Totowa, NJ, Oct. 25, 2013 (GLOBE NEWSWIRE) -- Premiere Opportunities Group, Inc www.premiereopportunities.com is pleased to announce that it has become the prime reseller of Jones NY apparel into South Korea and Mainland China.
With this arrangement we now have arguably one of the strongest brand names in women's apparel as part of our weaponry in establishing a solid foothold in bringing "Made in the USA" to the middle class and affluent demographic in Southeast Asia quoted Chris H. Giordano, Premiere's President and Chairman.
The Jones NY label is synonymous with leading edge fashion which is emphasized by high quality at a
good price. The opportunity to have this as part of our portfolio of brands to be marketed into 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 is a watershed event for us given that these are the two leading department store chains in all of Southeast Asia and China.
We are extremely pleased with the relationship that is developing between Premiere and the two giants of distribution in a market that consists of well over 500,000,000 middle class and affluent people.
The opportunity to market our "Western Brand" strategy is significant and we expect to take full advantage of relationships thru our key people whom are from the region and have had long standing business relationships there for years.
Our initial orders are for approximately $750,000 for the first few months of the supply relationship with both Lotte and Hyundai stores. We are hopeful and encouraged to date that the quantity of their stores which carry our lines such as Cabe Studio, Jane Elissa and now Jones NY will increase from under 20 stores to over 100 by this time next year.
The plans to have a solid footprint in SE Asia and Mainland China are going to be marked by low risk joint ventures with high quality US based designers that have passed the "smell test" of the buyers for both Lotte and Hyundai. Once the buyers have qualified their substantial interest in putting the brand in their stores we then proceed with the joint venture and prepare the necessary financing to purchase the material and or inventory necessary to fill the initial demand in the stores. We will continue down this path and before 2013 expect to have a full upscale denim line which has been requested by both Lotte and Hyundai Department Stores.
We look forward to the future with great anticipation in conjunction with our joint ventures and Mainland China and SE Asian distribution model. We fell very encouraged by our success to date and will be dedicating our financial and human resources to continue fostering the expansion of our business there.