JACKSON, MS -- March 3, 2017 -- InvestorsHub NewsWire -- Bahamas
Development Corp. (BDCI)
Closes on Native Outfitters Performance Apparel Acquisition
- Native Outfitters currently generates approximately $1million
per year dropping over 20% to the bottom line
- The transaction was a combination of cash and bank financing
personally guaranteed by the President of BDCI.
- BDCI positioned to grow and flourish in all geographic regions
under its business plan
Bahamas Development Corporation (OTC
PINK: BDCI) has closed on its Asset Acquisition of Native
Outfitters (Native) https://www.nativeoutfitters.com. Native is a
profitable, fast-growing wholesale turnkey performance lifestyle
apparel company focused on the "HOT" Athleisure category.
Native Outfitters already has established distribution channels in
the U.S. and Caribbean, as well as excellent supply chain
relationships. Target sectors for Native performance apparel
include the U.S. Government, Outdoor Retailers, Specialty
Retailers, and many of the Worlds Leading Resorts. Clients include,
but are not limited to, NASA, Ron Jon, Ritz-Carlton, Marriott, The
Breakers, and many other leading international hotel chains and
resorts as well as a long list of Exclusive Clients.
Native Outfitters began operations five years ago and generated
revenues of approximately $1 million in 2016. Native employs a team
of six people who have been with the company for an average of
three years. The Native team services several hundred accounts. The
current facility in West Palm Beach, FL has an in-house art
department, and the ability to process, print, and ship over 1,200
shirts per week.
Native has an exclusive agreement with its vendor for a proprietary
blend Anti-Snag SPF50+ Sun Protection fabric that automatically
renews every three years.
Anti-Snag sun shirts are most popular for outdoor enthusiasts who
enjoy boating fishing, and other outdoor sports. Native offers
other complementary lines including camp shirts, swim shirts, and a
line of shorts.
Native exhibits at four tradeshows a year. In January 2017 Native participated at Surf Expo
in Orlando, FL. Surf Expo is the largest and longest-running
board sports and beach/resort lifestyle tradeshow in the world. The
show draws buyers from specialty stores across the U.S., the
Caribbean, Central and South America and around the world. Surf
Expo attracts over 27,600 total attendees and is a trade-only event
that is not open to the public.
The Palm Beach International Boat
Show, which runs from March 23-26, 2017 is an an annual event
on Natives calendar. The show features boats, yachts, and
accessories from the worlds leading marine manufacturers,.
Included in the acquisition of Native Outfitters is the Trademark,
inventory; equipment, social network profiles and domains; Website,
including e-Commerce, Amazon, FB, Twitter, Instagram platforms.
Sales and Marketing Representatives are already in place, as are
supply chains, customer services, operations, and production.
BDCI obtained a loan and credit line from a major retail banking
lender to fund the acquisition of Native Outfitters. The
acquisition, including initial working capital, has been personally
guaranteed by BDCI's President and will not result in any dilution
or toxic debt to the Company.
The financial institution that issued the loan has already
expressed interest in funding future acquisitions BDCI is working
on. BDCI has also held several discussions with another major
retail banking lender with a view to a significantly expanded
working relationship.
About the Performance Apparel/Athleisure Market:
The rise in athleisure has given apparel sales a significant boost
in the last couple of years. In 2014, US consumers spent $323
billion on apparel, footwear and accessories, according to The NPD
Group. This was a $2 billion increase from the prior year, and
largely thanks to dramatic growth in sales of activewear. Morgan
Stanley predicts that, by 2020, activewear will represent $83
billion in sales, "stealing market share from non-athletic
apparel." According to Stylus, "The athleisure phenomenon looks set
to continue into 2016 and beyond, and is now on course to become
one of the fastest-growing global apparel product categories in the
second half of this decade."
Bahamas Development Corporation, in compliance with SEC
regulations, may in the future use social media outlets like
Facebook or Twitter and its own website to announce key information
in compliance with Reg FD.
For additional information about this release please
contact:
Investor Relations:
769-218-1796
https://twitter.com/bahamasdevcorp
https://www.facebook.com/Bahamas-Development-Corporation-469640663243771/
info@bahamasdevelopmentcorp.com
http://www.bahamasdevelopmentcorp.com/
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term is defined in Section 27(a) of the United States Securities
Act of 1933, as amended and Section 21(e) of the Securities
Exchange Act of 1934, as amended. Statements in this press release
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Actual results could differ from those projected in any
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include, among others, the inherent uncertainties associated with
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