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Tageos to triple its RFID tag production

Information updated on 20/06/18
Tageos, a local company, was selected for the French Tech Pass because of its staggering growth. Tageos expects to triple its production of RFID tags at its Montpellier site to meet extremely high demand in export markets.
Tageos produces RFID tags, “contactless chips” that are used notably by specialized distribution sectors (clothing, sporting goods, jewelry...) and many other industries to identify articles. 100% paper-based, and protected by a worldwide patent, the Tageos tags enable customers to save 20% to 30% with respect to competing products. Given the scale of the company’s target markets, this could represent savings of several million euros per year in consumable purchases. The Tageos RFID tag may be read in high volumes and does not require visual contact, enabling inventory to be taken in stores much more frequently than with bar codes. This leads to an improvement of nearly 30% in terms of inventory reliability, as well as a rapid increase in sales thanks to more accurate availability of articles in stores and on e-commerce sites. Tageos tags have attracted major clothing providers such as Decathlon.
Thanks to its staggering growth, the company was chosen for the French Tech Pass by Montpellier Métropole in late 2015.
Founded in 2007, then incubated at the Montpellier Méditerranée Métropole Cap Omega Business and Innovation Centre (BIC), Tageos generated sales revenue of about €3 million in 2015. The company plans to accelerate its already fast growth in the coming years, notably by expanding into American and Asian markets. Matthieu Picon, CEO and co-founder of Tageos, explains: “Last year, 80% of our business was in Europe, and 20% in the Americas. In 2016, we expect to at least double our overall sales revenue, thanks to very fast growth in the American market, which should represent 50% of the total.”
Tageos is gaining market share in a market that is itself expanding very quickly. The company will expand its Montpellier production center to meet this very high increase in demand, tripling production capacity starting in late 2016 to grow from its current level of 200 million units per year to reach 600 million. At the same time, the company is also planning to hire an additional twenty people for its sales department, divided across European and American markets. Tageos has had a subsidiary in the United States since 2013, and now plans to open a new location in North Carolina by the end of 2016.
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