Xcel Brands, Inc. (NASDAQ: XELB) (“Xcel” or the “Company”), a media
and consumer products company, is set to join the Russell Microcap®
Index at the conclusion of the 2021 Russell indexes annual
reconstitution, effective after the U.S. market opens on June 28,
according to a preliminary list of additions posted June 4.
Robert W. D'Loren, Chairman and Chief Executive
Officer of Xcel commented, “Joining the Russell Microcap Index is
the latest step in our evolution and demonstrates our success
navigating the significant impacts the COVID-19 pandemic had on the
apparel industry. As we emerge from the crisis, positive momentum
is underway driven by our strong brands, innovative business model,
and robust balance sheet and capital position. Throughout 2021 we
are focused on expanding and growing our business, and we are
seeing green shoots appear across all our channels of distribution.
I look forward to our inclusion in the Russell Microcap Index and
expanding Xcel Brands to a greater audience of investors.”
Membership in the Russell Microcap® Index, which
remains in place for one year, means automatic inclusion in the
appropriate growth and value style indexes. FTSE Russell determines
membership for its Russell indexes primarily by objective,
market-capitalization rankings and style attributes.
Russell indexes are widely used by investment
managers and institutional investors for index funds and as
benchmarks for active investment strategies. Approximately $10.6
trillion in assets are benchmarked against Russell’s U.S. indexes.
Russell indexes are part of FTSE Russell, a leading global index
provider.
For more information on the Russell Microcap®
Index and the Russell indexes reconstitution, go to the “Russell
Reconstitution” section on the FTSE Russell website.
About Xcel BrandsXcel Brands,
Inc. (NASDAQ:XELB) is a media and consumer products company engaged
in the design, production, marketing, wholesale, and
direct-to-consumer sales of branded apparel, footwear, accessories,
jewelry, home goods and other consumer products, and the
acquisition of dynamic consumer lifestyle brands. The company’s
brands have generated in excess of $3 billion US in retail sales
through live streaming on TV. Xcel was founded by Robert W. D'Loren
in 2011 with a vision to reimagine shopping, entertainment, and
social media as one. Xcel owns the Isaac Mizrahi, Judith Ripka,
Halston, LOGO Lori Goldstein and C. Wonder brands, and it owns and
manages the Longaberger brand through its controlling interest in
Longaberger Licensing LLC, pioneering a ubiquitous sales strategy
which includes the promotion and sale of products under its brands
through interactive television, brick-and-mortar retail, e-commerce
and peer to peer channels. Headquartered in New York City, Xcel
Brands is led by an executive team with significant livestream
production, merchandising, design, production, marketing,
retailing, and licensing experience, and a proven track record of
success in elevating branded consumer products companies. With an
experienced team of professionals focused on design, production,
and digital marketing, Xcel maintains control of product quality
and promotion across all of its product categories and distribution
channels. Xcel differentiates by design. www.xcelbrands.com
About FTSE Russell:FTSE Russell is a global
index leader that provides innovative benchmarking, analytics and
data solutions for investors worldwide. FTSE Russell calculates
thousands of indexes that measure and benchmark markets and asset
classes in more than 70 countries, covering 98% of the investable
market globally.
FTSE Russell index expertise and products are
used extensively by institutional and retail investors globally.
Approximately $17.9 trillion is currently benchmarked to FTSE
Russell indexes. For over 30 years, leading asset owners, asset
managers, ETF providers and investment banks have chosen FTSE
Russell indexes to benchmark their investment performance and
create ETFs, structured products and index-based derivatives.
A core set of universal principles guides FTSE
Russell index design and management: a transparent rules-based
methodology is informed by independent committees of leading market
participants. FTSE Russell is focused on applying the highest
industry standards in index design and governance and embraces the
IOSCO Principles. FTSE Russell is also focused on index innovation
and customer partnerships as it seeks to enhance the breadth, depth
and reach of its offering.
FTSE Russell is wholly owned by London Stock
Exchange Group.
For more information, visit
www.ftserussell.com.
Forward Looking StatementsThis
press release contains forward-looking statements. All statements
other than statements of historical fact contained in this press
release, including statements regarding future events, our future
financial performance, business strategy and plans and objectives
of management for future operations, are forward-looking
statements. We have attempted to identify forward-looking
statements by terminology including “anticipates,” “believes,”
“can,” “continue,” “ongoing,” “could,” “estimates,” “expects,”
“intends,” “may,” “appears,” “suggests,” “future,” “likely,”
“goal,” “plans,” “potential,” “projects,” “predicts,” “seeks,”
“should,” “would,” “guidance,” “confident” or “will” or the
negative of these terms or other comparable terminology. These
forward-looking statements include, but are not limited to,
statements regarding our anticipated revenue, expenses,
profitability, strategic plans and capital needs. These statements
are based on information available to us on the date hereof and our
current expectations, estimates and projections and are not
guarantees of future performance. Forward-looking statements
involve known and unknown risks, uncertainties, assumptions and
other factors, including, without limitation, the risks discussed
in the “Risk Factors” section and elsewhere in the Company’s Annual
Report on form 10-K for the year ended December 31, 2020 and its
other filings with the SEC, which may cause our or our industry’s
actual results, levels of activity, performance or achievements to
differ materially from those expressed or implied by these
forward-looking statements. Moreover, we operate in a very
competitive and rapidly changing environment. New risks emerge from
time to time and it is not possible for us to predict all risk
factors, nor can we address the impact of all factors on our
business or the extent to which any factor, or combination of
factors, may cause our actual results to differ materially from
those contained in any forward-looking statements. You should not
place undue reliance on any forward-looking statements. Except as
expressly required by the federal securities laws, we undertake no
obligation to update any forward-looking statements, whether as a
result of new information, future events, changed circumstances or
any other reason.
For further information please contact:
Andrew BergerSM Berger &
Company216-464-6400andrew@smberger.com
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