Petrone Worldwide Enters Into Definitive Agreement With Dewan Sons Forming An International Alliance
GlobeNewswire - Fri Oct 13, 7:00AM CDT
Petrone Worldwide, Inc. (OTC
FWI), has over 20 years of dedicated sales, marketing and product development expertise within the hospitality industry announces today that it has expanded its business with Dewan & Sons by signing a definitive agreement forming a new international strategic alliance. Dewan & Sons India, a leading Houseware articles and government export house of India is now establishing a presence in the Territories of North America, South America, The Caribbean, Mexico and Europe and PFWI, the appointed as the sole exclusive agent will undertake direct sales and JIT distribution to all Dewan customers within in the Territories. "The value-added warehousing and distribution (VAWD), dedicated contract carriage (DCC), domestic transportation management (DTM) and sales and marketing e-commerce portal of PFWI coupled with JIT and lean inventory management will be a significant cost savings along with the potential to serve over one billion potential new customers for Dewan" said Victor Petrone, CEO of PFWI.
Victor Petrone further states, "The service includes Direct Store delivery of Dewans products to retail stores, thereby bypassing a retailer's distribution center to increase inventory turns and reduce margins for Dewan." PFWI will be servicing the following Dewan clients in North America: Walmart, Sam's Club, Home Goods, The Home Depot, Marshall's, Ross Bed Bath & Beyond, TJ Maxx, and Bath & Body Works; however, the e-commerce portal will prove to be significant. This is a huge step forward for PFWI and will substantially increase revenues in the very short term.
"We evaluated many companies to determine the functionality that would best fit our organization. Petrone is the ideal organization based on its ability to augment our current capabilities for over eighteen months and its significant market strength in the logistics, marketing and warehousing segment," said this strategic alliance with Petrone Worldwide creates increased real-time communication with our purchasing agents and creates a new service which is preferable, allowing reduced Minimum Order Quantities (MOQs), so that smaller, more frequent orders can be placed off- setting long-term risks of holding too much inventory" said Surender Gandhi, President of Dewan & Sons to the array of high profile customers that we currently service. We have grown to a point that in order to expand and support the growing needs of our customers, we must partner with an organization such as Petrone Worldwide. We are all very excited and look forward to working with the team." With the addition of these capabilities Petrone Worldwide is able to drive value for its customers through lower costs and faster time-to market.
"The services includes Direct Store delivery of Dewan's products to retail stores, thereby bypassing a retailers' distribution center to increase inventory turns and reduce margins for Dewan. With all the Port delays, planning for safety stock has become all that much more of a key component to reducing fulfillment costs. Supply Chain operation efficiency of Petrone will bring optimum results with minimum budget. This will be a win-win tie up for all parties, "Said Joe Gandhi, Vice President of Dewan & Sons.
About Dewan & Sons:
Dewan & Sons is a manufacturer in India focused on the production of articles of Brassware, Copperware, galvanized & wrought iron, aluminum ware, stainless steel utensils, EPNS and EPSS for luxury brands and mass merchandisers in North America and Europe in the houseware, furnishings marketplace. They offer, lighting, textiles, bath ware, decor, outdoor and garden products. The in-house design team works closely with leading design houses to bring new collections for every season and provide an unmatched combination of inspired design, high quality and unparalleled value.
About Petrone Worldwide, Inc. (OTCFWI):
Petrone Worldwide, Inc. (PFWI) has over twenty years of dedicated sales, marketing and product development expertise within the hospitality industry; selling products into worldwide markets acting as an import/export and master distributor for manufacturers. Today PFWI Portfolio includes Brassware, Copperware, galvanized & wrought iron, aluminum ware, stainless steel utensils, EPNS and EPSS, tableware and hotel guest room and property accessories. For more information, please visit our website at www.petroneworldwide.com.
GlobeNewswire - Fri Oct 13, 7:00AM CDT
Petrone Worldwide, Inc. (OTC
FWI), has over 20 years of dedicated sales, marketing and product development expertise within the hospitality industry announces today that it has expanded its business with Dewan & Sons by signing a definitive agreement forming a new international strategic alliance. Dewan & Sons India, a leading Houseware articles and government export house of India is now establishing a presence in the Territories of North America, South America, The Caribbean, Mexico and Europe and PFWI, the appointed as the sole exclusive agent will undertake direct sales and JIT distribution to all Dewan customers within in the Territories. "The value-added warehousing and distribution (VAWD), dedicated contract carriage (DCC), domestic transportation management (DTM) and sales and marketing e-commerce portal of PFWI coupled with JIT and lean inventory management will be a significant cost savings along with the potential to serve over one billion potential new customers for Dewan" said Victor Petrone, CEO of PFWI. Victor Petrone further states, "The service includes Direct Store delivery of Dewans products to retail stores, thereby bypassing a retailer's distribution center to increase inventory turns and reduce margins for Dewan." PFWI will be servicing the following Dewan clients in North America: Walmart, Sam's Club, Home Goods, The Home Depot, Marshall's, Ross Bed Bath & Beyond, TJ Maxx, and Bath & Body Works; however, the e-commerce portal will prove to be significant. This is a huge step forward for PFWI and will substantially increase revenues in the very short term.
"We evaluated many companies to determine the functionality that would best fit our organization. Petrone is the ideal organization based on its ability to augment our current capabilities for over eighteen months and its significant market strength in the logistics, marketing and warehousing segment," said this strategic alliance with Petrone Worldwide creates increased real-time communication with our purchasing agents and creates a new service which is preferable, allowing reduced Minimum Order Quantities (MOQs), so that smaller, more frequent orders can be placed off- setting long-term risks of holding too much inventory" said Surender Gandhi, President of Dewan & Sons to the array of high profile customers that we currently service. We have grown to a point that in order to expand and support the growing needs of our customers, we must partner with an organization such as Petrone Worldwide. We are all very excited and look forward to working with the team." With the addition of these capabilities Petrone Worldwide is able to drive value for its customers through lower costs and faster time-to market.
"The services includes Direct Store delivery of Dewan's products to retail stores, thereby bypassing a retailers' distribution center to increase inventory turns and reduce margins for Dewan. With all the Port delays, planning for safety stock has become all that much more of a key component to reducing fulfillment costs. Supply Chain operation efficiency of Petrone will bring optimum results with minimum budget. This will be a win-win tie up for all parties, "Said Joe Gandhi, Vice President of Dewan & Sons.
About Dewan & Sons:
Dewan & Sons is a manufacturer in India focused on the production of articles of Brassware, Copperware, galvanized & wrought iron, aluminum ware, stainless steel utensils, EPNS and EPSS for luxury brands and mass merchandisers in North America and Europe in the houseware, furnishings marketplace. They offer, lighting, textiles, bath ware, decor, outdoor and garden products. The in-house design team works closely with leading design houses to bring new collections for every season and provide an unmatched combination of inspired design, high quality and unparalleled value.
About Petrone Worldwide, Inc. (OTC
FWI): Petrone Worldwide, Inc. (PFWI) has over twenty years of dedicated sales, marketing and product development expertise within the hospitality industry; selling products into worldwide markets acting as an import/export and master distributor for manufacturers. Today PFWI Portfolio includes Brassware, Copperware, galvanized & wrought iron, aluminum ware, stainless steel utensils, EPNS and EPSS, tableware and hotel guest room and property accessories. For more information, please visit our website at www.petroneworldwide.com.
Petrone Worldwide Inc. (PFWIQ) Stock Research Links
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