Nextech AR Solutions Corp. (CSE:NTAR, OTCQX:NEXCF) has announced an expansion contract with thousands of 3D model products for Majid Al Futtaim, a branding partner for fashion and retail brands with over 100 stores across the Middle East and North Africa (MENA) region, including brands such as Crate & Barrel, Hollister, AllSaints, and lululemon Athletica.
The company also said that it now supplies 3D models for Procter & Gamble (NYSE:PG), an S&P 500 company, as well as Bunning, which has 381 locations and is the largest retailer of home improvement supplies in Australia and New Zealand.
The contracts are further evidence of the global demand for 3D models due to the high returns on investments, Nextech said, and it anticipates the 3D model mega-trend gaining even more traction in 2023.
The company noted that it is currently in discussions with other major retailers and is anticipating a record number of new deals for 3D models in 2023.
READ: Nextech AR reports jump in 3D modeling revenue as it heads into 2023
Nextech has recently signed both new and renewal contracts for 3D model in a variety of industries:
- Specialty Products Vornado Air LLC, a premium supplier of fans, heaters, humidifiers, air purifiers, steamers and more have signed on for 3D models of their most popular products. Home Leisure Direct, a game room products provider of pool tables, arcade machines, pinball, table tennis, etc has signed on for a number of unique and complex 3D models to promote its games.
- Speciality Outdoor Furniture / Equipment Babmar, a trusted brand name in weather-resistant, handwoven outdoor furniture, along with Everdure by Heston Blumenthal, Ezooza, North by North, and others. Nextech continues to see growth in this category, and will continue to expand this segment into 2023.
- Sports Equipment MGI Golf, a supplier of golf caddies and other related golf products, originally signed on for a 3D model of their golf cart and has requested another contract for more models. This latest signing is for 3D model SKUs of their other golf caddy products.
- The company also recently signed a 3D modelling deal with Skate One, Bunnings (bicycle line), as well as a renewal 3D modelling deal with City Grounds, a bicycle retailer for additional SKUs. This follows multiple sports-related ARitize 3D deals, including Marketer Deutschland, Head, Himibike, Salamander Paddle Gear, Never Summer, The Perfect Mound, Source for Sports, Joyride Bikes and others.
- Furniture / Home Goods Material Comforts Inc - (MC) Poly & Bark, a premium American furniture and home decor online retailer has renewed for another term, and it is anticipated that additional SKUs will be requested. William Wood Mirrors, an eCommerce retailer of specialty mirrors, originally signed on for complex 3D models in mid-2022 and has been increasing its model orders steadily. This latest deal represents the seventh signed contract for additional 3D model SKUs. The Timber Line, an exclusive collection of locally made, handcrafted timber items for the household has signed on for a number of 3D models of their most popular SKUs, enabling customers to see what the product will look like in their homes before purchasing, leading to more satisfied customers and less chance of product return.
Nextech AR is a diversified augmented reality, AI technology company that leverages proprietary artificial intelligence (AI) to create 3D experiences for the metaverse. Its main businesses are creating 3D WebAR photorealistic models for the Prime eCommerce Marketplace as well as many other online retailers.
Contact the author at jon.hopkins@proactiveinvestors.com