MELBOURNE, FL - 12/8/2015 (PRESS RELEASE JET) -- Leading online retailer DutyFreeZone.com (www.dutyfreezone.com) and Synnex Corporation the worlds largest distributor of electronics products, announced a strategic alliance to create the worlds largest e-commerce electronic retailer. Expected to launch today, the new online store www.dutyfreezone.com will combine the strengths of the two existing businesses, bringing consumers the best electronic-buying experience available online.
The two companies have entered into a strategic alliance under which each company will assume responsibility for specific aspects of the electronic supply chain. DutyFreeZone.com, in collaboration with its majority shareholder, Duty Free Zone Ltd, will identify, buy and manage inventory and customer service; Synnex.com will handle order fulfillment, housing both DutyFreeZone.com s and its own inventory in Synnex Corporation's 14 U.S. distribution centers. The agreement also allows for global expansion of the arrangement.
A milestone in online retailing benefiting consumers, the DutyFreeZone.com and Synnex Corporation alliance is designed to maximize operating efficiencies and provide meaningful benefits to consumers. The alliance brings together the highly complementary strengths of two leading brands and premier retailers one in brick-and-mortar wholesaling, the other in e-commerce to create a better shopping experience.
This is a huge win for our customers, said Paul Duncan, DutyFreeZone.com VP of sales. Our existing electronic business has grown rapidly because customers appreciate our passionate focus on selection and customer experience. By joining with Synnex Corporation, were bringing customers an even greater and more diverse product selection and teaming up with the worlds leading resource for electronic items.
DutyFreeZone.com is widely regarded as the gold standard in online retailing, and we are thrilled to deliver to our customers the enormous benefits we know this alliance will bring. The strength of the Synnex know how and our merchandising expertise combined with DutyFreeZones unbeatable internet savvy will create an online presence second to none, said Marlon Ealdama, senior account manager of Synnex Inc. Together, we will be the global leader for electronic products on the internet.
Marlon Ealdama, senior account manager of Synnex added his endorsement, noting, This relationship truly embraces the best of both businesses and will take our business to a totally new level. We look forward to working with DutyFreeZone.com to create the worlds best online electronic store.
SYNNEX Corporation, a Fortune 500 company founded in 1980 by Robert T. Huang based in Fremont, California, is an information technology supply chain services company offering services to original equipment manufacturers, software publishers and reseller customers.
SYNNEX distributes products and related logistics services. As a business process outsourcing and contract assembly it works with industry suppliers of IT systems, peripherals, system components, software and networking equipment. The company is one of the major employers in Greenville, South Carolina.
Founded in 1980 revenues are 12 billions, number of employees 50,000.
DutyFreeZone.com The Largest Shopping Mall On The Planet, The company sells merchandise through its Internet sites at http://www.dutyfreezone.com ® .http://www.dutyfreezone.com.mx ® http://www.dutyfreezone.co.uk ®
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Such statements should be considered as subject to risks and uncertainties that exist in the companys operations and business environment that could render actual outcomes and results materially different than predicted. Factors that could constitute risks are set forth in documents filed by the company with the Securities and Exchange Commission.
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results may vary from these forward-looking statements for a variety of reasons, including, among others, difficulties encountered by DutyFreeZone.com, Synnex.com in implementing their relationship and successfully coordinating their respective operations, the failure of any of the parties to the strategic alliance to perform in accordance with their obligations under their agreements or the expectations of the other parties., DutyFreeZone.coms limited operating history, anticipated losses, significant amount of indebtedness, unpredictability of future revenues, potential fluctuations in quarterly operating results, seasonality, consumer trends, competition, risk of distribution center expansion, risks related to fourth quarter performance, risks of system interruption, management of potential growth, inventory risks.