12 ReTech Continues to Streamline and Consolidate Operations to Strongly Increase Revenues and Decrease Expenses.
Las Vegas, NV & Hong Kong, Jan. 23, 2020 (GLOBE NEWSWIRE) -- 12 ReTech Corporation (OTC: RETC) announced today that it has appointed Emily Santamore as President of its newly formed division; 12 Fashion Group effective immediately. 12 Fashion Group consolidates the operations and fashion brands of Red Wire Group, Emotion Fashion Group, Lexi-Lu Dancewear, Rune NYC and Social Sunday efficiently under one roof located in the garment district of New York City.
Under Emily’s management team, The Company has organized the responsibilities of team members who previously wore too many hats in the running of their business so they can each concentrate their efforts at growing the combined business. For instance, sales people will sell all the brands under our roof instead of just their own. One accounting team takes care of the back office for the entire group so that the Company can maximize the financial resources of the group. The production management team takes care of the supply chain, production and delivery for the entire group giving the Company synergies in purchasing power and production labor costs.
Emily Santamore said, “Successful businesses that have the ability to scale are successful because they organize as a team with team members owning separate responsibilities but working together to reach a common goal. In consolidating our different brands, we have shortened the process of design to production and delivery while reducing costs. This allows us to take on a substantially larger number of clients than we had the capacity for previously.”
Angelo Ponzetta the Company’s CEO stated, “When doing multiple acquisitions in a roll up as we have done, it’s important to continue to find synergies which we can leverage to build revenues using existing resources. We continue to do exactly that. With Emily we have found the perfect leader to build and expand our newly formed 12 Fashion Group.”
Emily Santamore, Founder of Rune, NYC and now 12 Fashion Group’s President continued, “While working for many fashion companies and helping to bring to market over 15 brands, I learned how to manage diverse groups of people, streamline operations while maintaining brand integrity. My past work with the world class brands that one of my mentors, David Jehan, brought to market has given me the opportunity to develop a network of extraordinary fashion industry relationships. I will use my experiences and contacts to build our 12 Fashion Group into an equally successful and famous powerhouse as any that I have worked with in the past.”
Mr. Ponzetta added, “Emily’s experience is invaluable to the growth of our fashion business which at some point in the future will provide leverage to be used to attract retailers and brands to our technology. We think that our first USA based retailer technology opportunities will come from the retailers and brands that we are already doing business with. For the immediate future, we will deploy our technology into our own Bluwire retail stores, where we will reinvent retail and demonstrate that our technology builds revenue growth and profit lift.”
Ms. Santamore concluded, “Our designers work closely with our clients to quickly develop and deliver quality consumer popular innovative products. We do this for external third parties as well as for our own sales channels. As an example, we have developed two new travel pillows that will be sold only through Bluwire, one is designed by a doctor to eliminate neck pain while traveling and the other is our unique design whereby a jacket with hoodie becomes a travel pillow.”
Maurice Ojeda, Chief Marketing Officer at Bluwire commented, “We are truly reinventing retail at Bluwire! Having our own unique proprietary products in our Bluwire stores is very exciting. Together, these new offerings will work well with the soon to be deployed retail technology at Bluwire. We think that the unique travel and shopping APP that we are building though 12 ReTech and their interactive screens will drive incremental traffic through our shops and offering interesting proprietary products will differentiate us from our competition. I believe that in the second half of 2020 these initiatives alone may improve our revenues by as much as 20% or more.”
Under Emily’s leadership, 12 Fashion Group is projected to deliver revenue of $425,000 for the 1st quarter 2020 which exceeds by $260,000 and 157% the revenue posted by the consolidated stand-alone Fashion Brands in the 4th quarter 2019 and by $ 212,000 and 100% better than the first quarter 2019 when the stand-alone Fashion Bands together booked revenue of $212,371. *These projections do not include any revenue results projected for the Company’s Bluwire retail stores or technology division.
The figures referenced above are not audited and are subject to change as our year end audit is being worked on. Readers are advised to consider these projected results alongside the footnotes and any other accompanying information that is contained in the Company’s previously published Form 10-Q(s) and Form 10-K(s) as well as all of the filings that the Company has previously filed with the U.S. Securities and Exchange Commission.
