Totowa, NJ, Dec. 11, 2013 (GLOBE NEWSWIRE) -- Totowa, NJ, Premiere Opportunities Group, Inc (OTCQB: PPBL) www.premiereopportunities.com announces that Hyundai Department Stores http://www.ehyundai.com/newPortal/eng/index.jsp and Lotte Department Stores http://www.lotte.co.kr/eng/02_bussiness/circulation.jsp will be driving the expansion of the CABE Studio line of clothing into Korea and subsequently Mainland China.
Chris Giordano Premiere's Chairman stated "The CABE Studio line www.cabestudio.com with its high end classic American appeal is garnering tremendous success with the upscale Korean female shoppers. Our store count is going to increase to 8 stores from 2 stores initially which will be a tremendous boost to our sales and profitability.
We could generate close to $800,000 in potential sales with just 2 stores in just these few short months the line has become available which started this past November. Expanding the store count by four should obviously increase our sales and earnings in a dramatic fashion as well as increase our footprint and brand awareness tremendously.
Continuing to expand the store count for the CABE Studio line aggressively is our goal. We expect to expand beyond the 8 stores in conjunction with the solid relationships we maintain with both Hyundai and Lotte Department Stores whom both have sponsored tremendous goodwill around this line of clothing
I see a very profitable 2014 so far with what is our low risk strategy of entering the apparel markets both here and overseas. We have very little overhead with the exception of production since management is taking no salaries and our S G&A will remain practically non existent with the exception of legal and accounting.
Our company continues to remain committed to creating shareholder value and by sacrificing salaries for the potential of increasing shareholder value substantially we should maintain pre-tax margins in the 20-25% arena.
We are looking forward to 2014 with zeal as we continue expanding our ability to attract other joint venture partners due to our ability to successfully distribute designer clothing into a market deluged with demand for our products as well as the discretionary capital available to purchase them.
Premiere is in late stage discussions with two world renowned brands looking for us to distribute their clothing into SE Asia and Mainland China and we expect to be in a position to elaborate on those potential relationships very shortly.