Regarding Business Transactions with Specific Retailers
Important Notice
Regarding Business Transactions with Specific Retailers
After careful consideration, we have decided to discontinue our business relationship with a specific retailer. We would like to provide an update on this matter to ensure transparency in our decision-making process.
First, regarding payments, all transactions have been settled through mutual offset agreements, and there are no outstanding payments or defaults. In some cases, products we delivered as an OEM supplier went unpaid for extended periods, resulting in lost business opportunities for us.
*OEM = Products that were manufactured by our company upon order, exclusively for a specific retailer.
Additionally, there have been rumors circulating that are not based on facts, suggesting that there are unpaid invoices or products that were never shipped. We must clarify that such claims are entirely unfounded. We are deeply disappointed by these inaccurate statements; especially given the significant support and assistance we have provided to this retailer.
To maintain transparency in our business practices, we uphold fundamental principles even after the end of legal protection periods. We do not force delivery of products that have not been ordered by our partners, nor do we share misleading information. Regarding the items claimed to be ordered by the retailer, we have not received any official purchase orders (POs) nor issued any invoices. Any dissemination of misleading information to suit personal interests is regrettable and false.
Amid the impact of global price increases affecting our product pricing, we have received claims from a specific retailer suggesting that our collaborative products are the cause of these price hikes. However, this assertion is not supported by facts. We have repeatedly and courteously explained that the collaborative products are not the reason for the price increase, but unfortunately, we were unable to gain their understanding. Nonetheless, we remain fully committed to adapting to these changing market conditions while continuing to deliver consistently high-quality products and services to our customers with sincerity and dedication.
We will continue to strive to deliver exceptional products and services to our end-users. We look forward to building healthy and trustworthy partnerships with those who share our values and vision.
We kindly ask for your continued understanding and cooperation.
GROOVE USA INC