HONG KONG, Jan. 30 /Xinhua-PRNewswire-FirstCall/ -- Global Sources
(Nasdaq: GSOL) has scheduled 50 Private Sourcing Events in cities across China this year. The events enable pre-screened Chinese suppliers to meet privately with the world's largest buyers to discuss new sourcing opportunities.
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Global Sources Chairman and CEO, Merle A. Hinrichs, said: "Private Sourcing Events are already immensely successful. Last year, buyers representing US$700 billion in annual sales met face-to-face with China suppliers through these events. This year, we're expanding the program to include more events, more top buyers and more cities across China.
"This unique sourcing platform allows China's suppliers to meet the kind of buyers who can help them move up the value chain, relieving pressure from rising raw materials costs and a revalued yuan."
"Last week's event in Shenzhen was a new highpoint for us. Buyers at that single event had combined annual sales worth US$200 billion. That's equivalent to 20 percent of China's total exports last year. We will bring even more value as we take this program across the nation in the coming months."
Buyers with Over US$200 Billion in Sales Meet Suppliers at Largest-Ever Private Sourcing Event
Nine buyers met 30 Chinese toy suppliers at Global Sources' largest-ever Private Sourcing Event in Shenzhen on Jan. 25.
Target Australia's Head of General Merchandise, Mitch Geall, said: "The pre-screening of prospective vendors based on their company and factory profiles meant the discussions we had were extremely productive. Normally, it could take many meetings to find suppliers that met our requirements as precisely."
Retailers participating in the Private Sourcing Event included:
* Carrefour -- the second largest retailer in the world
* KarstadtQuelle -- Europe's largest department store and mail order
group
* Kmart (Australia) -- one of Australia's largest discount chains
* RadioShack -- one of the largest electronics chains in the United
States
* Sears -- the third largest retailer in the United States
* Staples -- the world's leading supplier of office products
* Target (Australia) -- one of Australia's largest retailers
Buyers from Kesa Electricals and ThreeSixty Sourcing also participated.
"Top buyers aren't just looking for one-time orders. They want long-term partners," said one participating supplier, Lawrence Shing, Director of Carpenters Manufactory Ltd. "If we can work with the buyers we met today, it's a chance to take our company to the next level."
World's Top Buyers Scheduled to Attend Upcoming Private Sourcing Events
Some of the world's top buyers including Foxconn, NEC, RadioShack, Sears, Staples and Tchibo are scheduled to attend upcoming Private Sourcing Events. The next four events are:
* Mobile Phones and Accessories -- Jan. 31
* Digital Media Players and Accessories -- March 12
* Auto Security Products & Accessories -- March 15
* Sportswear, Sports Footwear & Backpacks -- March 27
Suppliers wishing to participate should contact csm@globalsources.com .
Suppliers participating in Private Sourcing Events are pre-screened based on their applications. Suppliers are then selected by buyers to meet privately at venues pre-arranged by Global Sources.
Private Sourcing Events are part of the company's sourcing and product information services which include Global Sources trade magazines, Global Sources Online ( http://www.globalsources.com ), Global Sources Direct ( http://www.globalsourcesdirect.com ) and the China Sourcing Fairs ( http://www.chinasourcingfair.com ).
For more information, visit http://corporate.globalsources.com .
About Global Sources
Global Sources is a leading business-to-business (B2B) media company and a primary facilitator of two-way trade with Greater China. The core business is facilitating trade from Greater China to the world, using a wide range of English-language media. The other key business segment facilitates trade from the world to Greater China using Chinese-language media.
The company provides sourcing information to volume buyers and integrated marketing services to suppliers. It helps a community of over 544,000 active buyers source more profitably from complex, overseas supply markets. With the goal of providing the most effective ways possible to advertise, market and sell, Global Sources enables suppliers to sell to hard-to-reach buyers in 230 countries.
The company offers the most extensive range of media and export marketing services in the industries it serves. It delivers information on 1.8 million products and more than 130,000 suppliers annually through 11 online marketplaces, 10 monthly magazines, over 100 sourcing research reports and 14 trade shows, including six China Sourcing Fairs. Suppliers receive more than 8 million sales leads annually from buyers through Global Sources Online ( http://www.globalsources.com ) alone.
Global Sources has been facilitating global trade for 35 years. In mainland China it has over 1,500 team members in 44 locations, and a community of over 1 million registered online users and magazine readers for Chinese-language media.
Global Sources Press Contact in Asia:
Camellia So
Tel: +852-2555-5021
Email: cso@globalsources.com
Global Sources Investor Contact in Asia:
Eddie Heng
Tel: +65-6547-2850
Email: eheng@globalsources.com
Global Sources Press Contact in U.S.:
James W.W. Strachan
Tel: +1-602-978-7504
Email: strachan@globalsources.com
Global Sources Investor Contact in U.S.:
Moriah Shilton & Cathy Mattison
Lippert/Heilshorn & Associates, Inc.
Tel: +1-415-433-3777
Email: cmattison@lhai.com
