TradeCard Reports Stellar 2004 Growth
Cements market leadership with high-profile customer wins, widespread recognition
New York, January 26, 2005 – TradeCard Inc., the leading provider of on-demand financial supply chain products, today announced that its 2004
revenue was up 129 percent from 2003. This marks the second consecutive year that the company more than doubled its revenue.
The 2004 growth was powered by a series of high-profile customer wins, including:
•Rite Aid Corporation (NYSE: RAD), a Fortune 500 drugstore chain.
•Kellwood Company (NYSE: KWD), a Fortune 1000 marketer of apparel and consumer soft goods.
•Columbia Sportswear Company (Nasdaq: COLM), one of the world’s largest outerwear brands.
•Dick’s Sporting Goods (NYSE: DKS), a Fortune 1000 sporting goods retailer.
•Brooks Sports, a running company recently acquired by Russell Corporation (NYSE: RML).
•Sole Technology, maker of popular skate shoe brands such as Etnies and Emerica.
•One of Europe`s most recognizable footwear brands.
•A household name for men’s casual and dress apparel.
•A publicly traded provider of upscale sportswear.
Through its web-based platform, TradeCard connects buyers and suppliers online, enabling them to transact more profitably, as well as access integrated financial and trade services.
New Customers Herald Transition to Mainstream Market
“Just a few years back, what we did was seen as revolutionary – the province of executives who’d take a chance on new ideas to solve old problems,” says Kurt Cavano, TradeCard’s chairman and chief executive officer. “Today, you can’t go into a home in North America that doesn’t have a product procured over TradeCard. 2004 was more than a great growth story for us – it was the year we took automation of the financial supply chain mainstream.”
TradeCard is fast approaching industry-standard status in footwear and apparel, amassing a customer roster that reads like a virtual “who’s who” of these industries. Within retail – a newer market for TradeCard – the company already has seven industry stalwarts as customers.
Customer Satisfaction Drives Increased Volume, Global Expansion
In 2004, TradeCard saw a near 100% increase in the volume of transactions processed over its platform. The growth carried TradeCard’s annual transaction volume deep into the billions (USD).
According to Cavano, “Our existing customers were a big part of the increase. Every single buyer boosted their transaction volume this year.”
Likewise, business with suppliers remained strong, as TradeCard signed on nearly 500 companies in China, Hong Kong, India, Korea, Taiwan, Vietnam and other countries. TradeCard also continued its success in Europe, where its new office brought on suppliers in approximately 10 countries. All together, TradeCard now counts customers in 34 countries. “What we’re doing is providing a technical, financial and legal framework for global trade,” says Cavano.
Numerous Accolades Solidify Market Leadership
In 2004, TradeCard won Global Finance Magazine’s prestigious Best Online Trade Finance Provider award for the fifth consecutive year. The company was also the recipient of Supply and Demand Chain Magazine’s 2004 Executive 100 Award, an honor given to supply and demand chain innovators.
World Trade Magazine recognized Cavano as one of its Fabulous 50, a list of leaders transforming global trade. He was honored alongside luminaries such as Thomas Friedman, the foreign affairs columnist for The New York Times, and Fred Smith, FedEx’s founder and CEO.
In addition to these awards, TradeCard garnered positive 2004 coverage from several top analyst firms, including AMR Research (Branded Apparel Manufacturers Use TradeCard to Improve Trade Finance, December 2004) and Gartner G2 (Apparel Company Integrates Trade Finance With Supply Chain, November 2004).
About TradeCard
TradeCard, the leading provider of on-demand financial supply chain products, is revolutionizing global trade with a web-based platform that automates the financial processes in supply chains that have been plagued with decades-old paper-based solutions. By using TradeCard, buyers and sellers can manage their transactions with complete visibility to initial orders through final settlement. TradeCard`s global network of partners provides additional automated services on the platform including supply chain financing, credit protection, money movement and inspection. In addition to process improvements, customers realize immediate cost savings, optimized cash flow, reduced reliance on credit lines and improved supply chain relationships. Headquartered in New York City, TradeCard Inc. has offices in San Francisco, Hong Kong, Brussels, Taipei, Seoul, Tokyo and Shenzhen. TradeCard is a registered trademark in the United States and elsewhere throughout the world. TradeCard is located online at www.tradecard.com.
****
This press release contains a number of matters that constitute forward-looking statements. The presentation reflects the current views of TradeCard`s management with respect to future events and is subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements.
Lois Bruu
TradeCard
+1-212-402-3298
lbruu@tradecard.com
Rurik Bradbury
Fitzgerald Communications (For TradeCard)
+1-212-771-3687
rbradbury@fitzgerald.com
Back...
