Premiere Opportunities Group, Inc Apparel Division Receives Order For New Winter Sweater Fashion Line
September 16 2013 - 8:32AM
Premiere Opportunities Group, Inc ("OTCQB: PPBL")
www.premiereopportunites.com thru its Joint Venture with Cabe
Studio www.cabestudio.com has received an order worth approximately
$900,000 from Hyundai Department Stores based in Seoul, Korea.
Chris Giordano Premiere's Chairman stated " This marks another
milestone for our goal of bringing Western Fashion into SE Asia and
Mainland China by first establishing our lines of clothing in
Seoul, Korea which is the epicenter and harbinger for all that is
fashion throughout all of Asia. Once our lines become established
in Korea we will have tremendous impetus to move our clothing lines
into Mainland China. Korea establishes fashion trends for the
entire SE Asian region and once are lines are established
in Korea the opportunity to move the lines into Mainland
China becomes tremendous.
Our goal is establish six to ten joint ventures over the next
twelve months with "Western Brand" clothing design manufacturers
that do not have the necessary relationships to
establish their brand and line in Southeast Asia and Mainland
China. Our distribution partners will give each joint ventire
the chance of establishing a solid footprint in the region.
Most importantly is the in the case of the success of each joint
venture it is our anticipation that each line would generate
several million a year in revenue with net margins of at least
ten percent pre tax which is substantial for
a small public company such as ours.
With our approach to the joint venture model we have in place,
we eradicate most of the risk that goes along with establishing a
line of clothing for the first time. Our approach is
distinct since we initially take samples of the US based
designer's clothing
and send them to the people who have tremendous
insight and influence within the "buying group" for the
department stores in Seoul, Korea. After receiving their
feedback it establishes for us in advance whether or not the line
could be successful in the department store environment in
Korea. This symbiotic relationship we have avoids the typical
method of going into the market blind.
These relationships that we have established are with both Lotte
Department Stores
http://www.lotte.co.kr/eng/02_bussiness/circulation.jsp and Hyundai
Department Stores http://www.ehyundai.com/newPortal/eng/index.jsp
which have tremendous presence in the higher end category for
clothing and overwhelming foot traffic in all of their locations
which gives each joint venture we create over there a tremendous
opportunity to succeed. .
In addition to mitigating the acceptance risk factor we also
have a unique revenue sharing relationship with both Lotte and
Hyundai Department stores which allows us to exist in the two most
prestigious department store environments in all of Southeast
Asia and China virtually "rent free" since we do not pay for
the space we harbour.
With the successful sell thru of the Cabe Studio fall lines of
Clothing and Cashmere Sweaters we expect that 2014 will give us the
opportunity to increase the amount of department stores Cabe will
be distributed in and we are very optimistic that we could have a
presence into Mainland China which would exponentially increase
sales for the Cabe Studio line.
We are in discussions with several different US based design
manufacturers at this point and expect to sign agreements with
several of them in the coming weeks. Our risk adverse strategy of
establishing brand thru low risk joint ventures is a model that is
unique since instead of acquiring companies for cash and other
forms of debt and or equity components, we establish control of the
joint venture first, establish the brand overseas and have an
option to acquire the company in the joint venture down the road at
a set price when and if it makes sense. This allows us at this
critical stage of our operational growth to avoid unnecessary
overhead and dilution to our shareholders.
We are extremely encouraged by the early success we are
having with this strategy and once more fully established we expect
to hire a CEO with an excellent track record in running public
apparel companies to take this venue to the next level.
We feel this counterinuitive model of establishing western brand
overseas where there is a group of 500 million middle class
and affluent people with a tremendous appetite for western style
clothing is the right model as opposed to trying to establish the
brands here in the USA where the industry has considerably more
challenges from high rents to cluttered buying channels. We look
forward to expanding this business model over the coming years
and feel that the implementation of such will serve
us extremely well in the coming years.
CONTACT: Chris H Giordano
chris@premiereopportunities.com
973-291-8900