BEIJING, Aug. 13 /PRNewswire-Asia/ -- eFuture Information Technology Inc.
(Nasdaq: EFUT, "eFuture"), a leading provider of software and services in
China's retail and consumer goods industries, today announced that the
Company's Specialty Store Business Unit, one of its six strategic business
units, has signed a five year strategic service agreement with 3.Z.U, a
leading specialty sock retailer for the Chinese and international markets with
200 stores in China. Under the agreement, eFuture will provide 3.Z.U. with
consulting and systems support at its planned 800 new retail store openings
across China over the next 5 years.
This agreement is based on eFuture's growing service offering, consisting
of a one-time set-up fee and recurring service fees charged on a quarterly
basis. Rather than a fixed amount, the service fee will be charged at a
certain percentage of 3.Z.U's revenue with a minimum amount limit. After the
initial set-up process in September, eFuture will be able to offer a total
software solution to help 3.Z.U manage its store and back-office operations,
warehouse systems and loyalty card program. Following implementation,
eFuture's software solutions will help 3.Z.U. to optimize cash flow and
increase the visibility of order flow.
Adam Yan, chairman and CEO of eFuture, said, "We are very happy to
announce this new service agreement with 3.Z.U, a leading specialty retailer
in China. This agreement further strengthens our position as the leading
software and services provider to the retail and consumer goods industries in
China, and we believe our innovative service fee model will allow us to grow
with our clients as they grow bigger. We believe our service strategy
represents a major growth opportunity for eFuture given its low up-front costs
and flexibility, and we are excited to continue leveraging our large installed
base of customers to further develop our service offering."
About 3.Z.U
3.Z.U is a specialty sock retailer that currently operates 200 retail
stores in China. The company was established in 2003 by Haining Naier Socks
Group Co., Ltd ("Naier"), a joint venture specializing in the manufacturing
and distribution of socks. The company primarily produces cotton, silk and
sport socks, and manufactures a wide variety of sock and stocking styles.
Naier has a large distribution network covering 30 provinces and cities
throughout the domestic market in China. Naier exports its products
internationally, primarily to Japan, the USA, Germany, and France, while also
working with leading global consumer brands such as ADIDAS, GAP, and America
Sally.
About eFuture Information Technology Inc.
eFuture Information Technology Inc. (NASDAQ: EFUT) is a leading provider
of software and services in China's rapidly growing retail and consumer goods
industries. eFuture provides integrated software and services to manufacturers,
distributors, wholesalers, logistics companies and retailers in China's
front-end supply chain(from factory to consumer) market, especially in the
retail and fast moving consumer goods industries. eFuture currently serves
over 15 Fortune 500 companies, over 1,000 retailers and over 5,000 suppliers
operating in China. eFuture is one of IBM's premier business partners in Asia
Pacific and is a strategic partner with Oracle, Microsoft, JDA, Motorola and
Samsung Network China. eFuture has more than 600 employees and 20 branch
offices across China. For more information about eFuture, please visit
http://www.e-future.com.cn .
For more information, please contact:
Investor Contact:
Troe Wen, Company Secretary
eFuture Information Technology Inc.
Tel: +86-10-5293-7699
Email: ir@e-future.com.cn
Investor Relations (US):
Mahmoud Siddig
Taylor Rafferty
Tel: +1-212-889-4350
Email: eFuture@Taylor-Rafferty.com
Investor Relations (HK):
Ruby Yim
Taylor Rafferty
Tel: +852-3196-3712
Email: eFuture@Taylor-Rafferty.com
Media Contact:
Jason Marshall
Taylor Rafferty
Tel: +1-212-889-4350
Email: eFuture@Taylor-Rafferty.com
SOURCE eFuture Information Technology Inc.
