Monto Minerals Ltd (ASX:MOO) will have a leading client in the fashion industry when it re-emerges as technology company ShareRoot Inc later this year.
The Queensland-focused tin explorer, which committed to acquire 100% of ShareRoot in August will benefit from the Silicon Valley company’s user generated content (UGC) marketing platform for brand promotion.
The deal with fashion company Iconix Brand Group Inc brings on board ShareRoot’s largest client to date and will incorporate 15 clothing brands within Iconix’s umbrella
Iconix Brand Group is a brand management company and owner of a diversified portfolio of strong global consumer brands across fashion, sports, entertainment and home.
Iconix specialises in marketing, merchandising and licensing its brand portfolio and has over 1,100 licenses with leading retailers and manufacturers worldwide that sell across various distribution channels from the mass tier to the luxury market, as well as through various media outlets.
Monto’s takeover of ShareRoot is expected to take advantage of a dramatic growth of social media in an environment where UGC is essential in any marketing strategy.
ShareRoot has also signed eBay to a one-year, revenue-generating contract involving both its current feature set as well as various platform functionalities currently in development.
Following the company’s recent integration with Facebook, more than a billion additional social media users can now upload content directly into the ShareRoot’s galleries.
ShareRoot has closed a A$500,000 raising for working capital in the lead up to the acquisition and capital raising.
