TagMaster Regains Momentum and Revenue Growth in China
13 October 2009
Stockholm, Sweden - TagMaster, the leading producer of advanced RFID solutions, has seen an increase in volume of new business in China. The new go-to-market strategy in China, including the new distribution contract with Shanghai Richor Commercial (Richor) announced on 20 March 2009, has made an immediate positive impact on revenue.
Despite the financial crisis this year, TagMaster has experienced revenue growth in both access and transportation compared to year 2008. Cytel, which is TagMaster’s key channel partner in the Parking segment, has established itself as the premium parking solutions supplier, while Richor has, after signing of new distributor agreement, succeeded in further strengthening its system integrator network in China. The network includes partners who are focused on transportation-related business, as well as partners supporting the Access business. With a number of Chinese metro projects now purchasing TagMaster equipment locally in China via Richor, the level of new business has grown significantly over the year.
"Our partners provide strong sales capabilities in both access and transportation. In addition, Richor enables us to be a trustworthy local partner in the transportation industry. In China, global manufacturers are often required to source products locally. TagMaster has the necessary local distribution capabilities and 2009 is expected to become a good, if not the best year, for TagMaster in China. By implementing the new go-to-market strategy, TagMaster has established a strong platform for future growth," says Christopher Grahn, president and CEO of TagMaster.
