Westpoint Stevens (NASDAQ:WSPT)
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WestPoint Stevens Looks to New Shanghai Office as Key to
Enhancing Asian Sourcing Operations
WEST POINT, Ga., Sept. 2 /PRNewswire-FirstCall/ -- WestPoint Stevens Inc.
(OTC:WSPT) (BULLETIN BOARD: WSPT) ( http://www.westpointstevens.com/ )
announced today that the Company moved into its new Shanghai office on August
30.
William T. Walker, Managing Director and President - Asian Operations, said,
"Having a daily presence in Shanghai is vital to the Company in key ways: It
will enhance our already strong position in Asian sourcing, enable us to build
closer relationships with our current sourcing partners and expand our reach by
giving us access to an even broader Asian supply base in multiple product
categories."
The WestPoint presence in Shanghai will also spur the Company's continued drive
to improve global product development, quality assurance and logistics, Mr.
Walker pointed out. "As Asia - particularly China - continues to grow as a
global supplier and in domestic consumption, our team in Shanghai will be
focused the continuing upgrade of product and service support to our
customers."
When the decision to open the office was announced in April, WestPoint
President and CEO M.L. (Chip) Fontenot noted that, "We have spent the last
several years building our direct offshore sourcing operations. We have now
reached a point of critical mass, currently running at over $400 million of our
revenues, such that a direct presence overseas is warranted. We have chosen
China initially because of its strategic importance in the globalization of the
home fashions industry."
The Shanghai office, located in the WestGate Mall Building at 1038 Nanjing West
Road, opened with six associates. That number is expected to increase to 12 by
year-end. Shanghai native Mingzi Ye recently joined the Company as Sourcing
Coordinator to help facilitate the office opening. Ms. Ye earned a BA in
English with a minor in Marketing and Business from Shanghai Teachers'
University and an MS in Science from Clemson (SC) University.
WestPoint Stevens Inc. is the nation's premier home fashions consumer products
marketing company, with a wide range of bed linens, towels, blankets,
comforters and accessories marketed under the well-known brand names GRAND
PATRICIAN, PATRICIAN, MARTEX, ATELIER MARTEX, BABY MARTEX, UTICA, STEVENS, LADY
PEPPERELL, SEDUCTION, VELLUX and CHATHAM - all registered trademarks owned by
WestPoint Stevens Inc. and its subsidiaries - and under licensed brands
including RALPH LAUREN HOME, DISNEY HOME and GLYNDA TURLEY. WestPoint Stevens
can be found on the World Wide Web at http://www.westpointstevens.com/ .
Contact: Lorraine D. Miller, CFA
Senior Vice President Finance and External Communications
404.378.0491
DATASOURCE: WestPoint Stevens
CONTACT: Lorraine D. Miller, CFA, Senior Vice President Finance and
External Communications of WestPoint Stevens, +1-404-378-0491
Web site: http://www.westpointstevens.com/