Bangalore – April 27, 2015
Infosys (NYSE: INFY), a global leader in consulting, technology, outsourcing and next-generation services, today announced that it has been awarded a multi-year contract by House of Fraser (recently acquired by Sanpower Group China), to transform its multichannel business and IT infrastructure. The agreement was signed in the presence of Mr. Yuan Yafei, Chairman, Sanpower Group and Dr. Vishal Sikka, Chief Executive Officer, Infosys.
House of Fraser is among the leading retailers in the UK, and the company is aggressively working towards enhancing its multichannel business and expanding its global footprint. To achieve this objective, House of Fraser has selected Infosys as its strategic partner to strengthen its multichannel business, and manage and transform its core IT infrastructure. This program will in-turn, provide end consumers a seamless shopping experience, and will drive operational efficiencies and quicker time to market.
Through this engagement, House of Fraser will leverage Infosys’ expertise in the retail space, and have access to next-generation technologies such as digital and cloud. In addition, as a globally preferred partner for Sanpower Group, Infosys will work with House of Fraser as it taps into the fast growing fashion retail market in China; offering its extensive knowledge of local business nuances, access to specialized local talent pools and a collaborative multinational engagement framework.
Frank Slevin, Chairman, House of Fraser, said, “This program will help us realize faster time to market as we adopt new and advanced technologies to enhance our multichannel business. The benefits from this program will also allow us to achieve our business goals as we go global. We look forward to building a long term strategic relationship with Infosys.”
Rangarajan Vellamore, Chief Executive Officer, Infosys China, said, “We are excited about this partnership with Sanpower Group and House of Fraser. This win reinforces our strategy to collaborate with large Chinese conglomerates going global. As a globally preferred partner for the Sanpower Group, we will offer new technologies in areas such as digital and cloud across its companies and House of Fraser as it transforms its business.”
Sanpower Group is a private Chinese conglomerate, operating across numerous industries including finance, retail, and media. Sanpower Group is led by Founder and Chairman Mr. Yuan Yafei.
House of Fraser is one of the best known names on the high street department store across the UK and Ireland for last 165 years. The company completed the sale to Nanjing Cenbest (owned by Sanpower Group) marking the exciting beginning for the company under Chinese ownership.
Infosys is a global leader in consulting, technology, outsourcing and next-generation services. We enable clients, in more than 50 countries, to stay a step ahead of emerging business trends and outperform the competition. We help them transform and thrive in a changing world by co-creating breakthrough solutions that combine strategic insights and execution excellence.
Visit www.infosys.com to see how Infosys (NYSE: INFY), with US$ 8.7 billion in annual revenues and 176,000+ employees, is helping enterprises renew themselves while also creating new avenues to generate value.
Certain statements in this press release concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2014 and our Forms 6- K for the quarters ended June 30, 2014, September 30, 2014 and December 31, 2014. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. Any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company unless it is required by law.
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