FAST RETAILING GOES LIVE WITH RETEK IN CHINA
Rapid Implementation Supports Fast Retailing`s Expanding Chinese Operations
MINNEAPOLIS - Oct. 29, 2002 * Retek Inc. (Nasdaq: RETK) announced today that
Fast Retailing Co., Ltd., "Fast Retailing," (Tokyo Stock Exchange: 9983 on
the first section) has implemented Retek merchandising solutions to support
its expanding operations in China. Fast Retailing, one of Japan`s largest
retailers, opened its first two stores in China on Sept. 30. Retek solutions
have been chosen to form the backbone of Fast Retailing`s global retail
information technology (IT) infrastructure, and will serve as the platform
for Fast Retailing`s Japan operations as well as all new countries of entry.
The rapid implementation for Fast Retailing`s China operations was executed
in just nine months by NS Solutions Corporation, one of Japan`s leading
system integrators. This implementation of a Retek merchandising solution is
the first of its kind for a Japanese retailer.
"The China market is a great opportunity and very important to Fast
Retailing," said Nobuo Domae, chief information officer with Fast Retailing.
"Retek solutions provide a strong, scalable IT foundation for Fast
Retailing`s expansion. NS Solutions provide rapid implementation of packaged
solutions and solid project management skills. We are pleased to partner
with Retek and NS Solutions Corporation. To have gone from a blank sheet to
a completed project in just nine months is very impressive. We are thankful
to all the parties involved."
Retek`s merchandising solution provides retailers with strong, scalable
technology, giving retailers a single version of the truth to power
coordinated operations. Armed with Retek`s scalable solutions, retailers are
better able to provide consumers with the right product, at the right place
and time, in the right quantities and for the right price.
"We are very proud to have worked with Retek`s retail packaged solutions in
supporting Fast Retailing`s China ambitions," said Koichi Kitamura, general
manager of the retail division for NS Solutions Corporation. "We are also
very excited to be partnering with Retek in bringing their global solutions
to the Japanese and Asian markets."
For the fast moving world of fashion retail, Retek solutions deliver
significant value by helping retailers manage rapidly changing consumer
demand. Retek merchandising solutions are also being implemented within Fast
Retailing`s main corporate line of business in Japan.
"Fast Retailing is widely considered to be one of Japan`s leading
retail organizations," said Ian Johnston, president of Retek Asia-Pacific.
"We are proud to have worked along with NS Solutions Corporation in
delivering on our promises with the rapid go-live of Fast Retailing China."
About Fast Retailing Co., Ltd.
Established in 1984, Fast Retailing`s UNIQLO brand has become one of Japan`s
hottest outfitters by providing clothes that inspire people of all ages,
nationalities and walks of life to dress casual. Fast Retailing does this by
offering fashionable, high-quality items at the most reasonable prices
possible-clothes that suit active modern lifestyles and enable wearers to
express their own personal styles. To accomplish this, the Company manages
all facets of its operations, including product planning, development and
design, procurement of raw materials, production, distribution and sales,
allowing it to minimize costs and ensure high quality. Fast Retailing
continues to seek innovative ways to ensure UNIQLO`s future as Japan`s
best-loved casual brand.
About NS Solution Corporation
NS Solutions Corporation is a leading Japanese system integrator with
revenues of US $1.2 billion in fiscal 2001 and more than 3,000
professionals. NS Solutions` strength is its capability of providing a wide
range of services, from enterprise solutions to networking, security, and
database applications, for various vertical segments such as retailing,
manufacturing, financial, and governmental. NS Solutions offers convenient
one stop shopping solutions for system consulting, planning, development,
maintenance and operations to many leading edge enterprises.
About Retek Inc.
Retek Inc. (Nasdaq:RETK) is the leading provider of mission-critical
software and services to the retail industry. Retek 10 integrates
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.
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