CROSSMARK Expands Global Operations With Plans To Acquire Hong Kong Merchandising Agency.
PLANO, Texas--(BUSINESS WIRE)--May 30, 2002
CROSSMARK(R) continues to expand its global operations, having reached an agreement to acquire the leading merchandising agency in Hong Kong, announced Butch Smith, Chairman & CEO of CROSSMARK.
Flex Merchandising Resources Ltd. (Flex Merchandising), a rapidly growing retail merchandising services agency in Hong Kong, was built by Leslie Tam, and is the leading provider of retail services for manufacturers and retailers in the fast-moving consumer goods industry. Ms. Tam is expected to lead the CROSSMARK Hong Kong team and serve as Managing Director. The agreement between CROSSMARK and Flex Merchandising is subject to customary conditions.
"We are very excited about the opportunity to have Leslie Tam and her agency join the CROSSMARK family. Her expertise, contacts and reputation throughout the Asian marketplace should aid CROSSMARK in becoming Asia's premier business services firm," Smith said.
In addition to the Hong Kong acquisition described above, CROSSMARK announced earlier this week additional mergers and acquisitions in Australia and New Zealand. CROSSMARK also announced the formation of CROSSMARK United Kingdom, which opens operations June 1, 2002.
Bob Hawk, President of CROSSMARK Global, said each of the new countries is positioned strategically to open additional markets throughout Asia and Europe. "Hong Kong provides tremendous growth opportunities for our global operations and serves as a springboard for entry into other Asian markets. CROSSMARK Hong Kong, combined with CROSSMARK Australia and CROSSMARK New Zealand, enables us to provide our client partners with consistent sales and branding strategies throughout the Pacific Rim."
Leslie Tam, founder and Managing Director of Flex Merchandising, said "CROSSMARK will bring proprietary technologies and intellectual capital to the Hong Kong market. This allows us to expand our service levels and drive high-value solutions to brand owners and retailers. We are very excited about the opportunity."
CROSSMARK expects to open offices in Singapore, Taiwan and Thailand within the next 12 months.
CROSSMARK is a professional business services company providing integrated, performance-based solutions in sales, marketing, technology and consulting. With its headquarters in Plano, Texas, CROSSMARK employs more than 10,000 associates in the United States, Canada, the United Kingdom, China, India, Australia and New Zealand. For more information on CROSSMARK, please visit www.crossmark.com.
About Flex Merchandising Resources Ltd.
In two years Flex Merchandising has attracted more than 280 brands to represent in 1,200 Hong Kong retail chain stores. Its services include shelf merchandising, compliance tracking, in-store packaging uplifting and market intelligence monitoring. The firm was founded by Leslie Tam, Managing Director, who has more than 25 years experience in the fast-moving consumer goods industry in Hong Kong and other Asian markets. For more information, please visit www.flexmerch.com.
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|Date:||May 30, 2002|
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