Company Acquires 23 New Customers for its Product Lifecycle Management Solutions
San Francisco – July 15, 2003 –Freeborders, Inc. today announced results for its first half ended June 30, 2003. A private company, Freeborders saw year-over-year bookings increase 21 percent and gained 23 new customers, including Mossimo, Polo Ralph Lauren, Oxford Industries and Pringle. In the second quarter, year-over-year bookings increased 45 percent. Freeborders provides Product Lifecycle Management (PLM) solutions for the retail and apparel industry, helping its customers achieve four key benefits: reduced costs, faster product development cycle times, better inventory management and improved quality.
Freeborders’ first half results were broadly distributed across both existing and new customers, between license revenue and services, and across its entire PLM product line. Freeborders’ products and modules map to different elements of the product development process from design creation through specifications management to sourcing and production.
Freeborders’ performance shows increasing acceptance of PLM and its solutions in the retail industry, where 80% of the total product cost—including manufacturing and distribution—is committed during the upfront product design and development phases. Freeborders PLM products and services allow critical product decisions to be made earlier, faster and more accurately to help reduce costs throughout the rest of the product cycle.
According to Jeff Roster of Gartner, this increased demand is part of a larger industry trend, “Retailers are shifting from being technology phobic to technology centric as key business strategies are becoming increasingly underpinned by technology.”
Paul Fusco, CIO of J.Crew says, “In terms of IT strategy, we’re squarely focused on product development. We expect to see gains across the board, from productivity improvements through supporting top-line revenue growth.”
“We are gratified by the increasing demand we see for PLM solutions by brands, retailers and manufacturers,” said Ramsey Walker, co-CEO of Freeborders. “Our first half performance illustrates our progress in meeting that demand, delivering product development software and services that provides four key benefits to apparel customers today: improving cost, speed, inventory and quality.”
About Freeborders
Freeborders (www.freeborders.com) provides Product Lifecycle Management (PLM) software and consulting services that enable leading brands, retailers, and manufacturers to streamline product development processes and collaborate more efficiently. Its solutions help customers cut product cycle times, reduce design and development costs, and meet the ever-increasing demand to bring products to market quickly. Freeborders software and services are used by over 350 brands and retailers globally, including Dillard’s, DuPont, Gap, J.Crew, L.L.Bean, Lands` End, Liz Claiborne, Saks, Target and Williams-Sonoma. Freeborders is headquartered in San Francisco, with offices throughout North America, Europe, and Asia.
Contact:
David Knudsen
Freeborders, Inc.
(415) 433-4700 x214
dave.knudsen@freeborders.com
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