GlobalNetXchange, an online supply marketplace for retailers, has signed German retailer Metro AG and British conglomerate J Sainsbury plc as equity partners.
The two join founding partners Sears, Roebuck and Co. and Paris-based Carrefour in developing the business-to-business marketplace. Collectively, the four purchase about $140 billion a year from more than 50,000 suppliers worldwide.
The company claims that retailers, by using standard Web browsers, will be able to capture savings through more efficient procurement of goods and services.
