Sydney, Australia, Oct. 13, 2014 (GLOBE NEWSWIRE) -- All comparisons to the prior year:
· The all cashmere knitwear Resort collection will be in store November 2014 and is inspired by Banjo & Matilda's Australian Bondi "lux casual" lifestyle origin.
· Total wholesale sales for the 2015 collection were $682,000, as compared to $261,000 for the prior year;
· Increased by 340% in United States;
· The UK saw an increase in wholesale sales of 64%;
· Wholesale Sales in Asia increased by 73% over the prior year;
· While wholesale sales increased by 22% in Australia and New Zealand
Banjo & Matilda, Inc. (OTCQB: BANJ) ("Banjo & Matilda" or the "Company"), an emerging Australian lifestyle brand, reported wholesale sales of its 2015 Resort Collection have increased by 160% or $421,000, as compared to wholesale sale for its Resort Collection last year, which was inspired again by the brand's Bondi active "lux casual" lifestyle.
Ben Macpherson, Chief Executive Officer, stated, "We were very pleased to see wholesale sales increase around the globe, and especially thrilled with the increase in retailers that now carry our Resort Collection throughout the United States. In fact, over 50% of wholesale sales for our 2015 Resort Collection were from the US. We are confident that these increases will continue worldwide as retailers' respond to consumer demand and the Banjo & Matilda "lux casual" lifestyle brand differentiation and ethos. We will continue to execute our business strategy of developing and building relationships with key retailers worldwide."
Banjo & Matilda is now available at over 200 major department and speciality premium stores such as Net-a-porter, ShopBop, Intermix, Neiman Marcus, Harvey Nichols, Kadawe in Berlin, Trilogy in UK and many more.
The Company's 2015 Resort Collection will be available in stores and online November 2014 at www.banjoandmatilda.com
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.
Additional information about Banjo & Matilda can be found at the Company's corporate website: http://www.banjoandmatildainvestors.com.
Forward looking Statement
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