Sydney, Australia, July 8, 2014 (GLOBE NEWSWIRE) -- Banjo & Matilda, Inc. (OTCQB: BANJ) ("Banjo & Matilda" or the "Company"), an emerging Australian lifestyle brand, reported an increase in wholesale demand of its "Fall/Winter" seasons, which led to record sales of $897,000, or a 63% increase over the prior-year's Pre Fall / Fall Winter season.
In addition, retail outlets currently stocking Banjo & Matilda include 129 stores as of June 26, 2014, an increase of 617% from the 18 stores for the same season prior year. New retailers now stocking Banjo & Matilda include major department and speciality premium stores including among others Net-a-porter, ShopBop, Intermix, Neiman Marcus, Harvey Nichols, Kadawe in Berlin, Trilogy in UK and many more.
Ben Macpherson, Chief Executive Officer, stated, "As expected our sales continue to increase as retailers around the world adopt the brand and grow our distribution. Ultimately the rise in wholesale distribution through premium retailers is a result of consumer demand for our "lux casual" lifestyle products and brand. We expect this momentum to continue as we build and develop a global network of premier retail partners that carry Banjo & Matilda."
The Company's Pre-Fall line arrived in retail stores around the world on June 30, 2014 as well as available online at www.banjoandmatilda.com.
About Banjo & Matilda
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.