FOR IMMEDIATE RELEASE
Ptex Solutions Acquires Rights to Distribute Freeborders Software
India, Bangladesh, Sri Lanka and Mauritius
Partnership to Enable
Apparel and Textile Companies in the Region to Improve Cycle
Times, Competitiveness and Profitability
SAN FRANCISCO, CA, September XX, 2004 – Freeborders Inc., the worldwide leader in Product Lifecycle Management (PLM) solutions for retailers and brands, today announced that Ptex Solutions, has recently acquired the rights to distribute Freeborders’ PLM solutions in India, Bangladesh, Sri Lanka and Mauritius.
Led by Prasham Kamdar with seven years experience within the PLM retail sector for fashion, apparel and textiles software industry, Ptex Solutions offers premier software and services and apparel AMD trend forecasting.
“Joining the Freeborders team, who have great vision, valuable domain knowledge and above all excellent products, will enable Ptex Solutions to take full advantage of the growing PLM sector and will provide Indian companies with fully customizable solutions for their increasingly growing product development needs,” said Prasham Kamdar [ADD TITLE].
Leading American and European brands and their suppliers are increasingly adopting PLM applications to effectively manage the growing complexity of supply chains. Freeborders’ PLM integrated “design-to-delivery” solutions significantly increase organizational efficiency and profitability. Currently over 350 customers, including Gap, Liz Claiborne, Sara Lee Courtaulds, Levi Strauss, Target and Saks are using Freeborders software and services.
Together with Freeborders, Ptex Solutions is confident that retailers, manufacturers, buying agents and mills in the Indian subcontinent will benefit from Freeborders’ PLM Suite by reducing cycle time, materials development time, and approval costs as they increase control over the product development process. This technology will give apparel-related companies tremendous competitive advantage once quota restrictions are lifted in 2005.
Suppliers of Freeborders’ customers such as Gap, Liz Claiborne and Target have sourcing offices in the subcontinent region. Ptex Solutions will offer complete services from scope, design, training, implementation, support and software sales to ensure that retailers, brands and their suppliers will be seamlessly connected with each other.
“Southeast Asia, India and the surrounding region has been critically important to the world’s largest retail brands for sourcing textiles,” said Mark Harrop, partner global accounts, Freeborders. “We are excited that Ptex Solutions will extend the ability of companies in the region to improve their cycle times and enhance their profitability and competitiveness.”
Freeborders (www.freeborders.com) provides Product Lifecycle Management (PLM) software and services to leading retailers and their suppliers, enabling brands to more effectively manage the increasing complexity of their supply chains. Freeborders solutions help drive profitable revenue growth, speed products to market, improve inventory management, and maintain control, consistency and quality.
Freeborders software and services are used by over 350 brands and retailers globally, including Dillard's, DuPont, Gap, INVISTA, J. Crew, L.L. Bean, Lands’ End, Liz Claiborne, Marc Jacobs, Saks, Target and Williams-Sonoma. Freeborders is headquartered in San Francisco, with offices throughout North America, Europe and Asia. Freeborders’ shareholders include Internet Capital Group [NASDAQ:ICGE], IBM, TAL Apparel Ltd., and Fountain Set.