Global Sources to Launch Garments & Textiles Magazine and Website
HONG KONG, Feb. 28 /Xinhua-PRNewswire-FirstCall/ -- Global Sources Ltd.
(Nasdaq: GSOL) will launch Global Sources Garments & Textiles Online in April
and Garments & Textiles magazine in June. These media will help international
buyers trade more effectively with apparel manufacturers in China, India and
other supply markets.
According to a study conducted by McKinsey, as a result of the Jan. 1,
2005 lifting of garment and textile quotas, China's garment exports will reach
US$124 billion annually by 2008.
China is expected to become the largest supplier of garments and textiles
to the United States and the EU, accounting for about one half of world
garment production. Most experts expect that India will become the
second-largest supplier.
Global Sources chairman and chief executive officer, Merle A. Hinrichs,
said: ''The removal of quotas is one of the biggest developments ever in this
sector. While it has introduced a great deal of uncertainty for buyers and
suppliers, it has also opened up tremendous growth opportunities --
particularly for manufacturers in China and India.
''Garments & Textiles will serve a vital role in this dynamic sector by
helping trading partners reduce uncertainty and maximize trade
opportunities.''
New magazine, website backed by 20 years' expertise
Garments & Textiles publisher, Craig Pepples, said: ''Global Sources has
been serving the fashion, garment and textile sectors for more than 20 years
through Asian Sources Fashion Accessories & Supplies magazine. However,
developments in the industry demand a highly specialized approach to
supporting these sectors.
''With the launch of Garments & Textiles magazine and website, Global
Sources is committed to giving buyers the most reliable, up-to-date supplier
and product information available -- in print and online.
''We anticipate the magazine and its companion website will quickly be
viewed as the leading, most authoritative resources for buyers in the
industry.''
Pepples continued: ''Our team has 34 years' experience identifying
qualified suppliers and reporting on their capabilities. We conduct on-site
factory visits and face-to-face interviews with leading and up-and-coming
garment and textile suppliers throughout China and Asia.''
Global Sources is the only company that publishes in-depth Market
Intelligence Reports on the apparel sector. Two recent Market Intelligence
Reports are T-shirts & Polo Shirts - China and Women's Garments -- India.
These reports focus on high-demand products and examine supplier
capability and analyses of industry pricing, production capacity, research and
development spending, and manufacturing processes. Please visit
http://www.globalsources.com/mir for a complete list of Market Intelligence
Reports.
Pepples concluded: ''We believe the market conditions, combined with our
extensive Asia-wide infrastructure and domain expertise, will make Garments &
Textiles magazine and website essential tools for our community of buyers and
suppliers.''
Global Sources to Report Fourth Quarter and Year-End Results on March 1
Investors may listen to Global Sources' Fourth Quarter and Year-end
Results Call to learn more about the company. Global Sources will conduct its
Fourth Quarter and Year-end Results Call at 9:00 a.m. ET on March 1, 2005
(10:00 p.m. on March 1 in Hong Kong). Investors in the United States may
participate in the call by dialing (800) 219-6110, and international
participants may dial (1-303) 262-2138. For investors in Hong Kong, a local
dial-in number, (852) 3009-3050, has also been established. A live webcast of
the conference call will be available on Global Sources' corporate website at
http://www.investor.globalsources.com .
For those who cannot listen to the live broadcast, a replay of the call
will be available on the company's corporate website for at least 30 days.
There will also be a telephone replay of the call available through March 4.
To listen to the telephone replay, dial (800) 405-2236, or dial (1-303)
590-3000 outside the United States, and enter pass code 11023146#. For those
in the Hong Kong area, the replay dial-in number is (852) 2287-4304, and enter
pass code 365110.
About Global Sources
Global Sources is a leading business-to-business (B2B) media company that
facilitates global trade, with a particular focus on the China market, by
providing information to international buyers and integrated marketing
services to suppliers.
We deliver content to our communities through our leading network of nine
vertical marketplaces and 13 geographic portals, and through magazines,
CD-ROMs and private catalogs, as well as China Sourcing Fairs and technical
events. Our flagship marketplace, Global Sources Online
(http://www.globalsources.com), hosts more marketing and sourcing activity than any
other global merchandise trade marketplace.
We serve a growing, independently certified community of more than 423,000
active buyers in over 230 countries and territories. These buyers generate
more than 4 million inquiries annually for more than 130,000 suppliers through
Global Sources Online alone. We offer extensive creative services and export
consultation through 150 client service officers in Greater China and other
leading supply markets, and through more than 800 sales representatives who
make approximately 40,000 supplier visits monthly. In mainland China, we have
23 years on-the-ground presence, supported by more than 1,100 team members in
44 locations throughout the country.
Global Sources' solutions are based on 34 years as a trade magazine
publisher serving the global trade community, 14 years as a trade management
software developer, 13 years as manager of trade shows in Asia, and nine years
as an online marketplace operator.
This news release contains forward-looking statements within the meaning
of Section 27-A of the Securities Act of 1933, as amended and Section 21-E of
the Securities Exchange Act of 1934, as amended. The company's actual results
could differ materially from those set forth in the forward-looking statements
as a result of the risks associated with the company's business, changes in
general economic conditions, and changes in the assumptions used in making
such forward-looking statements.
CONTACT:
Global Sources Investor Contacts:
Kirsten Chapman & Moriah Shilton,
Lippert/Heilshorn & Associates, Inc.
Tel: +1-415-433-3777
Fax: +1-415-433-5577
Email: kirsten@lhai-sf.com
Global Sources contact in Asia:
Camellia So
Tel: +852-2555-5023
Fax: +852-2518-8764
Email: cso@globalsources.com
Global Sources contact in U.S.:
James W.W. Strachan
Tel: +1-602-978-7504
Fax: +1-602-978-7512
Email: strachan@globalsources.com
