Luzern Solutions announces €2.5 million investment by Delta Partners
Luzern Solutions announces €2.5 million investment by Delta Partners
Dublin, Ireland. August 21, 2008 – Luzern Solutions Limited, the leading eCommerce platform for managing the return and sale of consumer goods returned at point of sale has raised €2.5 million to accelerate the expansion of its international operations.
Roughly 6% of consumer electronics products sold to consumers are returned to retailers. Managing this reverse supply chain and realising the maximum amount of value for this inventory is a huge challenge for manufacturers and distributors. Luzern’s platform takes control of this inventory on behalf of manufacturers. In addition to consumer electronics, Luzern has the ability to handle other products such as sporting equipment and household goods.
Luzern's proprietary web based application "Channel Optimiser" empowers product manufacturers to manage the flow of these products. It also allows Luzern to act in partnership with product manufacturers to achieve the highest prices possible for this inventory by selling it through eCommerce Marketplaces such as Amazon, eBay, PriceMinister and www.luzerntech.com in Europe and the United States. Today, Luzern manages and sells returned product on behalf of Archos, Brother, Creative, Palm, Philips, Sanyo and many more. Luzern aims to provide a complete end-to-end solution.
“Luzern Solutions is exactly the sort of Irish company we like to support”, said Dermot Berkery of Delta Partners. “It is developing an unrivalled platform for managing and selling inventory, particularly B stock returned to retailers, through eCommerce channels particularly in Europe.”
CEO of Luzern Solutions Ken Doyle said: “With operations in Ireland, the UK, Spain, Germany and Netherlands we were keen to bring on capital to support our rapid expansion. We are delighted that Delta Partners decided to support our expansion. We recently established operations in the U.S. with one customer signed up so far and a number of others in the pipeline”
About Luzern Solutions Limited
Luzern Solutions Limited, founded in 2002, provides a range of innovative eSolutions and services on behalf of consumer electronic manufacturers to maximise the financial return attainable from sales of product returns and surplus inventories. All activities are facilitated by Luzern’s proprietary application “Channel Optimiser”. Channel Optimiser provides easy access to multiple marketplaces with millions of consumers throughout Europe. Head quartered in Dublin, Ireland, Luzern has operations in UK, Germany, Spain and Netherlands. . For further information log onto www.luzernsolutions.com
Media Enquiries:
Jackie Brannigan
Head of Marketing
Luzern Solutions Limited
Tel. +353 1811 91 27 / +353 873294250
Email: jackie.brannigan@luzernsolutions.com
About Delta Partners:
Delta Partners is the leading Irish early stage technology venture capital firm. It was established in 1994 and since then has made over 50 investments in early stage companies. It mainly invests in technology fields such as software, electronics, semi-conductor, Internet, medical devices and business services based on technology. In 2007 it undertook a first close of its new fund at €100m supported by Enterprise Ireland, Wellcome Trust, eircom, An Post, Irish Life and a range of other institutions.
