Island Pacific, a division of SVI Solutions, Inc. (AMEX: SVI) announced today at the Retail Systems 2003 Conference and Exhibition at McCormick Place in Chicago that they have launched Einstein in a Box™, retail management software for newer retailers and those with 15 stores or fewer.
“This is the ‘smartest ever’ off-the-shelf software package for newer and smaller retailers,” said Steve Beck, Island Pacific president and chief operating officer. “Einstein in a Box offers the lowest possible cost of ownership and maintenance. It is without a doubt the fastest, easiest, simplest way for a retailer to gain full control over their entire retail, point of sale and merchandising processes.” Einstein In A Box is designed to deliver fully integrated application capabilities including: Item Definition, Purchase Order Management, Receiving, Distribution and Inventory Control, Price Management, Basic Stock and Merchandise Analysis, Sales Audit, Ticketing, The EyeTM Explorer and OnePointe POS. The entry level package also offers a natural upgrade path to Island Pacific's most sophisticated IPOne™ Retail Solutions bundle, providing full investment protection for the retailer as its operations grow.
“Most of the key retail software vendors are ignoring this market segment,” said Harvey Braun, Island Pacific chief executive officer. “While these smaller retailers’ budgets are significantly lower than their larger counterparts, there are over 900,000 retail operations that fall into this category while there are only 600 target businesses at the highest tier segment. The market potential is in the billions.”
Beck added, “Einstein in a Box also allows us to capture the retailer early. Many of our most satisfying customer relationships are with retailers who started with us much smaller than they are today – some have grown more than ten-fold since we first implemented their system. By making it very easy for the retailer to upgrade as their operations grow, we intend to earn a customer for life. This doesn’t stop at the product. We are committed to doing everything possible to build a solid long-term relationship.”
Island Pacific is a supporting sponsor of the Small to Mid-sized Retailer (SMR) Solutions Center pavilion at Retail Systems 2003 and will be exhibiting in Booth #1335.
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. Island Pacific is a division of SVI Solutions, Inc. (AMEX: SVI). Founded in 1978, the company is headquartered in Irvine, California, and has offices in the United States and the United Kingdom. For more information, please visit www.islandpacific.com.
About SVI Headquartered in Carlsbad, CA, SVI provides multi-channel technology solutions to retailers. The company's suite of offerings includes store systems as well as enterprise management, merchandising and direct-to-consumer solutions. Complementing these offerings, the Company provides an expansive menu of professional services including consulting and implementation services, as well as technical and project management services. SVI maintains offices in the United States and the United Kingdom. More information about SVI can be obtained at www.svisolutions.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 Form 10-K (as amended) for the fiscal year ended March 31, 2002 and other risk factors identified from time to time in the Company’s filings with the Securities and Exchange Commission. SVI 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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