LAS VEGAS, NV--(Marketwired - October 10, 2016) - Grey Cloak Tech, Inc. (OTCBB: GRCK) today announced that ShareRails has launched its Dressli e-commerce tool in China. The launch expands the reach of the shopping platform, which is currently available in the United States, Japan, the United Kingdom and Australia.
Dressli, ShareRails' debut marketing technology product, encourages omnichannel retail sales through the strategic use of social media influencers and an innovative suite of marketing tools.
"We've listened to our shoppers, influencers and retail partners, and we've recognized a demand for Dressli overseas," says Joseph Nejman, President of ShareRails. "Our launch in China will be one of many market expansions into Asia. We're looking forward to contributing to our mission of democratizing retail on a global scale, and this is an exciting step."
The product launched in the U.S. in 2015 and currently enables leading fashion publishers and over two-thousand independent stylists worldwide to drive sales for retailers including Amazon, Nordstrom, Burberry, ASOS and FarFetch.
"Not only will the launch better equip influencers in the region for success, but it makes Dressli more valuable to our retail partners that benefit from exposure in new markets," says William Bossung, Co-Founder and CFO of Grey Cloak. "Furthermore, our shareholders will benefit from the additional potential revenue resulting from the expansion."
In addition to online-only retailers, Dressli hosts and publishes the inventories of brick-and-mortar merchants and plans to expand its physical retail catalog in the coming months. By integrating physical inventory into an accessible online shopping tool, Dressli is able to drive traffic to traditional storefronts, connecting brands with local shoppers ready to buy.
"Online to offline" technologies, such as Dressli, have received increased attention since Amazon announced its own expansion into brick-and-mortar storefronts. The growing market, Marketing Expansion Services (MES), is poised to reach $3.8 trillion by 2018 in the U.S., alone.
Grey Cloak Tech and ShareRails announced the signing of a binding Letter of Intent on September 15th, 2016. The Letter of Intent details the acquisition of ShareRails by Grey Cloak Tech, including obligations and conditions as required by Regulation S-X of the Securities Exchange Act.
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Certain statements contained herein are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). Grey Cloak Tech, Inc. cautions that statements, and assumptions made in this news release constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates made by management. Actual results could differ materially from current projections or implied results. Grey Cloak Tech, Inc. undertakes no obligation to revise these statements following the date of this news release.
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