Carson City, NV & Hong Kong, March 13, 2018 (GLOBE NEWSWIRE) -- 12 ReTech Corporation (OTC: RETC), announced today that it has acquired E-motion Apparel, Inc. in a stock for stock transaction between 12 ReTech and Hubert (“Hub”) Blanchette, the owner and CEO of the company. E-motion Apparel owns several brands including E-motion Apparel, Lexi-Luu Dancewear, Punkz Gear and Skipjack. E-motion Apparel management will be retained and assist 12 ReTech with the growth of its e-commerce channels going forward.
Angelo Ponzetta, 12 ReTech's CEO stated, "We are pleased to have E-motion Apparel as the first acquisition of our consumer product microbrand rollup strategy. Their USA-based manufacturing capabilities will enhance our ability to quickly produce new samples and product ideas which is critical to the successful execution of our e-commerce strategy for apparel.”
“Hub Blanchette has many years of experience in running an apparel-based e-commerce business through proprietary websites as well as through internet consumer goods gateways like Zulily and Amazon.”
Hub Blanchette, commented, “I am impressed by the software technology of 12 ReTech which helps retailers to fight and thrive in the very tough environment we are experiencing today. I feel that their technology will determine the future winners in the retail industry. Joining 12 ReTech is very exciting to me. I expect our brands to benefit greatly under 12 ReTech’s ownership, as I will now have access to the working capital that I have been looking for to get our business to the next level of success. Once we receive the working capital, I am projecting $1.4 million in revenues, with $300 thousand EBITDA over the next 12 months. There are opportunities that I see where we could double these projections in the second 12 months!”
Angelo Ponzetta added, "Hub Blanchette's brands are not well known throughout the world yet, but they have a large potential to grow. What I especially like about E-motion Apparel is that the company has their own manufacturing capabilities in the USA which are tailored for smaller production runs. This will allow us to keep our online offerings new and fresh and should reduce our lead-time to test new products before committing the resources to produce large production runs overseas. This strategic asset will be very useful for our next moves.”
“I see E-motion Apparel as the foundation stone of our microbrand acquisition strategy in the USA in support of our technology efforts worldwide.”
Angelo Ponzetta concluded, "As I recently explained in my recently published shareholders update letter, we are working on many microbrands that fit our rollup acquisition model. It happens that this one, which hadn't been announced, came together very quickly, while some of our previously announced acquisitions are taking a little longer because they need third-party approvals such as from their banks. Notwithstanding, we still expect to acquire all of the acquisitions already announced."
About E-motion Apparel, Inc.
We started our business in Sunny California during 2011 and offer clothing that is equal parts, wearable art & fashion for the "every day woman". Since then, E-motion Apparel has acquired other brands that benefit from our USA production, design and marketing expertise which speaks to specific niche markets like: Lexi-Luu Dancewear, Punkz Gear, Cleo VII and Skipjack Dive & Dance Wear. For more information please visit our website at www.emotionapparelinc.com or on Facebook at: lexi-luu designs-dancewear.
About 12 ReTech Corporation
12 ReTech Corporation (OTC: RETC) is Leading the Profitable Convergence of Traditional and Online Retail Commerce Through Technology — The Omni-Channel Solution.
We are a publicly listed holding company whose operating subsidiaries develop, improve, acquire and/or license technologies designed to bridge the convergence between real world "Brick and Mortar" stores with effective Online retailing, creating a new, fun and exciting way of transacting Commerce. For Retailers, our products bring more Consumers into physical and/or online stores, encouraging them to purchase more by improving their overall shopping experiences while lowering both the Retailer's costs of customer acquisition and the costs of employee training. This is what we call Empowered Shopping. We enhance shareholder value by acquiring microbrands that can greatly increase revenue and earnings by applying and using our proprietary technologies. The access these microbrands give to sell our technologies to Major Retailers around the globe is the reason why we say, "We are the Omni-Channel Solution". Throughout history 12 is a “symbolic number" and ReTech stands for "Retail Technology". Our subsidiaries 12 Japan Ltd. and 12 Europe, A.G. operate under the guidance of our main technology subsidiary 12 Hong Kong Ltd. Our microbrands operate under the leadership of our U.S. based subsidiary 12 Retail Corporation. For more information about our products, technologies and/or microbrands visit our website at: www.12ReTech.com.
12 ReTech Corporation is publicly listed in the United States on the OTC Markets under the symbol: RETC.
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