FOG announces Successful IPO of its first AI-based public Index for the Fashion Industry
01 Feb 2016
Vienna, Austria, February 1st, 2016
The Fashion One Group announced today the successful IPO of its IFDAQ10 FASHION EUROPE Index (IFDAQ10 MODE EUROPA – SWB:LS9HV0 | ISIN DE000LS9HV01 |WF: WF0IFDAQEU)
The pricing of its initial public offering was set at €91,94 per share with an emission volume of €200,000. The shares began trading at the Stuttgart Stock Exchange under the ISIN DE000LS9HV01 and the preliminary Index symbol WF0IFDAQEU.
Daryl de Jori, the group’s Chief Business and Development Officer and who also serves as Head of New Technologies at EDAQS, commented on the milestone, ‘We appreciate the confidence that the involved parties have shown in making the first fashion Index tradeable. With the IFDAQ10 Fashion Europe Index, we have finally implemented a long-awaited financial product into our product range, which reflects the overall economical state of the fashion industry in Europe. The Index is also unique due to its automated calibration that is based on Artificial Intelligence and we strongly believe, that the path for it is to become a leading index of the industry, as the S&P500 for fashion.’
The IFDAQ10 Fashion Europe Index is the very first automated index for the fashion industry that is intelligently weighted and calibrated by EDAQS’ IFDAQ III AI-system in the background. Developed in cooperation with EDAQS Alpha Research, a smart quantification and prognostic algorithm is analyzing the fashion company’s market share as well as seasonal development to decrease or increase the allotment of positions within the Index.
The index composition includes the ten most important fashion companies form the European Market, including Hennes & Mauritz, Inditex, Kering, LVMH or Christian Dior. The first papers were available on January 22nd 2016 and bgeann trading publicly on January 25th 2016. Lang & Schwarz AG served as the issuer of the Index and filed the ISIN registration statement.
The official publicly quoted companies that are traded within the IFDAQ 10 FASHION EUROPE Index, are the following:
STATUS SEEDED
ADIDAS AG (DE000A1EWWW0)
BURBERRY (GB0031743007)
CHRISTIAN DIOR (FR0000130403)
HENNES U MAURITZ (SE0000106270)
HERMES INTL (FR0000052292)
HUGO BOSS (DE000A1PHFF7)
INDITEX (ES0148396007)
KERING (FR0000121485)
LVMH MOET HENNESSY LOUIS VUITTON SE (FR0000121014)
YOOX NET-A-PORTER GROUP (IT0003540470)
STATUS RESERVE
GEOX (IT0003697080)
LUXOTTICA GROUP (IT0001479374)
MULBERRY GROUP PLC (GB0006094303)
PUMA SE (DE0006969603)
TOD’S (IT0003007728)
Further Information on the IFDAQ10 Fashion Europe as well as current prices can be found on the following websites:
About Fashion One Group (FOG)
The Fashion One Group Int’l (FOGI) is one of the leading managements of digital fashion brands which enjoys exceptional reputation in developing new fashion platforms and technological innovations.
The mission is to represent, promote and manage digital fashion brands and to control their persistent quality to provide the most accurate professional information and research results for the fashion industry.
Along with a number of operative partners, FOGI are continually developing and supporting new and innovative research projects to expand our international network of fashion related projects, which also includes the world’s largest fashion database and the active support of the first quality surveillance for professional modeling agencies.
About EDAQS
EDAQS is a high tech company that combines the accuracy of automated computational systems with advanced Artificial Intelligence to provide more transparency and the uppermost precise hi-tech systems. For more information, visit: http://www.edaqs.com/about/ and http://www.edaqs.com/who-we-are/
Disclaimer
This press release may include forward-looking statements and shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
