Emotion Fashion Brands, Inc. lands a 4-year contract worth over $14 million dollars.
Carson City, NV & Hong Kong, Aug. 28, 2018 (GLOBE NEWSWIRE) -- 12 ReTech Corporation (OTCQB: RETC) announced today that its Emotion Fashion Brands, Inc’s Lexi-Luu Dancewear is to be sold in Asia. A distribution contract was recently signed between Emotion Fashion Brands, Inc. and Global Outlets Group, Inc., a USA based distributor who successfully brings American manufactured products and brands to countries such as Taiwan, Hong Kong, Japan, Macao, China and Vietnam.
This contract will allow Global Outlets to sell Lexi-Luu branded merchandise in its distribution territories for four years. Global Outlets Group plans to sell $1 million of Lexi Luu Dancewear in the first year, the minimum annual merchandise purchase guaranteed is $500,000, with any unpurchased amount between $500,000 and $1 million being added to the second year’s minimum guarantee. The Contract specifies a higher minimum purchase guarantee each year with the fourth year’s minimum purchase guarantee set at $10,000,000.
Lexi-Luu Dancewear is one of the micro brands that 12 ReTech acquired on May 1, 2018 as part of its Emotion Fashion Brands acquisition. Emotion Fashion now operates in Salt Lake City, Utah, and is ramping up its manufacturing operations to be able to meet domestic and international demand. Recently, Utah was ranked third by CNBC in their ‘America’s Top States for Business 2018’ scorecard which is part of the reason for the move from California. Visit Lexi-Luu’s website to learn more at www.lexiludancewear.com.
Hub Blanchett, Emotion Apparel’s CEO commented, “I am very pleased that Lexi-Luu Dancewear will be available to parents in a larger part of the world. We have brightened the smiles of children in the USA for many years, and now the time to bring our dancewear to the rest of the world has arrived.”
Angelo Ponzetta, 12 ReTech’s CEO previously stated, “Lexi-Luu is a timeless brand of kid’s dancewear that is well recognized in the “dance world”. That our products are ‘Made in the USA’ has been well received by families with young children in our primary geographic market. Hub’s team has worked closely with us and because of that, we are now ready, ahead of schedule, to grow our sales and extend our brand awareness into worldwide consumer markets.”
Hub concluded, “Many demographics on foreign lands want to experience the American lifestyle. In the 70’s, for example, famous apparel brands such as Levi’s, Lee and Wrangler were sought out in the rest of the world and became iconic symbols of American culture. We think that American culture is resurging again and Emotion Fashions is ready to meet that need in the worldwide markets. The new contract was brought to us by the 12 ReTech team who operates internationally. Their reach is one of many reasons why we joined up with them. We never would have seen this opportunity without 12ReTech.”
Mr. Ponzetta concluded,” We are working hard on our 12 Technology Suite and expect to be able to announce additional strategic partnership(s) in the near future to bring value to our prospective retailers.
About Lexi-Luu Dancewear:
A special apparel brand owned by Emotion Fashion Brands, Inc. that designs, manufactures and sells children’s dancewear apparel. This brand was launched in 2007 and recently acquired by 12 ReTech Corporation (OTCQB RETC) as part of 12 ReTech’s consumer brand roll-up strategy.
Our story is, “Lexi-Luu Designs make you feel like a star. And when you wear Lexi-Luu, a star is what you are! Playful patterns, fun colors and oodles of lace. With ruffles and flowers all over the place! For dancing, gymnastics or out to dine. The star that you are will really shine!”
Interested consumers may choose to visit us at www.lexiluudancewear.com.
About 12 ReTech Corporation:
At our core, we are a software company whose technology allows retailers to combat the dual threats of Walmart and Amazon — both online and in physical stores. Our microbrand rollup acquisition strategy allows us to demonstrate the effectiveness of our software, devise and test new products, while providing shareholder value through immediate revenue and earnings growth. The Company operates through our subsidiaries on three continents: 12 Hong Kong, Ltd., 12 Japan, Ltd., 12 Europe A.G., 12 Retail Corporation (and its subsidiaries in North America, including Emotion Fashion Brands, Inc.). For more information please visit our website at www.12ReTech.com.
12 ReTech Corporation is publicly listed on the OTCQB Markets under the symbol RETC.
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