Vitamin Blue Provides Update on Stand-Up Paddle Board (SUP) Market Growth
April 03 2013 - 8:00AM
Marketwired
Vitamin Blue, Inc. (OTCQB: VTMB), a developer, producer, and
distributor of water boardsports apparel, accessories and related
products, is bullish on a report forecasting the world market for
boardsports will reach $19.6 billion in 2017. Global Industry
Analysts (GIA) released its data in April 2012 (link:
http://www.surfersvillage.com/surfing-news/56025#.UU3zuhyG3et) and
cites factors for the expansion that are favorable to Vitamin
Blue's strategy:
1) Rising participation of women in the sport: According to a
2010 Wall Street Journal article
(http://online.wsj.com/article/SB10001424052748703720504575377023651849234.html?mod=wsj_valettop_email),
more than 50% of SUP buyers were women. GIA reports that women tend
to spend just as much as men on boardsports and are becoming key
decision makers in the buying process.
2) Increasing Awareness and Adoption: A jump in accessibility
and affordability has created a more diverse demographic of
participants who are spending money. Since SUP can be done
practically anywhere water is present, the continued rising profile
of boardsports will reach and draw more people into the sport.
3) Importance of Apparel: Due to the rising diverse demographic
of participants, GIA advises that apparel will be just as important
as equipment. Vitamin Blue is positioned well to gain market share
with its apparel line and custom board bags.
CEO Frank Ornelas commented, "These economic indicators are
aligned with the growth strategy we have outlined for the next
several years. Being able to carve out market share and increase
sales with these supporting stats is something for us to watch and
foster moving forward."
About Vitamin Blue, Inc. (www.vitaminblue.com): Vitamin Blue
designs, develops, produces and distributes water boardsports
apparel, accessories and related products. Founded in 1999, the
Costa Mesa, California based company is part of the consumer goods
sector and nondurables industry.
Forward Looking Statements:
This press release contains forward looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Any statements made in this press release that are not
statements of historical fact, including statements about our
beliefs and expectations, are forward looking statements. Forward
looking statements include information concerning possible or
assumed future results of operations, including descriptions of our
business plans and strategies. Although we believe that these
forward looking statements are based on reasonable assumptions, you
should be aware that many factors could affect our actual financial
results or results of operations and could cause actual results to
differ materially from those expressed in the forward looking
statements, including, without limitation, the factors described
under "Risk Factors" and "Management's Discussion and Analysis of
Financial Condition and Results of Operations" of our Securities
and Exchange Commission filings.
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