Totowa, NJ August 5th 2013, Aug. 5, 2013 (GLOBE NEWSWIRE) -- Totowa, NJ August, 2013. Premiere Opportunities Group, Inc (OTCQB:PPBL) www.premiereopportunities.com thru a majority controlled Joint Venture will deliver into two of the Lotte Department Stores http://www.lotte.co.kr/eng/02_bussiness/circulation.jsp based in Seoul, Korea approximately $750,000 in Cabe Studio http://cabestudio.com/indexFull.htm products.
Chris H Giordano Premiere's Chairman stated "This marks a watershed development for our philosophy of selling "Made in the USA" clothing into SE Asia and Mainland China. The clothing will be delivered in October of 2013 in advance of the holiday season in Korea.
We have received an extremely favorable response from Lotte and in the event we are successful in appealing to the Korean shopper we will begin the process of rolling out the Cabe line into many more of the Lotte stores throughout Korea and China.
This is a very exciting time for Premiere since it is thru this roll out that we could if successful establish a very strong cash flow and foundation of earnings. Our net margins after all expenses will hover around the 20% mark and this could lead to a substantial bottom line if we are able to expand our store base from two stores into a multiple of stores.
The foot traffic in a Lotte Department Store is extraordinarily high and will potentially contribute to an aggressive sales per square foot number which is a barometer when it comes to retail sales on a comparative basis. The combination of a solid sales per square foot number coupled with an aggressive roll out strategy and increasing store count could lead to a substantial price per share increase with a potentially successful venue as we move down the road with the Cabe line of clothing.
We are also in discussions with several other designers here in the USA which we hope to sign Joint Ventures with in enabling them to introduce their lines of clothing to the people of SE Asia and Mainland China working directly with Lotte Department Stores and the premiere shopping experience they offer the shopper overseas."