Sears, Roebuck and Carrefour, two of the world's largest retailers, are to launch the first global business-to-business online exchange serving the retail industry with Oracle.
GlobalNetXchange, based on Oracle's e-business marketplace platform, will initially focus on Sears and Carrefour's combined $80 billion chain. GlobalNetXchange will allow network members to buy, sell or trade over the Internet using standard web browsers.
Other retailers will be invited to join the founding partners in GlobalNetXchange, which at inception would be the world's largest web-based retail marketplace.
Sears and Carrefour initially will share the majority interest in the GlobalNetXchange joint venture, with Oracle holding a minority interest.
"This is a revolution in retail," said Sears chairman and CEO, Arthur C. Martinez. "It will forever redefine supply-chain processes."
Powered by OracleÆ Exchange, Oracle's online e-business marketplace, the new company is expected to become operational this month.
¨ Carrefour is the largest retailer in Europe and Latin America and the first international retailer in Asia. The stores sell food, clothing, electronics, appliances and automobile supplies. Through other subsidiaries, Carrefour operates wholesale cash-and-carry warehouses and offers insurance, automobile loans and credit cards.
¨ Sears, Roebuck & Co. is a leading U.S. retailer of apparel, home and automotive products, with annual revenue of more than $41 billion.