Philadelphia, July 24, 2013 (GLOBE NEWSWIRE) -- Chris H. Giordano Premiere's Chairman stated We are pleased to announce that we have formed a Joint Venture with Cabe Studio, LLC. www.cabestudio.com . Cabe and Premiere www.premiereopportunities.com will join forces whereby Cabe will be providing the joint venture with the design, fitting and manufacturing expertise and Premiere thru its apparel division will supply the expertise in distributing the Cabe line into SE Asia and China.
We formed this joint venture in order to take advantage of the opportunity to meet the tastes and demands of the extremely large and growing class of affluent people in Southeast Asia and Mainland China and the finacial rewards that can go along with it upon the success of such venue.
Cabe Studio was started in late 2010 by Ms Kathy Rego. Kathy's professional career prior to Cabe Studio focused on the technical portion of the industry where for 10 years she ran the fit and design departments of one of America's largest fashion retailers, Urban Outfitters, Inc (URBN: NASDAQ GB) overseeing the brands Anthropologie, Freepeople and Urban Outfitters. Armed with a personal mission to create classic garments that would have superior fit, Kathy left corporate fashion in 2010 to launch Cabe Studio LLC. This "Coture" brand is being met with success here in the USA and is currently being sold in America's botique stores.
Chris H. Giordano further stated "It is our quest to leverage the value of this brand agressively and we will start doing so by delivering the Cabe Studio line to The Lotte Department Stores Ltd., Seoul, Korea www.lotte.co.kr/eng/02_bussiness/circulation.jsp in the month of October, 2013.
With this particluar opportunity we will own the space inside the Lotte Department Store setting. Lotte is aggressively developing department stores all over SE Asia and Mainland China and represents a direct gateway into those markets for all of our brands now and in the future.
Shopping at a Lotte Department Store is a buying experience that is completely unique compared to a typical "mall day" here in the United States. It is a virtual fantasy land for the individual complete with all the creature comforts any person could look for in a shopping experience. We are extremely pleased by the opportunity to be so well received by Lotte Department stores and their decision to put Cabe Limited stores on the ground floor with other "Coture" brands. The foot traffic in Lotte Department stores is stellar and being on the first floor is a tribute to Kathy Rego's ability to identify trends and to adapt her designs to key markets and create fashion that suits those very opportunities.
This is a watershed development for Premiere and its goal of becoming a leading supplier of "Made in the USA" suppliers of fashion to the 500 million people in SE Asia and China that make the middle and upper middle class that are buying made in the USA products which represent quality and prestige in this exponentially growing culture and demographic.
We are excited by the opportunity to work with Kathy Rego and her team, in developing this opportunity to work inside the Lotte Department Stores environment and bring this exciting brand to the shoppers of SE Asia and Mainland China.