|Staples and UPS Announce Joint Venture in China for New Co-Branded Stores|
FRAMINGHAM, Mass. & ATLANTA--(BUSINESS WIRE)--Oct. 29, 2007--Staples, Inc. (Nasdaq: SPLS) and UPS (NYSE:UPS) today announced a joint venture to launch a new co-branded store in China. The new store format, co-branded Staples UPS Express, combines office supplies and document processing services from Staples, the world's largest office products company, with packaging and international shipping services from UPS, the world's largest package delivery company. The first two Staples UPS Express locations opened today in Beijing. Two additional locations are planned to open in Shanghai by the end of 2007.
"China is an important part of Staples' long-term global expansion," said Weiguo Jin, chairman of Staples China. "By partnering with UPS, the global brand for package delivery, Staples is pursuing a new growth area in the world's fastest growing market. The new Staples UPS Express store concept will serve Chinese business customers with an easy way to satisfy their frequent, time-sensitive needs for complementary office products and services."
"The Staples UPS Express concept in China stems from a long-term alliance between the two companies," said Richard Loi, senior vice president, UPS Asia Pacific and China District. "Our strengths, interests and commitment to China have led us to develop Staples UPS Express which will offer customers a convenient, one-stop location for office supplies, document services and international shipping needs. Chinese business customers will benefit from the customized solutions and one-to-one customer experience Staples UPS Express stores will present them."
The first two stores are located in Beijing Central Business District and the Financial Street. Every store will include a broad range of core office supplies, document processing services, international package shipping and packaging and labeling services for business customers and consumers. Customers can expect their UPS shipments to be picked up within 30 minutes of their phone request.
Both Staples and UPS will support the 2008 Beijing Olympic Games. UPS was chosen to be the Official Logistics and Express Delivery Sponsor, providing logistics consultation and management to The Beijing Organizing Committee for the Games of the XXIX Olympiad (BOCOG). Staples is the exclusive provider of office furniture to the BOCOG, which includes furniture for official Olympic locations.
Staples, Inc. invented the office superstore concept in 1986 and today is the world's largest office products company. With 74,000 talented associates, the company is committed to making it easy to buy a wide range of office products, including supplies, technology, furniture, and business services. With 2006 sales of $18.2 billion, Staples serves consumers and businesses ranging from home-based businesses to Fortune 500 companies in 22 countries throughout North and South America, Europe and Asia. Headquartered outside of Boston, Staples operates more than 1,900 office superstores and also serves its customers through mail order catalog, e-commerce and contract businesses. More information is available at www.staples.com.
UPS, which celebrates its 100th anniversary in 2007, is the world's largest package delivery company and a global leader in supply chain services, offering an extensive range of options for synchronizing the movement of goods, information and funds. Headquartered in Atlanta, Ga., UPS serves more than 200 countries and territories worldwide. UPS's stock trades on the New York Stock Exchange (UPS) and the company can be found on the Web at UPS.com.
CONTACT: Staples, Inc.