New York based deep-tech firm Verneek will plant its first European flag in Luxembourg, a move that positions the AI specialist to court retailers across the continent grappling with operational strain.
Verneek builds AI-native operating platforms tailored to retail and wholesale, sectors that together employ more Europeans than any other private industry. The expansion hinges on final agreements, so the company has yet to announce a timeline or headcount for the new office.
Dr. Nasrin Mostafazadeh, who cofounded Verneek five years ago with her husband Dr. Omid Bakhshandeh, framed the Luxembourg push as a natural growth step. “Retail and wholesale together are Europe’s largest private-sector employer,” she said in a statement. “Companies across the sector face mounting operational headwinds, the kinds of challenges our AI-native operating platform is designed to address.”
Luxembourg won out for practical reasons. Mostafazadeh cited its central geography, multilingual talent pool, links to major markets, and influence over EU policy. Luc Decker, Luxembourg’s consul general in New York, welcomed the move, saying it offers a chance to “build local expertise and help European businesses put artificial intelligence to practical use.”
The company distinguishes itself from competitors by being AI-native from day one, not a legacy software firm bolting on AI capabilities. Its platform converts fragmented enterprise data into custom tools for front- and back-office retail operations, attacking what Mostafazadeh calls “the silos that retailers have been living with.”
Nordstrom serves as an anchor client, with additional partnerships still under wraps. Meanwhile, Geoffroy van Raemdonck, CEO of the Exemplar Luxury Group which runs Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman, holds a minority stake. The founders retain majority ownership.
Verneek reports its technology reaches tens of millions of consumers and supports several hundred thousand employees across supply chain, merchandising, store operations, and customer care. Luxembourg now becomes the launchpad for extending that footprint deeper into European markets.
