PRESS RELEASE: FAST Casualwear: Successful conclusion of OEM contract
Category: Word Press
DGAP-News: FAST Casualwear AG / Key word(s): Contract FAST Casualwear: Successful conclusion of OEM contract
16.01.2014 / 08:28
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FAST Casualwear: Successful conclusion of OEM contract
Hamburg, January 16, 2014 - FAST Casualwear successfully concluded the contract as Original Equipment Manufacturer (OEM) with a renowned European retail group. FAST had announced the planned signing of the contract in October 2013. The contract with a term of two years makes FAST one of the retail group's main OEM suppliers for shoes.
According to the first OEM order in January 2014, FAST will deliver a total of 500,000 pairs of casual children's shoes under a famous brand. The order has a value of about 4 million Euros and is expected to be ready for shipment during the second quarter 2014.
'We are really looking forward to a good cooperation with our new business partner. Since consumers in Europe have an exceptionally high standard of quality and longevity for products, we also see this cooperation as proof for our continuous efforts to deliver high quality products to the market', says Wing Chi Chong, CEO of FAST Casualwear AG.
In the future FAST will expand its cooperation with large retail chain customers in Europe in order to strengthen its presence in this attractive market. The company is especially interested in concluding long-term standing orders tailored to the production capacity of FAST Casualwear.
Besides its successful development in the OEM business outside the domestic market, FAST Casualwear will continue to focus on the further development of its own brand FAST in the Chinese market. 'Our company-own brand FAST will remain our main revenue driver in China in the future. At the same time we will enhance the efficiency of our international distribution by working with strong partners abroad', states Wing Chi Chong.
About FAST Casualwear AG
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PRESS RELEASE: FAST Casualwear: Successful conclusion of OEM contract
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