Quantum Retail Outgrows Mpls. HQ, Plans Hiring
Quantum Retail Technology—whose software makes real-time recommendations to retail clients regarding their store inventory and supply-chain needs—said Tuesday that it has outgrown its former headquarters and moved into a new space in the Campbell Mithun Tower in downtown Minneapolis.
And the company is eyeing additional growth, both in terms of revenue and employees, according to Chief Sales and Marketing Officer Mike Hrabe.
Quantum Retail, which was formerly located in the Fifth Street Towers in downtown Minneapolis, “continues to be in growth mode,” Hrabe said. The new 12,000-square-foot headquarters, located at 222 South Ninth Street, Suite 900, is nearly twice the size of its previous space.
The company, which employs 85, expects to reach a headcount of 100 during the next couple of quarters, and it “expects growth to continue beyond that,” Hrabe said. The business will hire in a wide variety of positions, he added.
Meanwhile, Quantum Retail expects 2012 revenue to grow by 20 to 25 percent over last year, according to Hrabe, who declined to disclose the privately held company’s sales figures.
Quantum Retail’s software gauges consumer behavior and inventory levels in real time to help retailers make more profitable product distribution decisions. Current clients include California-based Guitar Center, New Jersey-based Children’s Place, and Missouri-based Famous Footwear.
Hrabe said that none of the Twin Cities’ largest retailers are currently on Quantum Retail’s client roster, “but we hope that changes in the coming year or two.”