SVI Announces the Return of Island Pacific
FOR IMMEDIATE RELEASE
Contact:
Kathryn Scott
SVI
949-440-3193
Email: kathrynscott@islandpacific.com
— Name change reflects the company`s compelling `back
to the future` strategy —
Carlsbad, CA – April 3, 2002 – SVI Solutions, Inc.
(AMEX: SVI) has announced that one of its operating
divisions, currently known as SVI`s Merchandise
Management Systems group, will return to its original
name, Island Pacific. Along with the name change, the
company has implemented a compelling `back to the
future` strategy that will serve to differentiate
Island Pacific from the competition and allow them to
take a position of leadership in the market.
The name change of this group reflects the company`s
efforts to refocus the mission of SVI. “SVI has
announced that we will now focus on the management of
retail software companies,” said Barry Schechter,
SVI’s Chairman and Chief Executive Officer. “An
aggressive growth strategy has been put in place to
support this mission and is already underway. One of
the key changes required was to create distinct
operating divisions of the current retail groups. The
groups will continue to work together to serve
customers, but will also be allowed to focus on their
individual strengths. Island Pacific is returning to
a name which has an excellent, long standing
reputation in the industry and reflects the division`s
strengths.”
Island Pacific combines two SVI acquisitions, Island
Pacific Systems acquired in 1999 and Marketplace
Systems acquired in 2000. “Island Pacific Systems
brought a highly-respected team, retail industry
knowledge and a 23-year history of producing
enterprise software to SVI,” said Coleen McNally,
Chief Operating Officer, Island Pacific, and an Island
Pacific Systems veteran. “Combined with the team and
technology of Marketplace Systems, with strong
direct-to-consumer offerings, the new Island Pacific
will be an industry powerhouse.”
The Island Pacific brand has remained very strong.
“Although we dropped the name for awhile, it still has
wide recognition in the industry,” added McNally. “We
believe our `back to the future` strategy will be
compelling to both our customers and prospects. Our
long-time customers already know the value the Island
Pacific team can bring to their operations. Potential
customers will benefit from the same expertise and
level of commitment we have offered in the past. But
the `future` is what the team members, new technology
and support of our parent company, SVI, brings to our
organization. These are very exciting times.”
The name change will be addressed in an upcoming
dial-in telebriefing, "Integrated Retail Solutions
2002,” being hosted by SVI/Island Pacific and
moderated by AMR Research on April 4, 2002 at 1:00
p.m.EST/10:00 a.m. PST. The telebriefing is free of
charge and open to retailers with multiple store
locations. The companies will provide an overview of
the state of the retail market, an update on
SVI/Island Pacific, and a discussion on the direction
of integrated retail technologies in 2002 and beyond.
Participants will also get a chance to ask questions
of the AMR Research and SVI/Island Pacific executives.
Retailers interested in participating in the April
4th telebriefing can register at SVI`s Web site,
www.svisolutions.com or e-mail Yvie at
ylafond@amrresearch.com.
About Island Pacific
Island Pacific, a division of SVI Solutions, Inc.
(AMEX: SVI), provides multi-channel technology
solutions to retailers. The company’s complete suite
of software applications provide retailers with the
ability to efficiently, effectively, and profitably,
manage their corporate merchandising business
processes. Complementing its product offerings, the
Company provides an expansive menu of professional
services including consulting and implementation
services, as well as technical and project management
services. Headquartered in Irvine, California, Island
Pacific has sales offices in the United States and the
United Kingdom. Its worldwide customer base includes
major retailers such as American Eagle Outfitters,
Charming Shoppes, Chick’s Sporting Goods, The Limited,
Nike, Signet, Toys "R" Us and Vans, Inc. More
information about Island Pacific can be obtained on
their website at www.islandpacific.com.
About SVI
SVI is a global company, headquartered in Carlsbad,
CA, with operating division offices in Carlsbad,
Irvine and London. The company manages retail software
companies. These companies offer multi-channel
technology solutions such as store solutions,
enterprise management, merchandising and
direct-to-consumer solutions for leading retailers
such as Home Depot, The Limited, Nike, OfficeMax, Toys
"R" Us, and Vans, Inc. to name a few. For more
information, please go to SVI’s website 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, 2001 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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