About Emily Santamore:
Born in Seoul, Korea, Emily was adopted by her parents and moved to the USA at the age of five. Her passion for creating and drawing from a young age landed her at one of the most prestigious art universities in the United States -Tyler School of Art - at Temple University.
Graduating with a Bachelor of Fine Arts degree in Art History & Fine Arts, she packed her bags and moved to New York City destined to start something of her own that would combine her love of art and fashion. Her first company, Moral Fervor, launched in 2003, was one of the first sustainable women’s wear companies in the world. Though recognized by WWD, New York Times, Newsweek and Martha Stewart Living for its innovative fibers and collections, it seemed to be ahead of its time. Afterwards, she decided to expand her knowledge of the fashion Industry and thus spent the next 10 years managing sales and operations for countless contemporary lines.
In 2013, combining her love of design and her savvy business know-how, Emily decided to try her hand again at a line of her own with her new collection of Fashion Leggings called Rune NYC. Rune NYC was born to fill the needs of the marketplace that she felt were missing from competitor offerings. Fashion leggings that are wearable, slimming and do not break the bank. Emily uses a special fiber for her creations, which is known for its ability to hold its shape and color.
Emily states, “Initially I just wanted to feel empowered, and wearing my leggings makes me feel like I can take on the world, comfortably and other women can too!”
Rune is 100% designed, sourced and manufactured in NYC’s Garment District and since its 2013 inception has already won the hearts of major retailers.
Emily was named in Remodista’s “Women2Watch in Retail Disruption” in 2017 and sits on the boards of other Fashion Companies. Her experience in understanding the entire life cycle of products from design to production to distribution has made her a sought-after fashion consultant and industry speaker.
In March of 2019, Rune was acquired by 12 ReTech Corporation and Emily continued to head Rune NYC as a part of 12 ReTech’s family of Companies where she has demonstrated her abilities and contacts and her commitment to 12 ReTech’s mission to “Reinvent Retail”.
As President of 12 Fashion Group Emily will have full day to day control of the operations of all of 12 ReTech’s fashion brands to include production, fulfillment and sales.
Emily resides in New York City with her 8-year-old son, Parker.
About 12 ReTech Corporation:
“RETAIL REINVENTED”
12 ReTech Corporation has REINVENTED RETAIL for both our own retail outlets and other merchants who would want to license our cutting-edge retail software to experientially engage with consumers, increase revenues, reduce expenses and provide superior service to their customers. In addition to our software licensing business, the company has nine retail outlets that sell electronics and travel-related products at premium U.S.A. airport and casino locations under our Bluwire brand. We create and sell fashionable apparel under our Rune NYC, Social Sunday, Emotion Fashion & Lexi-Lu brands. We produce clothing and travel accessories at our Red Wire Group operation.
As a vertically integrated omni channel retailer 12 ReTech’s technology team truly understands and develops what merchants need in order to thrive in today’s demanding retail environment. We give our retailer clients the abilities and tools that enable them to compete effectively with the likes of Amazon, Walmart and others.
For more information about our Company visit us at www.12ReTech.com. To have your products carried in our stores visit www.shopbluwire.com. To learn about our apparel manufacturing capabilities, contact us at sales@redwiregroup.com or visit www.redwiregroup.com. To shop our brands please visit www.runenyc.com, www.lexiludancewear.com . and www.socialsunday.com. For retailers who would like to learn more about our cutting-edge software, contact us in the U.S.A at (530) 539 4329 or at solutions@12Retech.com.
Safe Harbor: This document contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the ability of the Company to successfully implement its turnaround strategy, changes in costs of raw materials, labor, and employee benefits, as well as general market conditions, competition and pricing. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this letter will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as representation by the Company or any other person that the objectives and plans of the Company will be achieved. In assessing forward-looking statements included herein, readers are urged to carefully read those statements. When used in the Annual Report on Form 10-K, the words "estimate," "anticipate," "expect," "believe," and similar expressions are intended to be forward-looking statements.
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