CVO Coveo Solutions Inc

Market-leading AI platform will improve product discovery, support business growth and create remarkable customer experiences for the leading German-language bookseller

MONTREAL and HAGEN, Germany, June 3, 2024 /PRNewswire/ - Coveo (TSX: CVO), the leading enterprise AI platform that brings AI search and GenAI to every point-of-experience, enabling remarkable personalized digital experiences that drive business outcomes and Thalia Bücher GmbH, the Hagen-based book retailer, announced today that Thalia has chosen Coveo to deliver AI search, recommendations and personalization on their commerce website.

Thalia has more than 500 bookstores across German-speaking countries in its network, 6,500 employees and a strong digital presence across with their online commerce and app experience. Thalia is growing and plans to double their marketplace from 20 million items to 40 million items within the next three years. To achieve its ambitious growth targets and meet the changing needs of consumers, Thalia is entering into a partnership with Coveo to provide a true 1-1 experience and improve product discovery through AI-powered search and personalization. Together, Coveo and Thalia will personalize the shopping experience to help book enthusiasts find exactly what they are looking for, and help Thalia reduce manual site maintenance and deliver positive business outcomes.

"Coveo is exactly the right partner for us," said Roland Kölbl, CCO at Thalia. "With their decade of AI experience, AI search and recommendations, and strength in security, Coveo is the best option to effectively support our strong growth targets in the digital sector."

"Thalia understands the importance of integrating AI into their commerce experience to create remarkable customer experiences," said Nick Bowles, Managing Director for EMEA at Coveo. "Providing relevant, personalized search and recommendations for brands with large and diverse catalogues even when a shopper is not logged in is where Coveo's AI platform really shines. We have no doubt that Thalia shoppers will enjoy the new experience and return time and time again."

Thalia's new AI-powered commerce site will be refreshed using the Coveo Platform^TM later this year. Just in time to find the perfect holiday gifts.

Thalia is adding to the long list of global brands that have chosen Coveo AI to power their commerce, customer service, website and/or workplace experiences like SAP America (Concur), Xero Limited, Famous Footwear, Sam Edelman, Fleetpride, and LCBO. Coveo was recently named a Leader in the 2024 Gartner® Magic Quadrant™ for Search and Product Discovery. Download your complimentary copy of the report.

Our passion for reading and books has been our foundation since 1919. That was when the first Thalia bookstore was founded in Hamburg. Today, the independent family business with headquarters in Hagen is the market leader in Germany, Austria and Switzerland.

We offer a stage for diverse content and stories in every form - in brick-and-mortar bookstores and digitally on our online channels. With our omni-channel approach, we enable our customers to shop across all channels at any time. Around 500 bookstores make up the Thalia network in German-speaking countries. Thalia also has a strong digital presence through our online store and our own app.

Around 6,500 employees at our locations and in our bookstores work with passion and dedication to ensure that our customers can choose from a unique range, receive expert advice and enjoy their shopping experience. At Thalia, we want to inform, entertain and inspire you in the best possible way with our range in your individual living environments.

We strongly believe that the future is business-to-person, that experiences are today's competitive front line, a make or break for every business. We also believe that remarkable experiences not only enhance user satisfaction but also yield significant gains for enterprises. That is what we call the AI-experience advantage – the degree to which the content, products, recommendations, and advice presented to a person online aligns easily with their needs, intent, preferences, context, and behavior, resulting in superior business outcomes.

To realize this AI-experience advantage at scale, enterprises require a robust, spinal and composable infrastructure capable of unifying content securely and delivering AI search, AI recommendations, true personalization, and a trusted generative experience at every touchpoint with each individual customer, partner and employee.

Coveo is dedicated to bringing this advantage to every point-of-experience, using powerful data and AI models to transform the enterprise in commerce, customer service, website and workplace.

The Coveo platform is ISO 27001 and ISO 27018 certified, SOC2 compliant, HIPAA compatible, with a 99.999% SLA available. We are a Salesforce Summit ISV Partner, an SAP Endorsed^Ⓡ App, an Adobe Gold Partner, MACH Alliance member and a Genesys AppFoundry ISV Partner.

Coveo is a trademark of Coveo Solutions Inc.

This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws (collectively, "forward-looking information"). This forward-looking information is identified by the use of terms and phrases such as "may", "would", "should", "could", "might", "will", "achieve", "occur", "expect", "intend", "estimate", "anticipate", "plan", "foresee", "believe", "continue", "target", "opportunity", "strategy", "scheduled", "outlook", "forecast", "projection", or "prospect", the negative of these terms and similar terminology, including references to assumptions, although not all forward-looking information contains these terms and phrases. In addition, any statements that refer to expectations, intentions, projections, or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates, and projections regarding future events or circumstances.

Forward-looking information is necessarily based on a number of opinions, estimates, and assumptions that we considered appropriate and reasonable as of the date such statements are made. Although the forward-looking information contained herein is based upon what we believe are reasonable assumptions, actual results may vary from the forward-looking information contained herein. Certain assumptions made in preparing the forward-looking information contained in herein include, without limitation: our ability to capitalize on growth opportunities and implement our growth strategy; our ability to attract new customers, both domestically and internationally; the success of our efforts to expand our product portfolio and market reach; our ability to maintain successful strategic relationships with partners and other third parties; our future capital requirements; the available liquidity under our revolving credit facility; the accuracy of our estimates of market opportunity and growth forecasts; our success in identifying and evaluating, as well as financing and integrating, any acquisitions, partnerships, or joint ventures; our ability to execute on our expansion plans; and the future impact of the COVID-19 pandemic. Moreover, forward-looking information is subject to known and unknown risks, uncertainties, and other factors, many of which are beyond our control, that may cause the actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to macro-economic uncertainties and the risk factors described under "Risk Factors" in the Company's most recently filed Annual Information Form available under our profile on SEDAR at www.sedar.com. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, prospective investors should not place undue reliance on forward-looking information, which speaks only as of the date made.

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SOURCE Coveo Solutions Inc.