USA: Factory 2-U Stores Inc. and C-ME.com Announce Joint Marketing and Cooperation Agreement
Factory 2-U Stores Inc. (Nasdaq:FTUS) and Cyber Merchants Exchange Inc. d.b.a C-ME.com (OTCBB:CMEE) today announced a joint marketing and cooperation agreement whereby current and future vendors of Factory 2-U will be encouraged to utilize C-ME.com's Internet Sourcing Network ("ISN"). Terms of the agreement were not disclosed. C-ME.com, a business-to-business e-commerce solution provider, facilitates global merchandise sourcing for retailers. Its ISN connects retailers -- like Factory 2-U -- with their vendors, streamlining global merchandise sourcing to make supply chains more efficient. C-ME.com's ISN consists of secure private extranets that the company builds and maintains at no cost to retailers. Using the ISN, vendors are able to directly communicate product offerings to Factory 2-U buyers and receive immediate feedback. Mike Searles, chairman and chief executive officer of Factory 2-U, commented: "We are constantly trying to improve how we source product and believe utilizing C-ME.com supports this goal. Our partnership with C-ME.com will improve communication with our suppliers and will be instrumental in opening up international sourcing options for us, as well." "We are pleased that our relationship with Factory 2-U is expanding," said Frank Yuan, chairman and CEO of Cyber Merchants Exchange Inc. "This amendment to our existing agreement and the associated equity interest that Factory 2-U now has in C-ME.com," continued Yuan, "validate the value the ISN has for retailers and strengthen our ability to serve Factory 2-U's buying team and suppliers." The mission of Cyber Merchants Exchange Inc. d.b.a. C-ME.com (
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