itim Group plc (LON:ITIM), a SaaS based technology company that enables store-based retailers to optimise their businesses to improve financial performance, has announced that it has signed a five-year multi-million-pound contract with Assaí Atacadista, the largest Brazilian wholesaler, with more than 300 stores.
Founded in 1974, Assaí distinguishes itself by offering a diverse range of products at competitive prices, serving both businesses and end consumers. In 2020, the company became independent, and since then, its shares have been traded on the New York Stock Exchange (NYSE) and São Paulo Stock Exchange (B3). In 2023, Assaí reported turnover of approximately $13 billion and currently has a market capitalisation of $2.5 billion.
This significant contract follows the recent announcement that Assaí will be expanding its operations across multiple regions, further strengthening its market presence. Under this agreement, Assaí will leverage itim’s UNIFY Price & Promotions Optimisation solution powered by Profimetrics AI to refine its pricing strategies and boost competitiveness, reinforcing its commitment to quality and affordability.
Itim’s UNIFY Price and Promotions Optimisation platform powered by Profimetrics AI provides its retail customers with advanced analytical capabilities to optimise prices and promotions, drive sales, and improve profitability by leveraging data-driven insights.
It now is being used by 20 retailers globally and by 6 of the top 10 Brazilian retailers, underlying its capability of adding retail value.
Ali Athar, itim Group CEO, commented: “We are delighted to have been selected by Assaí to help power their pricing optimisation initiatives. This is a significant endorsement of itim’s product set and we look forward to working with Assaí to make this project a great success.”
The execution of this contract is in line with the Company’s financial expectations for the current financial year.
