San Francisco, California, April 13, 2016 — Gower Smith, the founder of ZoomSystems, has been appointed CEO of Swyft Inc., a technology company revolutionizing the high-end automated retail industry.
“Smith brings tremendous knowledge and experience to Swyft,” said President and COO Richard Hashim. “Smith — having invented the first high-tech vending machines — is widely regarded as the founder of the automated retail industry.”
Smith started ZoomSystems in 2002, launching the first automated retail store in 2005. Revenues grew 2,194 percent from 2003 to 2007. In 2007, ZoomSystems was recognized by Deloitte as the No. 2 fastest-growing company in Silicon Valley, and has partnered with companies such as Apple, Sony, Proactiv, AT&T, Benefit Cosmetics, Best Buy, L’Oréal, Macy’s, Media-Saturn, Nespresso and NTT. Smith handed off his CEO responsibility at ZoomSystems in 2011.
In 2013, Smith co-founded Swyft Inc. to provide increased convenience to customers through a more scalable and disruptive next-generation automated retail business.
Swyft offers retailers a low-risk, turnkey solution to quickly enter the profitable and expanding automated retail segment in high-profile locations, such as malls and airports.
“CEOs of every major retail brand are focused on increasing their sales, increasing their profits and enhancing their brand presence,” Smith said. “At Swyft, we deliver all these strategic benefits and with economies of scale.”
Swyft’s clients have the option to lease the hardware, lowering the capital expenditure required to enter the automated retail channel.
“Swyft offers its partners extremely low monthly fees to deploy and manage the network,” said Hashim.
“High-end automated retailing has been proven to be the most profitable per square foot retail method,” said Smith. “Many automated retail stores generate annual sales exceeding $1 million per store.”
Swyft anticipates a market potential of $1.5 billion in the US and $5 billion globally.