of Companies. "Further cooperation with Microsoft will potentially bring new experience to the retail market of electronics and household appliances in Ukraine as a whole and will help bring the experience of interaction with customers and the quality of their service to a new level."
“Today digital solutions are the key to the success of the retail omnichannel format development,” comments Valeriy Makovetskiy, Chairman of the Supervisory Board of Foxtrot. “The use of cloud technologies will allow FGC to be the first in Ukraine to pilot advanced Microsoft innovations implemented around the world. With products from our digital partner, we can better analyze big data collected by the Internet of Things in retail stores and improve the experience of interacting with customers and partners."
It is assumed that in the future the parties will determine the most effective areas and formats of cooperation.
The Parties hereby agree that in order to realize the Potential Cooperation, as provided by the Parties in this MOU, the Parties shall conclude a separate agreement(-s) at a subsequent stage.
The current MOU is not a binding agreement, but is intended by the Parties as an expression of the current intentions of the Parties. Neither party intends to create any legal rights or obligations for any party, including requiring further conclusion of any binding agreement. Only a written license agreement signed by Microsoft Ireland Operations Limited can create a legally binding license agreement between Microsoft and its customer.
About the Foxtrot Group of Companies: The Foxtrot Group of Companies develops the following brands: "Foxtrot. Home appliances", "Technoshara" (retail of household and electronic appliances), "DEPO't Center" and "Fantasy Town"(real estate management in the FOXTROT Company Group).
The Foxtrot brand is omnichannel (offline and online trade): as of 2020, it has 162 stores with a total sales area of 153 thousand square meters in 90 regional centers of Ukraine and the online store FOXTROT.UA, the traffic of which reaches 9 million users per month. The retailer is recognized as one of the most “digitized” Ukrainian brands in 2020 (5th position in the TOP-15 rating of the “Correspondent” magazine). At the end of 2020 the retailer was the first in the field of retail electronics to begin the implementation of a software cash register and an electronic check in all retail stores and in the foxtrot.ua online store. The brand also activated the option to pay for goods and services using its chatbot in Viber via a virtual wallet (Apple Pay/Google Pay).
Microsoft (Nasdaq “MSFT” @microsoft) enables digital transformation for the era of an intelligent cloud and an intelligent edge. Its mission is to empower every person and every organization on the planet to achieve more.
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