Press Releases
DFS, The World’s Largest Travel Retailer Partners with TradeBeam
Global Classification Tool Speeds Product Arrival to Store Shelves
San Mateo, CA, May 31, 2005—TradeBeam, the leading provider of Global Trade Management (GTM) software and services, announced today that DFS Group L.P. has chosen its Global Classification tool to automate and standardize the organization of its products worldwide. By leveraging TradeBeam’s constantly updated Harmonized Tariff Schedule (HTS) content from around the world, DFS can ensure that goods are accurately classified in multiple countries well before they are shipped, expediting customs clearance and speeding the product’s ultimate arrival on store shelves.
As the world’s leading retailer for international travelers, DFS operates several hundred stores across the globe, primarily in the Asia/Pacific region and the U.S. The stores offer upscale brands of perfume, jewelry, watches, liquor, leather, clothing and other high-end luxury goods. While famous for its airport locations, the unit of luxury product developer LVMH Moet Hennessy Louis Vuitton also operates more than a dozen Galleria centers in downtown areas and resorts.
Shifting to a centralized, Internet-based system of classifying its products for movement across borders has become a strategic focus for DFS. Any delays or problems during the import process can not only result in unfulfilled demand, but also significant costs that erode the company’s profit margins. The TradeBeam Global Classification tool will integrate with the company’s unique merchandising system to enable DFS to manage all product information requirements from one location and complete more classifications with fewer resources.
“Our goal is to shorten the order-to-cash cycle by increasing the velocity of our global supply chain,” said Ron Forbes, vice president of Merchant Support Services for DFS. “The complexities of international tariffs and duties can make achieving that goal a major challenge. Keeping the supply chain running efficiently requires thorough understanding of the different HTS stipulations imposed for various products around the world. TradeBeam knows this arena better than any other solution provider we have encountered, and we are very pleased to be able to leverage its deep content base in support of our initiative.”
Global HTS content is continually acquired and validated by TradeBeam’s Global Trade Content (GTC) group. The group feeds updates into the Global Classification tool on a continual basis, which is then funneled through the company’s Web-based GTM platform on to the thousands of end users of the product.
“As a frequent international traveler myself, I have been impressed with the DFS brand for quite some time,” said Graham R.F. Napier, president and CEO of TradeBeam. “What has always struck me is the company’s unwavering commitment to excellence that can be seen in both its products and the locations in which it does business. We are very excited to be delivering supply chain excellence that ensures those products arrive at their destinations in the most efficient manner possible.”
About DFS Group L.P.
DFS is the world’s leading duty-free retailer for international travelers seeking high quality, luxury and destination-specific merchandise at great value and in innovative shopping environments. Established in 1961, DFS has been offering branded merchandise to travelers to purchase both for themselves and as gifts to take back home at significant savings. DFS has more than 100 stores in numerous countries throughout Asia and the Pacific; including Hawaii, Guam, Saipan, Palau, Japan, Hong Kong, Macau, Singapore, Bali, New Zealand, Australia, Taiwan, Korea, Okinawa, New Caledonia, the Peoples Republic of China, and the U.S. Mainland.
Corporate headquarters are based in Hong Kong. DFS employs more than 5,000 people around the world in their offices, Gallerias, airport shops, and other stores. For more information, please visit the magazine’ Web site.
About TradeBeam
TradeBeam is a Global Trade Management software and services company providing solutions that streamline global trading processes for enterprises and their partners. TradeBeam’s integrated solutions provide import and export compliance, inventory management, shipment tracking, supply chain event management and global trade finance solutions such as open account and letter of credit management. TradeBeam has over 3,000 customers with users in over 100 countries worldwide.