Fasturn, PricewaterhouseCoopers Form Strategic Alliance to Enhance Global Business-to-Business Sourcing Solution for Apparel Industry

Business Wire, July 18, 2000

Business Editors & High-Tech/Apparel Writers

LOS ANGELES--(BUSINESS WIRE)--July 18, 2000

Fasturn Inc. (www.fasturn.com), the next-generation technology and business solution provider for the apparel industry, and PricewaterhouseCoopers, the world's largest professional services organization, today announced a strategic alliance to jointly market a Web-based digital marketplace for the apparel industry.

The Retail Industry Team at PricewaterhouseCoopers will be able to offer the Fasturn solution to PricewaterhouseCoopers' extensive network of retail and apparel clients. Fasturn has named PricewaterhouseCoopers as a preferred implementer of its solutions, building on the professional services organization's proven methodologies and implementation expertise.

PricewaterhouseCoopers is currently engaged in strategic work for Fasturn, including pricing and processing, and helping customize its private and public procurement and supply chain infrastructure for larger customers.

"Working with PricewaterhouseCoopers is another major milestone for Fasturn as we build what is already being touted as a revolutionary approach for bringing the apparel industry together using Web-based technology solutions," said Marilyn Tam, president of Fasturn. "This alliance allows both of our companies to deliver a leading electronic procurement offering for the apparel industry."

As the first business-to-business solution that integrates Web-based sourcing and supply chain management tools into the apparel industry, Fasturn enables a worldwide community of qualified buyers and sellers, key service partners, agents and importers to conduct business seamlessly.

"This agreement represents another leading-edge advantage we can offer our clients in the fast-paced world of e-markets and exchanges," said Steve Schlabs, lead partner, Americas Retail Management Consulting Services practice at PricewaterhouseCoopers. "It also reinforces our leadership position as the pre-eminent provider of e-business solutions."

About PricewaterhouseCoopers

PricewaterhouseCoopers (www.pwcglobal.com) is the world's largest professional services organization. Drawing on the knowledge and skills of more than 150,000 people in 150 countries, the company helps its clients solve complex business problems and measurably enhance their ability to build value, manage risk and improve performance in an Internet-enabled world.

The Management Consulting Services practice of PricewaterhouseCoopers helps companies harness the competitive benefits of e-business by integrating strategic change, performance improvement and technology solutions. Its organization provides a range of industry-specific services designed to provide innovative, reliable and scalable e-solutions to global companies and Internet start-ups.

These services include three key components: strategy, design and infrastructure. To augment its services, PricewaterhouseCoopers is making investments in and forming relationships with companies in four key areas: Web design and development, e-business technology and tools, e-transaction businesses, and e-business/Web strategy. PricewaterhouseCoopers refers to the member firms of the worldwide PricewaterhouseCoopers organization.

About Fasturn

Based in Los Angeles with offices in New York and agents throughout the globe, Fasturn delivers the next generation of sourcing solutions for the apparel industry. Fasturn's proprietary technology enables pre-qualified buyers and sellers to streamline sourcing and production, delivering increased margins and workflow efficiencies.

By aggregating fragmented communities of garment suppliers, agents and buyers, Fasturn can deliver significant cost savings by uncovering new sourcing opportunities, condensing the time for sourcing and real-time tracking of the production and procurement cycle. Fasturn has leveraged its deep apparel knowledge in developing practical solutions to meet demanding apparel sourcing challenges today.

Cautionary Language

This release contains forward-looking statements that involve risks and uncertainties, including the risks associated with the effect of changing economic conditions, trends in the development of the Internet as a commercial medium, market acceptance risks, technological development risks, seasonal and other risk factors.