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EBAY INC (EBAY)

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eBay Inc : Karmaloop Selects GSI Commerce for Fulfillment, Freight and Warehouse Management Capabilities

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05/10/2012 | 03:05pm CEST

Partnership Expands Fulfillment Capabilities for Leading Global Urban Fashion Provider

GSI Commerce, a leading provider of ecommerce and interactive solutions, today announced that it has been selected by Karmaloop to handle fulfillment, freight and warehouse management under a multiyear contract. Karmaloop is the global leader and largest online reseller of name brand underground street wear and fashion products. GSI will support Karmaloop from its fulfillment facility in Shepherdsville, Kentucky.

"As our business continues to grow at record pace, we realized it was critical to enlist a company who could effectively manage our expanding fulfillment needs and maintain our brand. GSI was the obvious choice," said Greg Selkoe, CEO of Karmaloop. "We have aggressive plans to accelerate our growth, and we are confident that this relationship will enable us to successfully manage this growth while delivering a consistently great experience to our customers."

GSI Commerce's world-class fulfillment services and dedication to fast and quality service will better facilitate the distribution of Karmaloop's brands and provide a positive consumer experience. Karmaloop consists of over 500 brands for men and women and reaches customers in more than 80 countries. GSI will manage fulfillment for its Karmaloop.com, PLNDR.com a private flash sale site, Boylston Trading Co. which offers exclusive street fashion, and Karmaloop's newest online shop for skaters, BrickHarbor.com.

"We are excited that Karmaloop, one of the fastest growing companies in the IR 500 has chosen GSI as a strategic partner for the company's fulfillment, freight and warehousing needs," said Tobias Hartmann, CEO of Global Operations for GSI. "We are looking forward to collaborating with them to help them expand and grow even more quickly."

About Karmaloop

Karmaloop is one of the world's largest and most-respected online retailers of "streetwear" (including footwear, apparel and accessories). The company was founded by Greg Selkoe in 2000 and is headquartered in Boston, MA, with an office and TV studio in New York City and a Karmaloop Europe homebase in Denmark. Karmaloop.com sells over 500 men's and women's brands to a loyal customer base spanning 80 countries, with Karmaloop online platforms attracting more than 4.5 million unique monthly visitors. Karmaloop, Inc. owns and operates Karmaloop.com, KarmaloopTV.com, PLNDR.com, BoylstonTradingCo.com, BrickHarbor.com, StreetAmmo.dk (soon to be Karmaloop Europe) and Kazbah Underground Brands, and owns 11 private label clothing brands.

About GSI Commerce

GSI Commerce® enables ecommerce, multichannel retailing and digital marketing for global enterprises in the U.S. and internationally. GSI's ecommerce services, which include technology, order management, payment processing, fulfillment and customer care, are available on a modular basis or as part of an integrated solution. GSI's marketing services are comprised of innovative digital marketing products and services which include database management and segmentation, marketing distribution channels, a global digital agency to drive strategic and creative direction and an advanced advertising analytics and attribution management platform. GSI is headquartered in King of Prussia, Pa. and its international headquarters is located in Barcelona, Spain. More information can be found at gsicommerce.com. GSI is an eBay Inc. (Nasdaq: EBAY) company.

GSI Commerce
Kelly Henry, 610-491-7474
Director, Corporate Communications
Fax: 610.265.2866
Twitter: @GSICommerce
news@gsicommerce.com


© Business Wire 2012
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Financials ($)
Sales 2016 8 945 M
EBIT 2016 2 792 M
Net income 2016 1 872 M
Finance 2016 2 554 M
Yield 2016 -
P/E ratio 2016 19,77
P/E ratio 2017 17,28
EV / Sales 2016 3,71x
EV / Sales 2017 3,53x
Capitalization 35 756 M
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Number of Analysts 41
Average target price 31,3 $
Spread / Average Target -1,1%
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NameTitle
Devin N. Wenig President, Chief Executive Officer & Director
Thomas J. Tierney Non-Executive Chairman
Wendy Jones Vice President-Global Operations
Scott Schenkel Chief Financial Officer & Senior Vice President
Stephen Fisher Chief Technology Officer & Senior Vice President
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