Walmart supplier Redman & Associates to set up manufacturing facility in Arkansas
Rogers, Ark. — Walmart and Redman & Associates, a manufacturer of ride-on toys, announced that Redman will open a new manufacturing and distribution facility in Rogers, Ark., that will six-volt battery-powered ride-on toys featuring characters from popular Disney and Marvel franchises.
Mel Redman, CEO and founder of Redman & Associates, is a retired Walmart executive. According to the Associated Press, his company was spending $7 million annually on ocean shipping before any of his merchandise reached the West Coast and then needed to be transported throughout the country. Redman said by the end of 2016, all 600,000 vehicles now made in China would be built and shipped from Rogers, according to the report.
"We are extremely proud to be able to manufacture right here in Arkansas," said Mel Redman, founder & CEO of Redman & Associates "This agreement was completed through working collaboratively with the state and Walmart and was accelerated following Walmart’s U.S. manufacturing summit in August. We look forward to starting production and creating good-paying positions with average hourly wage of $18."
More merchants go live on Master Card’s digital platform, MasterPass
Purchase, N.Y. — Beyond the Rack, Currys, lastminute.com, Newegg and PC World have gone live on MasterPass, the digital platform from Master Card. More than 20,000 leading retailers in the United States, Canada, the United Kingdom and Australia are now on the platform, according to Master Card.
“At Newegg, we view the checkout process as a core element of our customer’s overall shopping experience with us,” said Jacob Shin, VP of customer acquisition at Newegg. “We recognize that implementing advanced payment methods like MasterPass can improve our customer satisfaction and even potentially drive spend. By incorporating MasterPass, we’re able to deliver an easier and more seamless checkout experience for our customers in the U.S., and Canada.”
MasterPass eliminates the need for consumers to enter detailed shipping and card information to complete their online shopping at MasterPass merchant sites. Consumers can securely store MasterCard and other branded credit, debit and prepaid card information, address books and more. This simplifies the process of completing a transaction from any connected device, particularly those with smaller screens.
“We welcome Beyond the Rack, Currys, lastminute.com, Newegg, PC World and the ever-growing list of merchants that identify the MasterPass platform as a way to make the consumer shopping experience more convenient, simpler and faster,” said Vibhav Prasad, group head, MasterPass, at MasterCard. “MasterPass creates the cornerstone of all sorts of new shopping experiences across every channel, while delivering the security and benefits consumers enjoy today from a genuine MasterCard transaction.”
MasterPass will also be made available to both merchant and issuing partners in seven new markets – Brazil, Belgium, France, Italy, Singapore, Sweden and Spain – by year’s end.
GE Capital is sole lender on $100 million credit facility for Samuels Jewelers
Norwalk, Conn. – GE Capital, Corporate Retail Finance announced it is administrative agent and sole lender on a $100 million senior secured credit facility for Samuels Jewelers. The proceeds will be used to refinance existing debt and to support ongoing working capital needs. GE Capital Markets served as lead arranger.
“GE Capital knows our company well, and works closely with us to provide the financing we need to run our business,” said Robert Herman, CFO for Samuels Jewelers, Austin, Texas. “We particularly value their ability to finance our unique inventory and receivables.”