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Significant increase in sales of PPLB's William Rast apparel line
14 May '08
3 min read
At March 31, 2008, the Company had cash and equivalents of $319,000, a working capital balance of $4.3 million, and approximately $2.8 million of available financing from its factor.
Recent Developments:
• Promoted Darryn Barber to President. Darryn will continue to work as the Company's CFO and will expand his role to focus on Business Development, International Expansion, and helping to grow the Company's portfolio of brands both organically and via acquisition.
• Recently hired Andrea Sobel as Vice President of Licensing who will focus on developing the Company's licensing program across the various non-apparel categories. Ms. Sobel was formerly employed by Guess and Sanrio.
• In the first quarter of 2008, the Company added new exclusive distributors for the William Rast brand in Italy and Canada and, as announced since the end of the first quarter, new distributors for both the William Rast and People's Liberation brands in the United Kingdom and Ireland.
• In February 2008, the Company successfully launched its William Rast Collection, designed by Johan and Marcella Lindeberg of Paris68.
• In April 2008, the Company announced its William Rast primary sponsorship of an Indy Car Series car driven by Townsend Bell.
“From the start, we have had three primary strategic objectives, all aimed at increasing shareholder value,” said Colin Dyne, Chairman and Chief Executive Officer of People's Liberation. “Thesestrategic objectives include expanding the distribution of our apparel lines, growing revenues, and becoming profitable. Our first-quarter performance builds on our success in 2007 and further validates the strategic operational initiatives we have undertaken.”
“We are looking for dynamic growth in 2008 and with the expansion of Darryn's role and bringing Andrea onto the team we are very excited about the near term and beyond,” continued Dyne.
“The operational steps taken in 2007 have strengthened our infrastructure and provided us with a platform for expansion. We are excited about the addition of our William Rast branded apparel collection designed by Johan and Marcella Lindeberg of Paris68, as well as the increased visibility that our William Rast and People's Liberation brands are receiving in our core target markets, both in the U.S. and internationally.”
Recent Developments:
• Promoted Darryn Barber to President. Darryn will continue to work as the Company's CFO and will expand his role to focus on Business Development, International Expansion, and helping to grow the Company's portfolio of brands both organically and via acquisition.
• Recently hired Andrea Sobel as Vice President of Licensing who will focus on developing the Company's licensing program across the various non-apparel categories. Ms. Sobel was formerly employed by Guess and Sanrio.
• In the first quarter of 2008, the Company added new exclusive distributors for the William Rast brand in Italy and Canada and, as announced since the end of the first quarter, new distributors for both the William Rast and People's Liberation brands in the United Kingdom and Ireland.
• In February 2008, the Company successfully launched its William Rast Collection, designed by Johan and Marcella Lindeberg of Paris68.
• In April 2008, the Company announced its William Rast primary sponsorship of an Indy Car Series car driven by Townsend Bell.
“From the start, we have had three primary strategic objectives, all aimed at increasing shareholder value,” said Colin Dyne, Chairman and Chief Executive Officer of People's Liberation. “Thesestrategic objectives include expanding the distribution of our apparel lines, growing revenues, and becoming profitable. Our first-quarter performance builds on our success in 2007 and further validates the strategic operational initiatives we have undertaken.”
“We are looking for dynamic growth in 2008 and with the expansion of Darryn's role and bringing Andrea onto the team we are very excited about the near term and beyond,” continued Dyne.
“The operational steps taken in 2007 have strengthened our infrastructure and provided us with a platform for expansion. We are excited about the addition of our William Rast branded apparel collection designed by Johan and Marcella Lindeberg of Paris68, as well as the increased visibility that our William Rast and People's Liberation brands are receiving in our core target markets, both in the U.S. and internationally.”
People's Liberation Inc
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