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Gap, one of the US largest apparel brands, bought CB4 from the Sonae group, an artificial intelligence (AI) software company that developed a program that improves the consumer in-store experience.
CB4’s software uses machine learning and advanced AI algorithms to identify the products that are most demanded in stores. When a product fails to sell at expected levels, CB4 sends an alert to the store manager, and suggests ways to fix it.
“This solution increases new net sales between 0.5% and 2%, improves customer experience, and makes it easier to find products”, reads the statement.
Sonae, which through Sonae IM had entered the capital of CB4 in 2019, following an international round of financing, thus definitively leaves the AI company. CB4 now belongs to GAP, “whose strategy is to invest in technology that promotes growth and innovation, and that has an impact on the company’s entire brand portfolio”, says the North American group in a statement.