Under the expanded five-year agreement, iMALL will have exclusive retailing
rights for the sale of music, books, and travel within the animalhouse site.
The previous agreement granted iMALL retailing rights for virtually all other products
iMALL will now oversee retailing of all products and services with the
exception of concert and event tickets. iMALL will share a percentage of gross
profits under a revenue sharing agreement with animalhouse.com.
A joint venture between Universal Studios Online and Hyundai Information
Technology Co., animalhouse.com is an online community designed to meet the
cultural, social and educational needs of college students by providing them with a place to
congregate, shop and exchange ideas. The formal launch of animalhouse.com is
slated for later this month.
“This agreement will expose the iMALL brand and e-commerce tools to a large
online community of Internet-savvy college students,” said Richard
Rosenblatt, chairman and CEO of iMALL. “We see this as a key strategic
partnership in terms of both online retailing and creating e-commerce enabled
Web sites for businesses in college towns around the country.”
iMALL offers its e-commerce services directly to merchants, as well as through
partnerships, and operates a shopping mall on the Internet.