January 30, 2001, 5:16 PM
Cyber Merchants Exchange signs new retailers
Cyber Merchants Exchange has signed four retailers who have agreed to use the company's international, web-based merchandise sourcing platform. The new retailers are McWhorter's, Sacks SFO and Susie's Deals, all based in California, and L & L Wings, based in New York. This arrangement allows these retailers to connect with an unlimited number of manufacturers abroad through Cyber Merchants Exchange's web based Internet Sourcing Network. The ISN consists of customized private extranets that connect retail buyers with vendors domestically and globally; each extranet is built according to each retailer's merchandising requirements. These four retailers join Burlington Coat Factory and Factory 2-U Stores in using the exchange. "Cyber Merchants Exchange is designed for retailers who recognize the strategic value of gaining access to global supply sources for merchandise," says Frank Yuan, chairman and CEO. "In addition, our innovative global financing platform provides those retailers the opportunity to source goods globally without the use of letters of credit."
McWhorter's operates 27 full line home office, gift, card and stationery stores for moderate to upper moderate customers. McWhorter's also operates 10 Express stores. Sacks SFO is a contemporary retailer for the fashion forward shopper seeking deals. Susie's Deals operates 60 stores offering fashionable family apparel and accessories at low prices. L & L Wings operates 37 stores in beach resort areas catering to vacationing families and features everything from apparel to snorkel gear.