ESPRIT SELECTS RETEK® SOLUTIONS TO IMPROVE MERCHANDISING OPERATIONS
Global Fashion Wholesaler and Retailer to Leverage Retek’s Rapid Deployment Process for a Fast Speed to Benefit
MINNEAPOLIS — August 21, 2003 -- Retek Inc. (Nasdaq: RETK) announced today that Esprit Europe, an international fashion wholesaler and retailer, has selected Retek® Merchandising Operations ManagementTM solutions to integrate and streamline retail operations and support international growth. Esprit directly manages 540 retail outlets and franchises over 2500 shops worldwide, with annual sales of $1.2 billion (USD).
“With the continued growth of our retail operations, it has created the need for a more advanced and efficient information infrastructure to better serve our customers,” said Jerome Griffith, Global Retail Manager at Esprit. “Implementing the Retek solutions will enable us to streamline and automate our operations with a single, comprehensive source of accurate sales and inventory information, exception driven management based on retail alert information, improved promotions handling and improved merchandise allocation.” Thomas Jesewski, IT Manager at Esprit Europe, added, “Retek solutions offer scalable and flexible technology with an innovative implementation approach that enables quick deployment.”
Retek® Merchandise Operations ManagementTM solutions, including Retek® Merchandising SystemTM (RMS) and Retek® Data WarehouseTM (RDW), help retailers provide the right product, to the right place, at the right price. Retek’s mid-market rapid deployment process simplifies and speeds the implementation by exploiting efficiencies derived from processes and programming developed on multiple Retek implementation projects.
“We are delighted that Esprit has selected Retek solutions to improve its merchandising, data warehousing and allocation operations,” said Duncan Angove, chief strategy officer with Retek. “Esprit is another example of a retailer that is taking advantage of Retek’s rapid deployment process that provides mid-market retailers a fast and low risk implementation strategy.”
About Esprit
Headquartered in Hong Kong, Esprit Holdings Limited is engaged in the design, sourcing, retail and wholesale distribution and licensing of quality and lifestyle products under the globally recognized ESPRIT brand name. It has become a listed company in Hong Kong since 1993 (SEHK: 330) and has a secondary listing on the London Stock Exchange since December 1998 (LSE: EPT LI). It is also a constituent stock of the Hang Seng Index and Morgan Stanley`s MSCI Hong Kong Index.
About Retek Inc.
Retek Inc. (Nasdaq:RETK) is the leading provider of mission-critical software and services to the retail industry. Retek solutions integrate 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.
Retek Media Relations Contact:
David Naumann
612-587-2522
david.naumann@retek.com
Retek Investor Relations Contact:
Bob Kleiber
Vice President, Investor Relations
612-587-2398
robert.kleiber@retek.com
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