LAS VEGAS and BANGKOK, March 5, 2018 /PRNewswire/ -- Remark Holdings, Inc. (MARK), a global technology company focused on artificial intelligence, and CP ALL Public Company Limited (CPALL.BK) today announced that they are partnering to deploy Remark's KanKan data intelligence and AI technologies in approximately 11,000 7-Eleven stores that CP ALL operates throughout Thailand. Remark and CP ALL will hold a press conference (the details of which appear below) on March 6, 2018, in Bangkok to launch the partnership.
The Remark/CP ALL partnership will utilize KanKan's AI-based facial recognition and behavior analysis technologies to provide enhanced customer support, business analysis, employee management and security in CP ALL's 7-Eleven stores in Thailand, which generate more than $14 billion in revenue. KanKan's technologies can monitor product levels on store shelves, suggest products and services to customers, provide real-time operations performance and competitor analysis, check in and check out employees, identify unauthorized personnel, and assess crowd size and crowd flow for safety, among myriad other services. Approximately 10 million people pass through 7-Eleven stores in Thailand each day.
CP ALL is a unit of Thailand's Charoen Pokphand Group (CP Group), one of the world's largest conglomerates (described below). Last December, CP Group invested in Remark to deploy KanKan data and AI technologies across CP Group's extensive businesses and investments.
"The KanKan implementation at 7-Eleven marks our first major collaboration with Remark," said CP Group Chairman Soopakij Chearavanont. "The 7-Eleven team evaluated many AI technologies and selected KanKan because it has the most robust platform for meeting business objectives, namely, driving revenues, reducing costs and rapidly improving profit margins. After the successful launch at 7-Eleven, I plan to introduce KanKan AI technologies to Ping-An Insurance Group, where they can add tremendous value to Ping-An's massive business scale." Ping-An Insurance Group is one of the world's largest and most valuable insurers, and it is also one of the world's biggest investment and asset management companies, with total assets of approximately $848.5 billion as of 2016.
Remark Holdings' CEO and Chairman, Kai-Shing Tao said, "The 7-Eleven partnership is an incredible opportunity to implement our KanKan technologies on a massive scale. We are extremely honored that CP Group selected Remark as its AI technology partner, and we look forward to collaborating with CP Group in relation to Ping-An and their other businesses in the future. We look forward to discussing the financial impact of this deal during our next earnings call at the end of March."
Press Conference details:
When: March 6, 2018
Where: CP TOWER Silom, Bangkok
Time: 2 p.m.
About Remark Holdings, Inc.
Remark Holdings, Inc. (NASDAQ: MARK) primarily focuses on the development and deployment of artificial-intelligence-based solutions for businesses and software developers in many industries. Additionally, the company owns and operates digital media properties that deliver relevant, dynamic content. The company is headquartered in Las Vegas, Nevada, with additional operations in Los Angeles, California and in Beijing, Shanghai, Chengdu and Hangzhou, China. For more information, please visit the company's website at www.remarkholdings.com.
About Charoen Pokphand Group
Charoen Pokphand Group is one of the world's largest conglomerates; its core businesses span agribusiness and food, retail and distribution, and the telecommunication sectors. The company currently operates Southeast Asia's largest retail business by revenue, and it is one of the largest telecom firms in Southeast Asia with more than 25 million mobile customers. In addition to its core businesses, CP Group has significant operating interests in media, e-commerce and digital, property development, plastics, automotive, finance, insurance, and pharmaceuticals. CP Group was also the first foreign company selected to invest in China and is the only one approved to own and operate a TV channel under the Chinese media authority. CP Group operates in 30 countries and employs more than 700,000 people. For more information, please visit the company's website at www.cpgroupglobal.com.
Douglas Osrow, CFO
Remark Holdings, Inc.
702-701-9514, ext. 3025
Investor Relations Contact:
Matt Glover or Tom Colton
Liolios Group, Inc.
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