Homepoint Corporation Finalizes Transition To A Pure E-Commerce Business-To-Business Operation

Furniture World Magazine

HomePoint Corporation, a leading provider of e-business solutions to the home furnishings industry, today announced that the company is going ahead with its planned transition to a purely business-to-business operation. During the second quarter of 2000, the company's original transactional retail e-commerce site (www.homepoint.com) will be reconstructed to compliment HomePoint's manufacturer and retailer extranet system, the HomePoint Advantage Network (www.homepointadvantage.com). The retooled consumer website will then function as a channel-friendly e-catalog and manufacturer/dealer locator that will showcase manufacturers' products and point consumers to retail members of the HomePoint Advantage Network. The HomePoint Advantage Network is a sophisticated extranet platform that links manufacturers and retailers across the United States, streamlining the flow of product and information throughout the industry. The system is reshaping the home furnishings supply chain, allowing manufacturers to reach a broader customer base and retailers to greatly expand their product offering--ultimately giving consumers the benefits of better product selection, faster delivery times and a hands-on relationship with their local retailer. The redesign of the original www.homepoint.com site will offer consumers a fast, convenient way to search for general product categories or specific brands, and then locate the dealer nearest them who offers that item. "Since the company's inception, it has been our goal to leverage technology to the benefit of everyone in the home furnishings industry," said Mike West, president and CEO of HomePoint Corporation. "Re-launching HomePoint.com as a channel-friendly e-catalog and dealer locator will allow us to provide the greatest value to retailers, consumers and manufacturers." Changes to HomePoint.com will become effective during the second quarter of 2000 and will bring the following benefits to consumers: oConsumers will use the site to locate a HomePoint authorized dealer near them. This provides an opportunity for the shopper to touch and feel the product before making a purchase decision. This includes working with the dealer and HomePoint's extranet system to view even more style choices. oConsumers will browse through a fresh, new product line using HomePoint's online catalog at www.homepoint.com, and then locate a local HomePoint authorized dealer near them that is stocking a specific item that they identified on the site. oConsumers will browse through the online home furnishings catalog by brand, and then find a local HomePoint authorized dealer near them that offers a specific manufacturer. HomePoint Corporation (www.homepoint.com), headquartered in Greenville, SC, is a leading provider of e-business solutions to the home furnishings industry. The company's unique business-to-business strategy enhances the efficiency and productivity of the home furnishings marketplace through a sophisticated extranet platform that connects manufacturers, retailers and consumers. By streamlining the flow of information and goods, this platform allows retailers to offer consumers an expanded selection and faster delivery. In January 2000, the company completed a $55 million second round of equity financing led by TH Lee.Putnam Internet Partners, Catterton Partners, GE Equity, Granite Associates, Piedmont Venture Partners and New Millennium Partners bringing the total amount raised to $75 million.