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Lowe's, World's second largest home improvement retailer, offers exclusive export opportunities to quality mainland China suppliers

2008-09-10 12:02 1177

Global Sources' Custom Private Sourcing Event helps Lowe's buyers source tools, rough plumbing and rough electrical, and outdoor power equipment

HONG KONG, Sept. 10 /Xinhua-PRNewswire-FirstCall/ -- Lowe's, the second-largest home improvement retailer in the world, with annual sales of over US$48 billion, met pre-screened mainland China suppliers at Global Sources' (Nasdaq: GSOL) Custom Private Sourcing Event ( http://www.PrivateSourcingEvents.com ) in Shanghai on Sept. 3, 2008.

(Logo: http://www.prnasia.com/sa/200708071747.jpg )

Global Sources' Chairman and CEO, Merle A. Hinrichs, said: "In today's market, it's critical for buyers to get it 100 percent right with every product sourced, as consumers seek the best value for their money. Despite rising export prices, mainland China suppliers who can deliver quality products continue to grow their sales.

"As more mainland China suppliers move upmarket, Private Sourcing Events offer a fast track opportunity to meet directly with top overseas buyers seeking high quality, high value products. These events provide the range of quality-focused suppliers that buyers need to ensure they source the best products available at the best price.

"As a result, more of our buyers are participating in our regular Private Sourcing Events. For several of these companies such as Lowe's, Staples and Samsung to name a few, we organize custom events exclusively for their buyers."

LG Sourcing, a wholly-owned subsidiary of Lowe's Companies, is responsible for Lowe's overseas sourcing. LG Sourcing's Managing Office Director of its Shanghai office, Victor Pan, said: "In the home improvement industry, quality is key. In addition to meeting industry certification requirements, suppliers we work with need to meet our company standards.

"We have more than 1,500 stores in North America -- so not only is quality a key factor we require of our suppliers -- but also reliability and flexibility. Because of the pre-screening process that takes place beforehand, these Private Sourcing Events help enable us to more quickly find the suppliers with the right qualifications. This saves us a tremendous amount of time and effort."

At the Shanghai Custom Private Sourcing Event, Lowe's buyers met with suppliers to source tools, rough plumbing and rough electrical, and outdoor power equipment.

World's top buyers scheduled to attend upcoming Private Sourcing Events

Eighty Global Sources Private Sourcing Events are scheduled for 2008, with dozens of buyers including Best Buy, Carrefour, Circuit City and Decathalon confirmed to participate. All Private Sourcing Events are complimentary for buyers and only Global Sources suppliers are eligible to participate. A list of upcoming Private Sourcing Events is available at http://www.PrivateSourcingEvents.com .

Suppliers wishing to participate may contact csm@globalsources.com .

Specialized Global Sources websites, face-to-face events and trade magazines

Private Sourcing Events are part of the company's portfolio of brands for sourcing and product information services, which include Global Sources Online ( http://www.globalsources.com ), China Sourcing Fairs ( http://www.chinasourcingfair.com ), Global Sources monthly magazines and Global Sources Direct ( http://www.GlobalSourcesDirect.com ).

For more information about Global Sources' products and services to connect quality buyers and quality suppliers, visit http://corporate.globalsources.com .

About Global Sources

Global Sources is a leading business-to-business media company and a primary facilitator of 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 business segments facilitate trade from the world to Greater China, and trade within 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 725,000 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 over 230 countries.

The company offers the most extensive range of media and export marketing services in the industries it serves. It delivers information on 4.3 million products and more than 196,000 suppliers annually through 14 online marketplaces, 13 monthly magazines, over 100 sourcing research reports and 9 specialized trade shows which run 27 times a year across eight cities.

Suppliers receive more than 36 million sales leads annually from buyers through Global Sources Online ( http://www.globalsources.com ) alone.

Global Sources has been facilitating global trade for 37 years. Global Sources' network covers more than 69 cities worldwide. In mainland China, Global Sources has over 2,800 team members in more than 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 Press Contact in U.S.:

James W.W. Strachan

Tel: +1-480-664-8309

Email: strachan@globalsources.com

Global Sources Investor Contact in Asia:

Investor Relations Department

Tel: +852-2555-4777

Email: investor@globalsources.com

Global Sources Investor Contact in U.S.:

Kirsten Chapman

Lippert/Heilshorn & Associates, Inc.

Tel: +1-415-433-3777

Email: investor@globalsources.com

Source: Global Sources
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