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Monday December 7, 8:30 am Eastern Time
Company Press Release
ModaCAD Announces Launch of On-Line Commerce Site
Site Based on Finder Technologies Offers A New Standard in On-Line Visual and Comparison Shopping for Vendors and Consumers
LOS ANGELES--(BUSINESS WIRE)--Dec. 7, 1998--In time for what is expected to be the Internet's largest holiday shopping season ever, ModaCAD Inc. (Nasdaq NMS:MODA - news) launches today its new gift finder featuring ModaCAD's dynamic search engine capable of conducting the most accurate and sophisticated searches available on the Internet today.
The gift finder also brings e-commerce transaction functionality to the Fashion Trip Web site. ModaCAD's gift finder will provide the company with a variety of new and expanded revenue streams including e-commerce fulfillment agreements enabling ModaCAD to receive a portion of revenues generated from Internet sales.
Powered by next-generation search capabilities, ModaCAD's gift finder conducts customized searches based on criteria such as gender, age, price, occasion, gift category and relationship to the shopper. It then searches through a vast selection of products and displays a selection of gifts ideally suited to the person you are shopping for, featuring multiple brands side by side.
Providing a logistical solution to e-commerce in the fashion and fashion related industries, ModaCAD has enlisted the service of an outside fulfillment and distribution facility to process orders. With the ability to process and ship 100,000 packages per day, this facility will process customers' orders, returns, and manage the customer service phone bank.
ModaCAD's gift finder not only allows users to enjoy an efficient and easy alternative to holiday shopping at traditional malls, but also features a built-in mapping technology, designed for those consumers who still need to touch and feel before they buy. For participating vendors, this technology provides a detailed map to the retail store nearest the consumer that offers their selected items. ModaCAD receives additional revenues, in the form of referral fees, for this feature.
''What makes our gift finder stand apart from other gift sites available on the Internet today is our ability to search and serve products not just from one retailer or manufacturer but from many amongst a list of premier participants and products. Other gift sites do not offer the ability to comparison shop among many brands. ModaCAD's gift finder offers users the ability to search across a variety of popular brands, matching consumers with the products they want,'' stated Joyce Freedman, ModaCAD's chairman and chief executive officer.
Debuting with a dynamic and varied list of premier participants, the gift finder's vendors include Amazon.com, Buffalo Jeans, Fiorucci, Fossil, Greed Girl, Nicole Miller, Sbicca, Skechers USA, Smashbox, Squeeze, Steve Madden, The Sak, Urban Decay, US Sales and XOXO.
Found at both www.fashiontrip.com and www.fashionfinder.com, the gift finder is ModaCAD's e-commerce enterprise for the holiday season and is launching as both a special feature of the highly trafficked Fashion Trip Web site and the initial phase of ModaCAD's recently announced FashionFinder.
In just a few months, the Fashion Trip Web site has gained enormous appeal and a loyal following among its targeted demographic of young women ages 15-28 due to its on-line lifestyle magazine format packed with always new and ever changing information on fashion, beauty, events, movies, music and video clips. The gift finder significantly expands the Fashion Trip Web site and allows its already established and still growing consumer community to take advantage of new online holiday shopping opportunities.
ModaCAD's president and chief operating officer, Maurizio Vecchione stated, ''The traffic we are experiencing on the Fashion Trip Web site continues to have overwhelmingly high growth rate of over 200% per month and represents our penetration into this core market. In time for the holidays, the gift finder brings transaction functionality to our Fashion Trip Web site.
''By already having developed a large fashion conscious, consumer user base, we will have a great competitive advantage. In addition, each page view on the Fashion Trip site represents an advertising opportunity, and the potential for ModaCAD to generate additional revenue as the Internet continues to grow as an advertising medium.''
Vecchione added, ''The gift finder represents the initial consumer launch of the company's recently announced FashionFinder. After the holidays, the gift finder is expected to be one of the popular features of ModaCAD's FashionFinder site. FashionFinder will offer additional content, functionality, participants, and target more mature audiences.''
ModaCAD is a premier developer and supplier of digital content management technology enabling advanced product visualization for electronic commerce. For the past 10 years it has leveraged its core, patented rendering technology into a variety of electronic merchandising products primarily targeted at the home design, home furnishings, apparel, and industrial design industries. ModaCAD Inc. can be found on the Internet at www.modacad.com.
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