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Nordic ID signes a cooperation agreement with Russian Future Store Project

Nordic ID signes a cooperation agreement with Russian Future Store Project

In June 2011, the three largest Russian companies – Corporation “RUSNANO”, OJSC “SITRONICS” and the leader of the Russian retail X5 Group - , signed the “Future Store” Project Investment Agreement in St. Petersburg. The key objective of the project is the creation of technological solutions for RFID technology implementation and operation for retail, and the investment for the project will reach 350 Million rubles. Olga Karaeva, Director General of the “Future Store” Llc spoke to Nordic IDea earlier in the year 2012 in detail about the project, along with her assessment of the RFID prospects in Russia.

“The Russian “Future Store” is a store with no queues, with a minimum number of personnel and cashiers. It provides a complete goods delivery control from manufacturer to consumer, the ability to track the movement of goods from the warehouse to the sales area, the shelf life of each item and instant information on the number and composition of the products on the shelf, fast inventory and expiry date control. It is a fully automated shopping process, with RFID playing a key role”, explains Karaeva.

Russia is considered to be one of the most promising business areas for the implementation of RFID based solutions, and a lot has been learned by studying the world experience of using RFID in retail in great deals. As for the food retail on item level, we are pioneers.

The start of commercial use is scheduled for 2013, the first pilot project is planned to open already at the end of year 2012 and therefore the Letter of intent and the cooperation agreement is signed at Nordic ID Headquarters in Salo November 20th, 2012. This agreement insures getting ahead with the project.

Cooperation

The “Future Store” is a breakthrough project since in it RFID will be used in a complex, at the store level and it will underpin the whole system.

Nordic ID has a good reputation in the European Apparel RFID market and trustworthiness as a Finnish supplier. Nordic ID has an impressive record of cases implemented, expertise in RFID and good relations to the Future Store Project and therefore A Memorandum of Understanding is signed by Future Store General Director, Olga Karaeva and Nordic ID CEO, Jorma Lalla in Salo, Finland, during the Go Skolkovo –days 20.11.2012.

This Memorandum of Understanding is signed to enhance the development of the following areas of cooperation which include (is not limited to):

  • Consulting services in utilizing RFID technology for automatization of retail trade and logistics operations.
  • Deliveries of RFID equipment to be used in retail trade and logistics automatization projects utilizing RFID
  • Deliveries of industry segment solutions of Nordic ID in RFID technology projects that «Future Store» realizes.
  • Joint research and actions to develop new industry segment solutions that utilize RFID.
  • Marketing activities in order to develop the market of RFID technology applications in retail trade and logistics.

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