DETROIT, Michigan, March 31, 2004 (PRIMEZONE) -- Ideal Accents, Inc. (OTCBB:IACE) today announced that it has begun to offer on-site mobile electronics and custom seat installation services to automotive dealerships in the Detroit area. The Mobile Installation Unit is a "significant innovation" in the automotive aftermarket accessorization industry. Ideal said this offers its new auto dealer clients faster, more efficient on-site service while addressing Ideal's focus on reducing costs.
The Company said that implementation of the innovative mobile strategy in Detroit would permit it to consolidate activity at its Ann Arbor and Taylor locations into its shops in Ferndale and Troy, resulting in significant savings. In Toronto the Company is reconfiguring its installation shop with plans to implement the new mobile strategy after it has been rolled out in Detroit.
Expansion Without Fixed Location Costs
According to Joe O'Connor, Chairman and CEO of Ideal Accents, Inc., "While Mobile Installation Units will create cost savings in our current markets, it will also allow us to expand our reach to adjacent markets without incurring additional fixed location costs. We believe this new business model will bolster our efforts to create a nationwide dealer-level installation fulfillment capability."
Mobile Installation Unit: Faster, More Efficient On-Site Service
The Company explained that its Mobile Installation Unit is an on-site installation vehicle, which includes a skilled installer, all the necessary installation tools and wireless networking to Ideal Accents' headquarters to enable real time inventory queries, work order placement, ordering and billing. Additionally, Ideal will use UPS / Fed Ex style pick up centers as cost-effective inventory holding stations. The Mobile Installation Units will enable the Company's automotive dealers faster, more efficient service right on site for their customers.
Ideal Accents, which recently became a publicly traded company, is the largest auto accessorizer at the new dealer level in Detroit, with 2 shops and its Mobile Installation Units serving approximately 78% of the market, and in Toronto, with 1 shop serving 40% of the market. The Company recently announced the opening of a new shop in Lansing, Michigan and its long term goal of expanding nationally through the acquisition of up to 100 shops coast to coast.
This year, while expanding its innovative Mobile Installation Unit services, the company plans to open or acquire up to five installation shops, which it believes will increase annualized sales up to 50%.
About Ideal Accents
Ideal Accents, Inc. (OTCBB:IACE), headquartered in Detroit, MI, is in the business of accessorizing cars and trucks at the new vehicle dealer level. An ISO 9001 certified company, Ideal is licensed by leading tier one suppliers to Original Equipment Manufacturers ("OEMs") like GM, Ford and Toyota to sell and install their accessory products on vehicles in the aftermarket. The company and its subsidiaries have over 100 employees at facilities in Metro Detroit, Lansing, Michigan and Toronto, Canada.
Working directly with and compensated by auto dealers in each area, Ideal installs products that speak to the automotive-related styling and functional needs of customers. These products include sunroofs, leather seats, wheels, keyless entry, GPS navigation systems, TVs, DVDs, CD changers, truck accessories and performance enhancement parts. According to SEMA, a leading market research company in the auto industry, the multi-billion dollar auto accessory business enjoys a steady average annual growth rate of approximately 7.5%.
Additional information about the company can be found on its Web site at www.idealaccents.com, including the company's filings with the SEC.
SAFE HARBOR Information in this news release or on the website may contain statements about future expectations, plans, prospects or performance of Ideal Accents, Inc. that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project," and similar words and phrases are intended to identify such forward-looking statements. Ideal cautions you that any forward-looking information provided by or on behalf of Ideal is not a guarantee of future performance. None of the information on the website constitutes an offer to sell securities or investment advice of any kind, and visitors should not base their investment decisions on information contained in the website. Ideal Accents, Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond Ideal's control, in addition to those discussed in Ideal's press releases, public filings, and statements by Ideal's management, including, but not limited to, Ideal's estimate of the sufficiency of its existing capital resources, Ideal's ability to raise additional capital to fund future operations, Ideal's ability to refinance or repay its existing indebtedness. All such forward-looking statements are current only as of the date on which such statements were made. Ideal does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.