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Milestone runs headlong into $3.5 billion Australian market
2 minute read
Victory Mines’ (ASX:VIC) RTO target Milestone Sports is taking aim at the $3.5 billion Australian sporting goods market – launching its Milestone Pod and Milestone Connect platform in the market.
The company, which to date has focused on the US market, has set its sights on the Australian market – which it says is worth $3.5 billion — and has already established an online presence at www.milestonepod.com.au.
VIC, however, told its shareholders that it is in “advanced discussions” with Australian retailers as it unveiled the lofty aim of being part of every new running shoe transaction in the country.
The Milestone Pod is a shoe-worn sensor which is designed as a clip-and-go solution, which measures metrics such as foot strike, cadence, rate of impact, and leg swing.
This differs from other similar products on the market as it actively measures these metrics to give the user feedback on running style – instead of simply using GPS data to tell a user how far they’ve run.
The upshot is that Milestone is able to use its analytics platform to tell a user how to improve their run and diagnose problems rather than simply telling a user how far they’ve run.
Milestone has also opened the system up to retailers, meaning they will have insight into when a user may potentially need a new pair of running shoes – giving the retailer another shot at creating a loyal customer rather than losing them entirely after the first transaction.
Its CEO Yaron Garmazi told shareholders that Australia was shaping up as a runner’s paradise for the company.
“Australia has a reputation as an early adopter of technology,” he said. “This train coupled with a highly active population makes Australia the next ideally suited market for Milestone to launch it products, following our success to date in the US.”
He also said he hoped the market entry was the start of something big for the company in the Australian market.
“It is our goal to become part of every sales transaction involving a new pair of running shoes,” Garmazi said.
“We intend to help runners and athletes perform to the best of their abilities and help retailers and brands build more meaningful and valuable relationships with their customers, resulting in increased brand loyalty and ultimately increased sales.”
The Milestone Pod will be available for $49.95.