Systemax Inc., which launched in 1949 as a supplier to the materials-handling industry, was an earlier player in retail and B2B ecommerce. It operated once-popular consumer electronics ecommerce sites like TigerDirect but transitioned several years ago to focus on B2B sales. With its flagship GlobalIndustrial.com among other ecommerce sites, the company does more than half of its sales transactions online.
Now it is sharpening its focus even more on its strength in B2B ecommerce by changing its corporate name to reflect its flagship ecommerce site. Starting June 21, Systemax will change its corporate name to Global Industrial Company and begin trading on the New York Stock Exchange under the ticker symbol GIC, it announced today.
“This is an exciting day in the history of the company and one that unites the entire organization,” Richard Leeds, executive chairman, says in a statement announcing the name change. “In 1949, the company started as a small material handling business, and it’s fitting that we embrace those roots. The corporate name change is the final piece in the repositioning of the company around the Global Industrial business and one that allows us to move forward under a unified brand.”
In the past year, Systemax has taken several steps to build out and improve its ecommerce operations, including IndustrialSupplies.com and, in Canada, GlobalIndustrial.ca. In 2021, it adopted a new “We can Supply That” branding tag line and has boosted sales growth as it introduced a more personalized digital commerce customer experience.
“Today’s announcement reflects the singular focus of our business and our position as a leading pure-play industrial distributor,” says CEO Barry Litwin. “The Global Industrial name unifies our corporate operations under the brand our customers know and trust and aligns with our long-term strategic vision for the company. With our multi-year ACE (Accelerating the Customer Experience) strategy and the dedication of our associates, I believe we are well-positioned for continued growth.”
Litwin will give the keynote address on June 17 during “Breaking the Barriers to Ecommerce Success,” a virtual event hosted by Digital Commerce 360.
GlobalIndustrial.com is part of the Systemax Industrial Products Group, which has been in business for more than 70 years and now offers more than one million industrial and maintenance, repair and operations (MRO) products, including exclusive Global Industrial brands and special services.
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