Wednesday May 6, 8:30 am Eastern Time
Company Press Release
Seventeen Magazine to Participate in ModaCAD and Intel Co-developed E-Business Fashion Solution
The Teen Market's Perennial Magazine Leader to Supply Editorial Content and Distribution to Enable Personalized Internet-Based Shopping Experiences
LOS ANGELES--(BUSINESS WIRE)--May 6, 1998-- ModaCAD, Inc. (Nasdaq NMS:MODA - news) Wednesday announced that it has entered into an agreement with Seventeen Magazine, the leading monthly magazine for young women aged 12-24, to participate in its upcoming e-business fashion solution that is being co-developed with Intel Corporation [Nasdaq:INTC - news].
Seventeen will provide editorial content related to fashion, health and beauty as well as entertainment topics for the teen market segment of this innovative fashion content manager which is designed to personalize on-line shopping experiences in a rich 3D environment for young women.
Additionally, Seventeen will aid in the dissemination of this e-business fashion application through a unique polybag distribution of this software at newsstands as well as other Seventeen sponsored events.
Seventeen has a large monthly circulation of more than 2.8 million readers and is known in the industry as ''junior Vogue.'' The magazine was the very first to be created for teenagers over fifty years ago and remains the leader in the field today appealing to both high school and college audiences.
Joyce Freedman, chief executive officer of ModaCAD said: ''As our first editorial content partner, Seventeen's role is key to providing fashion-related information to our subscribers. We are creating an on-line magazine presence for Seventeen that will enable this popular magazine to broaden its exposure to the influential teen market via the internet.
''Seventeen will also be a key contributor to the alternative distribution channel we are creating by offering limited versions of our fashion solution on CD-ROMs at newsstands and other Seventeen media events.''
Freedman went on to say, ''The combination of our 3D visualization capabilities combined with our state-of-the-art content manager technology not only enables us to deliver Seventeen's most current fashion-related information regarding the latest styles and trends through a variety of on-line articles, but more significantly allows us to filter information in such a way as to deliver editorial content in a specific personalized manner to each user based upon their individual appearance and interests.''
According to Lori Burgess, Seventeen's publisher: ''ModaCAD's focus on young women between the ages of 15-28 fits very closely with the demographic target of Seventeen. Seventeen has always recognized the market power within this young female group which until recently was an unrecognized, under-serviced audience.''
Teenage Research Unlimited recently reported that teens spent $122 billion last year on discretionary purchases while a Rand Youth Poll specifically showed that female teens spent approximately $50 billion last year primarily on clothing, jewelry, beauty products, entertainment and food.
''Seventeen's participation in this visually compelling e-business fashion solution is a natural extension of our editorial presence in the rapidly growing young women's market. We can't think of a better environment in which to showcase our fashion insights and content than through the captive interactive web community being developed by ModaCAD and Intel.''
Maurizio Vecchione, president and chief operating officer of ModaCAD added: ''The use of push technology within our fashion application will not only enable us to deliver fresh content to users transparently, but on a regular basis.
''Seventeen can now also offer to its readers an on-line magazine component which will allow subscribers to receive new features and articles with greater frequency as compared to traditional monthly distribution.
''On-line subscribers will also be able to engage in a variety of other fashion-related activities within the program, including using Seventeen's on-line editorial information to interactively create and shop for a new outfit from a variety of brand name retailers in a virtual mall.''
Seventeen is owned by Primedia Magazines, a wholly-owned subsidiary of a diversified information and publishing company. Additional Primedia consumer magazines include: New York, Premiere, and Automobile magazines; Soap Opera Digest and Soap Opera Weekly; Intertec Publishing, one of the largest trade magazine groups in the country; Weekly Reader; Daily Racing Form; Funk & Wagnalls' New Encyclopedia, and The World Almanac.
ModaCAD's core rendering and digital content management technologies enable computers to create photo-realistic, synthetic 3D images and scenes on a computer screen from computer generated data, in real-time.
ModaCAD develops, markets, and licenses 3D rendering, modeling and virtual reality software for a broad variety of applications to the commercial, consumer, e-commerce and OEM marketplaces. ModaCAD holds two patents on its proprietary rendering technology and distributes its products to more than 33 countries worldwide.
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Contact:
ModaCAD, Inc., Los Angeles
Alison Barney, abarney@modacad.com
or
Linda Freedman, lfreedman@modacad.com |
