Two Fashion Industry Leaders Establishing Standard for How Vendors and Retailers Work Together Online
Las Vegas, NV -- August 28, 2001 -- QRS Corporation (Nasdaq: QRSI), the leading expert in global sourcing and supply chain management solutions for the retail industry, and MAGIC International, a subsidiary of Advanstar Communications and the world`s largest organizer of tradeshows for the fashion and apparel industry, today unveiled their plan for MAGIConlineä Powered by QRS. At a press conference today at the MAGIC Marketplace, QRS chief executive officer, John Simon and Joe Loggia, president and chief operating officer of Advanstar Communications Inc. and president of MAGIC International were on hand to explain how their strategic alliance will result in increased revenue and decreased costs for the retail industry. The two executives highlighted how, starting today, vendors and retailers can access QRS` e-commerce applications on MAGIConline.
The relationship between QRS and MAGIC International combines the strengths of two industry leaders and aims to set a standard for e-commerce in the fashion and apparel industry. MAGIC International is the host of the world`s largest and most recognized apparel tradeshows that connect tens of thousands of vendors and retailers each year to view merchandise lines and conduct business at the MAGIC Marketplace. For 13 years QRS, through its suite of technology, business intelligence and service solutions, has helped retailers and vendors increase revenue, decrease costs and reduce cycle times throughout the product lifecycle.
"We chose to work with QRS because of their expertise in providing robust e-commerce applications for the fashion and apparel industry and we are enthusiastic about the capability they will bring to MAGIConline," said Joe Loggia of MAGIC International. "Of course tradeshow functionality and trend information will continue to be accessible through the site as well."
MAGIConline Powered by QRS customers can immediately take advantage of the robust technology and services of QRS` Tradeweaveä Showroom, which can be accessed through the site today. Tradeweave Showroom is part of QRS` Tradeweave Retail Network, which includes the Tradeweave Product Catalog, the world`s largest and most comprehensive retail item catalog, containing more than 80 million items; Tradeweave Message Exchange, the communications infrastructure that allows retailers and vendors to exchange critical business documents and information electronically; and Tradeweave Digital Photography, the leading digital imaging and content production service for the fashion and apparel industry. The fully integrated MAGIConline Powered by QRS is expected to be commercially available in the first quarter of 2002.
"We are pleased to bring our 13 years of experience, technology and services to an online marketplace that already delivers great value to the retail community," said John Simon of QRS. "With MAGIConline Powered by QRS, vendors and retailers will have a new way to work together resulting in decreased costs, increased sales and ultimately improved margins."
Customers visiting MAGIConline Powered by QRS at www.MAGIConline.com can currently access the resources that are essential to them:
· Vendor showrooms: Through MAGIConline Powered by QRS, vendors can now access the Tradeweave Showroom to quickly, easily and effectively create merchandise showrooms that buyers can visit 24 hours a day, seven days a week, 365 days a year to conduct pre-season planning, purchasing and in-season replenishment extending the benefits of MAGIC International tradeshows throughout the year and resulting in increased revenue, lower costs and reduced purchase-order processing time. Fully integrated e-commerce capabilities will be available in the first quarter of 2002.
· Expanded tradeshow functionality: Information about MAGIC International -- including exhibitor listings for all MAGIC shows; floor plans; schedules of events; and appointment scheduling tools -- are available.
· Cutting edge content: Comprehensive business intelligence and trending and forecasting resources can be accessed for free -- helping buyers and sellers make better business decisions.
About Advanstar
Advanstar Communications Inc. is a worldwide business information company serving specialized markets with high quality information resources and integrated marketing solutions. Advanstar has 103 business magazines and directories, 84 exhibitions and conferences, numerous Web sites, and a wide range of direct marketing, database and reference products and services. Advanstar serves targeted market sectors in such industries as art, automotive, beauty, collaboration/e-learning, CRM/call center, digital media, entertainment/marketing, fashion & apparel, healthcare, internet/e-business, manufacturing and processing, pharmaceutical, power sports, science, telecommunications and travel/hospitality. The Company has 1,500 employees and currently operates from multiple offices in North America, Latin America, Europe and Asia. For more information, visit www.advanstar.com.
About MAGIC International
MAGIC International, a subsidiary of Advanstar Communications, is the world`s largest and most widely recognized organizer of trade shows for the apparel industry producing the MAGIC Marketplace in Las Vegas featuring MAGIC, WWDMAGIC, MAGIC kids and the edge. On the East Coast, MAGIC International produces Femme, the International Kids Fashion Show, the International Fashion Fabric Exhibition, and I-TexStyle in New York City. For more information on MAGIC International, visit www.MAGIConline.com.
About QRS
QRS Corporation is the leading expert in global sourcing and supply chain management solutions for the retail industry. For 13 years QRS has helped its 4,000 customers increase revenue, decrease costs and reduce product cycle times. QRS` Tradeweaveä Retail Network -- an integrated suite of business intelligence, service and technology platforms -- enables secure and profitable relationships among retailers, manufacturers and their trading partners. Dedicated solely to the retail industry, QRS has enabled more than 100,000 partnerships giving retailers and manufacturers a better way to plan, source, buy and sell, finance, track, price, merchandise and replenish products. Today, QRS is helping its customers improve their return on sales up to 5 percentage points. For more information, visit www.qrs.com.
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Cautionary Language
Statements contained in this press release that are not historical facts are forward-looking statements subject to risks and uncertainties as discussed more fully in QRS Corporation`s filings with the SEC, including its most recent Form 10-K and Form 10-Q.
QRS is a registered trademark and Tradeweave is a trademark of QRS Corporation. All other trademarks belong to their respective owners.
© 2001 QRS Corporation. All Rights Reserved.
CONTACT:
Maureen Collins
QRS
978-283-9505
mcollins@qrs.com
Nicolette Pizzitola
Stanton Crenshaw Communications
646-336-6414
917-880-7147
MAGIC International
Michelle Mitchell
Advanstar Communications Inc.
440-891-2766
mmitchell@advanstar.com
Cindy Adams
MAGIC International
818-593-500 ext. 4402
cadams@magiconline.com
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