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 PRAGUE, Czech Republic, Jan. 11 /PRNewswire/ -- Kmart Corporation (NYSE: KM) will be the site of an historic meeting with President Clinton, Czech Republic Prime Minister Vaclav Claus and Czech and American business leaders at its Prague Kmart (Maj) store on Wednesday, Jan. 12.
 Seventy-five invited guests, representing Czech and American firms will attend the meeting at which the president and six panelists will discuss business and economic issues facing the Czech Republic and Central Europe. The event is being organized by the U.S. Embassy in Prague.
 "Kmart is honored to be selected as the site for this historic meeting between political and business leaders of two great countries," said Joseph E. Antonini, Kmart chairman, president and CEO. "The success of our Kmart operation in the Czech Republic represents the immense opportunity of what can happen when two countries work together to share knowledge and resources."
 Prime Minister Claus will offer opening remarks to the audience. Scheduled panelists will include Dr. Richard Salzmann, chairman, Komercni Banka, and chairman of the Prague Stock Exchange; Mr. Ladislav Glogar, general director, Autopal; Ms. Zdena Homolkova, general director, Sanitas; Mr. Ivan Moyhla, general director, Palaba; Mr. Thomas Porter, CPA, managing partner - Czech Republic and deputy CEO, Central and East European Operation, Price Warehouse; and Mr. Sandy Chen, owner and general director, Corum Business Services. The event will be moderated by Mr. Stephen Hienz, director, Institute for East-West studies, European Studies Center.
 Kmart purchased Maj in May 1992 from the State Asset Fund of the Czech Republic. The purchase represented Kmart's initial entry into the European market. Later in 1992, Kmart purchased five additional stores in the Czech Republic and seven in Slovakia.
 Since Kmart purchased the Maj store, local contractors performed massive renovations on the store including the installation of the bright red Kmart logo on the store's exterior. The store's merchandise selection was expanded by 25 percent and Kmart launched an aggressive customer service training program for its employees.
 Since Kmart began its operation in the Czech Republic, it has worked to develop the capacities of local manufacturers. Kmart purchases 80 percent of its merchandise from Czech distributors including ETA small appliances, Tona tools and Sfnix kitchenware. Kmart also has expanded the reach of several of its Czech suppliers. Sluno, a local software company was selected to supply Kmart's accounting management information system in the Czech Republic as well as Slovakia. Jablonex, a Christmas tree ornament manufacturer in the Czech Republic, supplies Kmart with ornaments for its Czech stores as well as its 2,400 stores in the United States and Canada.
 Kmart also seeks out business opportunities for its American partners and manufacturers. Little Caesars, which has operations in 500 U.S. Kmart stores, recently opened restaurants in Kmart stores in Prague and Brno, and is now looking for local franchise opportunities. Kmart stores in the Czech Republic also sell a variety of well-known U.S. brands including Dirt Devil, Colgate and Stanley Tools. The total assortment imported from the United States totals 20 percent of Kmart's selection.
 Kmart operates nearly 4,000 retail outlets in all 50 states in the United States, and Puerto Rico, Canada, the Czech Republic and Slovakia. In 1994, Kmart joint ventures will open stores in Mexico and Singapore. Kmart, currently operating 2,453 Kmart stores, is also the parent company for Builders Square, Waldenbooks, The Sports Authority, OfficeMax and Borders.
 -0- 1/11/94
 /CONTACT: Shawn Kahle of Kmart, 313-643-1021/

CO: Kmart Corporation ST: Michigan, District of Columbia IN: REA SU:

SB-KT -- DE030 -- 1176 01/11/94 17:49 EST
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Publication:PR Newswire
Date:Jan 11, 1994

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