Bernard Chaus, Inc. announced today that it has entered into a long-term exclusive supply agreement with China Ting Group Holdings Limited. As terms of the agreement, China Ting will be the exclusive supplier of merchandise purchased by Chaus in Asia.
Josephine Chaus, Chairwoman and Chief Executive Officer, stated, â€œWe are very pleased to expand the long and cooperative relationship we have had with China Ting. Over the years they have been one of our more important merchandise suppliers in many product categories utilizing their substantial and impressive production capabilities. We are confident that our newly expanded relationship will enable us to improve the innovation, quality and value of our products, increase our speed to market, reduce our costs and strengthen our balance sheet.â€
Josephine Chaus added, â€œWe are excited about working with the China Ting team and infusing our brands with the benefit of China Tingâ€™s broad based product development resources, strong manufacturing capabilities and supply chain efficiency. This expanded relationship will enable us to turn our design and merchandising visions into commercial reality that will help us grow our business and benefit our customers, our consumers and our shareholders.â€
Mr. Ting Hung Yi, Chief Executive Officer of China Ting Group Holdings Limited, commented, â€œChaus has long been a valued customer and commercial partner. We are delighted that our two companies have agreed to forge a closer bond. We believe that the combination of our strengths will provide greater value to the retail marketplace and, ultimately, the consumer. Our collective resources can be the platform for substantial business expansion.â€