Graphic Arts Supplies.com Runs Out Of Time, Will Shut Down
Press release from the issuing company
8/14/01 (WhatTheyThink.com) Unless a last minute deal can be signed, Graphic Arts Supplies.com will cease operations later this week. The Tustin, California based online super-store has been in business for less than two years. Graphic Arts Supplies.com was seeking viable partnership opportunities among several major industry dealers, distributors, franchisers and manufacturers, but potential partners could not pull the trigger.
In July, the firm announced a deal with CreativePro.com to power a graphic arts super store for the creative and design portal. The co-branded store is complete and operational. (We were unable to reach CreativePro.com executives before press time.) Graphic Arts Supplies.com said at the time that a couple of other stores were in the works for other industry communities.
According to a statement obtained by WhatTheyThink.com today, sales for the company were up 18% and 30% for the months of June and July 2001. Sales were projected to reach over $1 million dollars this year - “half from software in the creative and SOHO market” probably as a result of their contract with CreativePro.com.
In June, Graphic Arts Supplies.com announced they had streamlined operations to achieve profitability. The company told WhatTheyThink.com they were seeking viable partnership opportunities among industry dealers and distributors with multiple locations and a current investment in distribution infrastructure. The company also planned to license their technology and web based e-commerce platform to other companies.
Gary Fisher, President, said cash dried up as growth occurred - despite those reductions in overhead. Fisher said the lackluster valuation of the vision of what they built derailed recent acquisition and partnership opportunities. Said Fisher, “The (technology) could have been modified quickly to provide a turnkey solution for any major player set on reaching new markets and increasing their depth in existing markets. The consolidation of Graphic Arts Supplies.com with a strategic partner would have been an asset to any company’s portfolio. Unfortunately, this did not occur."
More information about the company can be gathered from www.GraphicArtsSupplies.com or by contacting Gary Fisher at 1-800-315-2321. More details will be released soon.
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