Weston, FL -- (ReleaseWire) -- 10/17/2016 --Petrone Worldwide, Inc. (OTC:PFWI), a leading distributor of commercial grade tabletop, guest & bathroom accessory solutions for the Asian and European marketplace announces today that it has expanded its business with Dewan & Sons by signing a new strategic partnership. Dewan & Sons India, a leading Houseware articles government export house is now establishing a presence in the United States, and PFWI, the appointed North American exclusive agent, today announced the signing of a strategic agreement to undertake direct sales and JIT distribution to all Dewan customers in North America. "The value-added warehousing and distribution (VAWD), dedicated contract carriage (DCC), domestic transportation management (DTM) of PFWI coupled with JIT and lean inventory management will be a significant cost savings for Dewan" said Victor Petrone, CEO of PFWI.
Victor Petrone further states, "The service includes Direct Store delivery of Dewans products to retail stores, thereby bypassing a retailer's distribution center to increase inventory turns and reduce margins for Dewan." PFWI will be servicing the following Dewan clients in North America: Amazon, Walmart, Home Goods, The Home Depot, Marshall's, Ross, Bed Bath & Beyond, TJ Maxx, and Bath & Body Works. This is a huge step forward for PFWI and will substantially increase revenues in the very short term.
"We evaluated many companies to determine the functionality that would best fit our organization. Petrone is the ideal organization based on its ability to augment our current capabilities and its significant market strength in the logistics and warehousing segment," said this strategic alliance with Petrone Worldwide creates increased real-time communication with our purchasing agents and creates a new service which is preferable, allowing reduced Minimum Order Quantities (MOQs), so that smaller, more frequent orders can be placed off- setting long-term risks of holding too much inventory" said Surender Gandhi, President of Dewan & Sons to the array of high profile customers that we currently service. We have grown to a point that in order to expand and support the growing needs of our customers, we must partner with an organization such as Petrone Worldwide. We are all very excited and look forward to working with the team." With the addition of these capabilities Petrone Worldwide is able to drive value for its customers through lower costs and faster time-to market.
"The services includes Direct Store delivery of Dewan's products to retail stores, thereby bypassing a retailers distribution center to increase inventory turns and reduce margins for Dewan" said Sanjay Magazine, Procurement & Strategic Sourcing of PFWI. "With all the Port delays, planning for safety stock has become all that much more of a key component to reducing fulfillment costs. Supply Chain operation efficiency of Petrone will bring optimum results with minimum budget. This will be a win-win tie up for all parties, "Said Joe Gandhi, Vice President of Dewan & Sons.
About Dewan & Sons
Dewan & Sons is a manufacturer in India focused on the production of articles of Brassware, Copperware, galvanized & wrought iron, aluminum ware, stainless steel utensils, EPNS and EPSS for luxury brands and mass merchandisers in North America and Europe in the houseware, furnishings marketplace. They offer, lighting, textiles, bath ware, décor, outdoor and garden products. The in- house design team works closely with leading design houses to bring new collections for every season and provide an unmatched combination of inspired design, high quality and unparalleled value.
About Petrone Worldwide, Inc. (OTC:PFWI)
Petrone Worldwide, Inc. (PFWI) has over twenty years of dedicated sales, marketing and product development expertise within the hospitality industry; selling products into worldwide markets acting as an import/export and master distributor for manufacturers. Today has evolved to be a distributor of commercial grade tabletop, guest & bathroom accessory solutions for The Asian and The European marketplace. Our exclusive brands include Front of the House, Room360 by FOH and Dewan products. Each manufacturer designs luxury products for the finest hotels, restaurants and retail worldwide; client hotel chains such as Marriott Hotel Brands, The Four Seasons Hotel & Resorts, Hilton Worldwide, Hyatt Hotels & Resorts and Starwood Hotel & Resorts.
For more information, please visit our website at www.petroneworldwide.com.
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Source: PETRONE WORLDWIDE, INC. Victor Petrone, CEO
Investor Relations Contact: UPTICK NEWSWIRE, LLC