Island Pacific (AMEX:IPI) announced at the National Retail Federation (NRF) 93rd Annual Convention and Expo that it has signed a contract with Tadashi Shoji and Associates, Inc., dba Tadashi, an upscale women’s apparel company. This is the first new customer to be signed in partnership with Retail Technologies International, Inc. (RTI) and one of its distributors, OneStep. IP recently announced its intent to acquire RTI, a leading provider of retail management store solutions via an international network of resellers.
Tadashi designs and manufactures a distinctive line of clothing for women that are carried at upscale retailers worldwide. The company plans to open its first signature store in South Coast Plaza, Costa Mesa, CA in 2004. “Tadashi was evaluating software to support its new retail operations. In the end it came down to two vendors, RTI and Retail Pro or Island Pacific and IP Express,” said Steve Beck, Island Pacific president and chief operating officer. “It was a tough decision. Tadashi felt both companies had strong product offerings. Our acquisition announcement made the decision very easy for them.”
“We conducted a thorough search of software suites that support emerging retailers,” said Curtis Jung, general counsel for Tadashi Shoji and Associates. “IP and RTI came out on top in our evaluations and it was difficult to decide which company to choose. When we found out the two companies would become one, we were extremely pleased. Now we could benefit from the strengths that we saw in both companies. We immediately signed the deal.”
“This contract, signed on the heels of our acquisition announcement, is an indication of the strength our two companies have now that we have combined our solutions and resources,” said Harvey Braun, Island Pacific chief executive officer. “Together, IP and RTI have created a global powerhouse and distribution channel whose innovation and commitment to its customers will lead the industry.”
Island Pacific and Retail Technologies International are exhibiting this week at the National Retail Federation (NRF) 93rd Annual Convention and Expo being held at the Jacob Javits Convention Center in New York City. Island Pacific will be in Booth #315 and Retail Technologies International will be in Booth #1971.
About Tadashi Shoji and Associates The Tadashi label of distinctive clothing for women is carried at upscale retailers, and his chic clothes collections are worn on the backs of well-dressed women worldwide. For more information, please visit www.tadashicollection.com.
About Retail Technologies International, Inc. Founded in 1987, Retail Technologies International, Inc. (RTI) is the global leader in retail management systems. RTI’s flagship product, Retail Pro®, is used by more than 25,000 stores in 63 countries. For over 18 years RTI has been a thought leader in POS and inventory management, providing flexible, best of breed solutions for retailers. A partial list of current customers includes Louis Vuitton, Gucci, Fendi, Valentino, Swarovski, Play It Again Sports, The Body Shop, PUMA, Diesel, Betsy Johnson, Black and Decker, Hugo Boss, The Staples Center, Yosemite National Park, Yellowstone National Park, and Squaw Valley, USA. RTI is privately held, with headquarters in Folsom, CA. For more information, please visit www.retailpro.com.
About Island Pacific For more than 25 years, Island Pacific has developed a reputation for delivering high-quality, high-reliability software to the retail industry. Recently, the company has transformed itself into the low-cost, high-value provider of retail enterprise solutions by developing breakthrough technologies, and by partnering with leading consulting organizations to provide next-generation services. In addition, Island Pacific leverages its years of experience with emerging and established retailers to craft creative solutions tailored for each customer’s needs. As a result, Island Pacific is the definitive resource for scalable, flexible and affordable solutions for retailers around the world.
With nearly 200 customers, Island Pacific and its solutions are represented in more than 30,000 stores worldwide, and manage more than 1.5 billion transactions annually. Founded in 1978, the company is headquartered in Irvine, California, and has offices in the United States and the United Kingdom. Its worldwide customer base includes major retailers such as American Eagle Outfitters, Charming Shoppes, Timberland, Chick’s Sporting Goods, The Limited, Nike, Signet, Vans, Inc, and Toys "R" Us. For more information, please visit www.islandpacific.com.
Certain statements contained in this news release regarding matters that are not historical facts are forward-looking statements. These statements relate to future events or the Company's future performance. These statements are only predictions. Because such forward-looking statements include risks and uncertainties, actual results may differ materially from those expressed in or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the risk factors listed in the Company's (SVI) Form 10-KA for the fiscal year ended March 31, 2003 and other risk factors identified from time to time in the Company's filings with the Securities and Exchange Commission. IPI undertakes no obligation to release publicly any revisions to the forward-looking statements to reflect events or circumstances after the date of this news release or to reflect the occurrence of unanticipated events.
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