TIDMLEG
RNS Number : 6763C
Legendary Investments PLC
23 January 2018
23 January 2017
Legendary Investments PLC
("Legendary" or the "Company")
Wincanton plc ("Wincanton") and Virtualstock Holdings Limited
("Virtualstock") partner to provide advanced Supplier to Customer
service
Wincanton, the largest British logistics company, and
Virtualstock, a Legendary investee company, have announced today
the details of a new strategic partnership. This move is part of
Wincanton's recently announced market-leading eFulfilment service,
which includes partnerships with a number of innovative British
technology companies.
Virtualstock provides a range of digital supply chain and
marketplace solutions, enabling retailers to easily and
cost-effectively expand their online product range without the need
to carry additional stock.
Virtualstock's platform delivers integrated "Supplier to
Consumer" (S2C) fulfilment functionality, allowing one retailer to
sell another retailer or supplier's goods without ever having to
stock or deliver them, driving significant opportunities for
revenue growth, while protecting margins by mitigating the impact
on operating costs. When allied with Wincanton's collaborative
logistics capability, the two companies are able to rapidly
transform a retailer's ability to quickly respond to an
ever-changing market.
Paul Durkin, Director for Home and eCommerce at Wincanton,
said:
"Rapid growth in online sales, coupled with new players in the
technology market, is fundamentally changing the end customer
experience for the better. This is putting retailers under real
pressure to improve their customer service levels and, critically,
to increase the breadth of their offer.
"This new partnership with Virtualstock helps Wincanton's retail
customers to respond to this challenge. By integrating Wincanton's
recently announced eFulfilment service with the Virtualstock
platform, we're able to expand retailers' portfolios, without them
having to hold stock. Instead, Wincanton takes care of all the
logistics, in a seamless and integrated way."
Andrew Mills, Executive Chair and CEO of Virtualstock, said:
"We are delighted to be working with Wincanton to develop a
remarkable new service for British retailers. The combined scale of
Wincanton's logistics capability with Virtualstock's proven
platform, really will transform a retailer's business in a very
short time. By using Virtualstock's The Edge(TM), Wincanton's
customers can avoid lengthy redesigns of legacy systems leading to
reduced time to market, compelling cost savings and, when combined
with Wincanton's logistics capability, rapid improvements in
customer experience."
Zafar Karim, Executive Chairman of Legendary, said:
"We are delighted at the progress that Virtualstock continues to
make. The partnership with Wincanton demonstrates the wide
applicability of Virtualstock' services, and in one step provides a
"shop window" for Virtualstock services to Wincanton's customers.
As well as servicing the retail sector and the health sector, this
latest partnership with Wincanton, the largest British logistics
company, demonstrates Virtualstock services wide
applicability."
- ENDS -
Legendary Investments Zafar Karim
PLC / Thomas Reuner 020 8201 3536
Colin Aaronson
Grant Thornton UK / Harrison
LLP Clarke 020 7383 5100
Beaufort Securities
Limited Elliot Hance 020 7382 8300
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
Wincanton plc
Wincanton is the largest British logistics firm, providing
supply chain solutions to some of the world's most admired brands
across a wide range of industries including retail, construction,
defence and energy.
As a trusted and respected business partner, we design and
implement services and solutions that range from setting up and
operating distribution networks through to bonded warehouses,
technology hosting, container transport and storage. We strive for
operational excellence in everything we do.
We work hard to understand and respond to our customers' needs,
build long term relationships and use our skills and expertise to
deliver a smarter, added value service, every day. Our customers
rely on us to make their businesses operate more efficiently and to
gain a competitive advantage in their sector.
Improved stock visibility and availability, reduction of lead
times, collaborative warehousing and transport models, and an
absolute commitment to continuous improvement, are just some of the
reasons why many of our customer relationships extend to more than
20 years.
Key facts:
-- Annual revenue in the UK & Ireland exceeds GBP1.1 billion
-- Over 18,000 colleagues including 4,000+ drivers
-- Operates from 200+ locations with 6.6 million square feet of
warehousing across the UK and Ireland
-- Operating responsibility for around 3,400 vehicles
www.wincanton.co.uk
Virtualstock
Virtualstock is a leading, British SaaS company that is
transforming global enterprise supply chains and marketplaces. Its
game-changing product, The Edge(TM), has been successful in
delivering supply chain optimisation for leading retailers, the
NHS, suppliers and, ultimately, their customers.
The Edge(TM) delivers best-in-class eProcurement functionality,
including a consumer-style B2B marketplace, full procure-to-pay
(P2P), product information management (PIM), catalogue management,
order management, inventory and stock management, e-invoicing,
track and trace, and analytics. The platform is GS1(1)
certified.
(1.) GS1 is an international organisation that develops and
maintains supply chain standards in healthcare, retail, transport
and logistics and more.
www.virtualstock.co.uk
About Legendary Investments PLC:
Legendary Investments PLC is a proactive investment company that
focuses on making investments in and assisting companies which
exhibit the potential to generate returns of many multiples through
capital appreciation. Typically, Legendary invests in small
companies where there are clear catalysts for value appreciation
and the companies are operating in sectors exhibiting long term
growth. Examples of such sectors include technology, energy and
natural resources.
www.leginvest.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCPGUWAGUPRGGW
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