The net proceeds from the private placement will be used to fund working capital requirements, inventory ramp-up, marketing and future financing related expenses, including the preparation for an initial public offering.
“Karma apparel has been extremely sought after by retail stores and fitness studios throughout North America. We are thrilled to have working capital to produce inventory and begin to meet demand,” says Darrell Kopke, Chief Executive Officer of Karma Athletics Ltd. “We find ourselves in a unique position to give the active, fashion focused woman the exceptional clothing she has been searching for."
Laurentian Bank Securities Inc. acted as financial advisor to Karma in connection with the private placement.
About Karma Athletics Ltd.
Karma designs, manufactures, and sells apparel that balances current trends, runway direction, and movement through yoga and dance. Founded in 2002, Karma focuses on honoring and empowering women both on and off the mat. Social responsibility is never sacrificed in our quest to meet the needs of our loyal customer base.
Textiles | On 29th Apr 2017
The textile sector could have a uniform Goods and Services Tax (GST)...
Textiles | On 30th Apr 2017
Indian Government is working to revamp the technology mission on...
Apparel/Garments | On 30th Apr 2017
Columbia Sportswear Company has announced record net sales of $543.8...
Fabric does not restrict us from fashion trends
The biggest challenge is lack of skilled workforce and competition from...
‘Portugal is taking away a major share of the mill made sector.’
Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...
Suominen Corporation is a manufacturer of nonwovens as roll goods for...
Schlegel und Partner
Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...
Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...
Yash P. Kotak
Bombay Hemp Company
One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...
Sonam and Paras Modi's Sva Couture is synonymous with head-turning...
Apparel/Garments | On 28th Apr 2017