Innovo Group completes sale of private label business
16 May '06
3 min read
Marc Crossman, CEO and Director, stated, "We are extremely pleased with the results of our 2006 annual stockholders' meeting, and are further pleased with the number of stockholders who voted for the proposals presented at the annual meeting."
"In particular, the approval of the sale of the private label division represents an important step toward carrying out our strategic objectives which we have previously announced, namely to focus on our core asset, Joe's Jeans and our Joe's branded products. After obtaining the approval of our stockholders, we were able to close this transaction effective May 12th 2006," he added.
Innovo Group Inc, through its operating subsidiaries Innovo Azteca Apparel Inc and Joe's Jeans Inc, is a sales and marketing organization designing and selling apparel products to the retail and premium markets. Its apparel products consist of men's and women's denim and denim-related apparel products, including, high-end denim jeans and knit shirts featuring Joe's and Joe's Jeans branded products.