Rapid Implementation Supports Fast Retailing`s Expanding Chinese Operations
MINNEAPOLIS - Oct. 29, 2002 * Retek Inc. (Nasdaq: RETK) announced today that Fast Retailing Co., Ltd., "Fast Retailing," (Tokyo Stock Exchange: 9983 on the first section) has implemented Retek merchandising solutions to support its expanding operations in China. Fast Retailing, one of Japan`s largest retailers, opened its first two stores in China on Sept. 30. Retek solutions have been chosen to form the backbone of Fast Retailing`s global retail information technology (IT) infrastructure, and will serve as the platform for Fast Retailing`s Japan operations as well as all new countries of entry. The rapid implementation for Fast Retailing`s China operations was executed in just nine months by NS Solutions Corporation, one of Japan`s leading system integrators. This implementation of a Retek merchandising solution is the first of its kind for a Japanese retailer.
"The China market is a great opportunity and very important to Fast Retailing," said Nobuo Domae, chief information officer with Fast Retailing. "Retek solutions provide a strong, scalable IT foundation for Fast Retailing`s expansion. NS Solutions provide rapid implementation of packaged solutions and solid project management skills. We are pleased to partner with Retek and NS Solutions Corporation. To have gone from a blank sheet to a completed project in just nine months is very impressive. We are thankful to all the parties involved."
Retek`s merchandising solution provides retailers with strong, scalable technology, giving retailers a single version of the truth to power coordinated operations. Armed with Retek`s scalable solutions, retailers are better able to provide consumers with the right product, at the right place and time, in the right quantities and for the right price.
"We are very proud to have worked with Retek`s retail packaged solutions in supporting Fast Retailing`s China ambitions," said Koichi Kitamura, general manager of the retail division for NS Solutions Corporation. "We are also very excited to be partnering with Retek in bringing their global solutions to the Japanese and Asian markets."
For the fast moving world of fashion retail, Retek solutions deliver significant value by helping retailers manage rapidly changing consumer demand. Retek merchandising solutions are also being implemented within Fast Retailing`s main corporate line of business in Japan.
"Fast Retailing is widely considered to be one of Japan`s leading retail organizations," said Ian Johnston, president of Retek Asia-Pacific. "We are proud to have worked along with NS Solutions Corporation in delivering on our promises with the rapid go-live of Fast Retailing China."
About Fast Retailing Co., Ltd.
Established in 1984, Fast Retailing`s UNIQLO brand has become one of Japan`s hottest outfitters by providing clothes that inspire people of all ages, nationalities and walks of life to dress casual. Fast Retailing does this by offering fashionable, high-quality items at the most reasonable prices possible-clothes that suit active modern lifestyles and enable wearers to express their own personal styles. To accomplish this, the Company manages all facets of its operations, including product planning, development and design, procurement of raw materials, production, distribution and sales, allowing it to minimize costs and ensure high quality. Fast Retailing continues to seek innovative ways to ensure UNIQLO`s future as Japan`s best-loved casual brand.
About NS Solution Corporation
NS Solutions Corporation is a leading Japanese system integrator with revenues of US $1.2 billion in fiscal 2001 and more than 3,000 professionals. NS Solutions` strength is its capability of providing a wide range of services, from enterprise solutions to networking, security, and database applications, for various vertical segments such as retailing, manufacturing, financial, and governmental. NS Solutions offers convenient one stop shopping solutions for system consulting, planning, development, maintenance and operations to many leading edge enterprises.
About Retek Inc.
Retek Inc. (Nasdaq:RETK) is the leading provider of mission-critical software and services to the retail industry. Retek 10 integrates collaborative software with patented predictive technologies, consulting services, and the best practices of customers and partners to help retailers create, manage and fulfill consumer demand. Leading global retailers including Tesco, Best Buy, Gap Inc., Sainsbury`s, Eckerd Corp. and Selfridges use Retek solutions. On the net: Retek at http://www.retek.com.
Retek is a trademark of Retek Inc. Other names may be trademarks of their respective owners. Forward-looking statements contained in this press release are made under the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated. Such factors are described from time to time in the company`s Annual Report on Form 10-K and other reports filed with the Securities and Exchange Commission.