Paddington, NSW 2021, Australia, May 6, 2014 (GLOBE NEWSWIRE) -- Banjo & Matilda, Inc. (OTCQB:BANJ) ("Banjo & Matilda"), an emerging high growth Australian lifestyle brand announced today that it has successfully increased the number of retail outlets "doors" currently stocking Banjo & Matilda products to 40 outlets up from 18 since Q4 of 2013, showing an increase of 122%. The company also expects to increase the number of retailer outlets by September 2014 by 433% to 96 outlets based upon forward wholesale orders received. The growth of retail outlets has been a combination of new major retailers and specialty independent outlets, showing the brands positive market adoption and penetration.
"We view the number of retailer's stocking our products as the prime indicator to sales momentum and health of the brand. We are pleased with the expansion of retail outlets and momentum, and expect the growth to continue through the balance of this year. Our long term objective is to grow our distribution similarly to market competitors we respect such as fast growing Vince (VNCE), which is in over 2,100 retail outlets and Zadig & Voltair which has had a similar growth path to our own." said CEO Ben Macpherson
ABOUT BANJO & MATILDA
Banjo & Matilda, Inc., is an emerging high growth Australian lifestyle brand, best known as a designer, producer and marketer of premium contemporary woman's knitwear. Inspired by the iconic Bondi Beach surroundings of its creative studios, Banjo & Matilda launched its first knitwear collection in 2008. Big on quality, small on pretence, and known globally for their fun statement sweaters and luxury cashmere basics, Banjo & Matilda is discreetly luxurious, yet able to capture the essence of beach culture in a range of apparel made with supreme quality and integrity. The brand has a rapidly growing loyal global following, is quickly being stocked in major and specialty retailers around the world, and is sold through its online store www.banjoandmatilda.com. ;
FORWARD LOOKING STATEMENTS:
Certain matters discussed in this press release are 'forward-looking statements' intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. In particular, the Company's statements regarding trends in the marketplace, growth in the number of stores that will carry its products, increases in its sales and financial results, are examples of forward-looking statements. Forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to, economic trends and conditions, trends in the fashion and retail industries, the acceptance of new product designs, inherent discrepancy in actual results from estimates, projections and forecasts made by management and other factors not within the Company's control The factors discussed herein and expressed from time to time in the Company's filings with the Securities and Exchange Commission could cause actual results and developments to be materially different from those expressed in or implied by forward looking statements made by the Company. The forward-looking statements contained herein are made only as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
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