Blue Holdings Inc adds Taverniti So Jeans in it portfolio

01 Nov '05

4 min read

The exchange transaction was approved by a majority of Blue Holdings Inc.'s Board of Directors, including all of its independent directors.

Paul Guez, Chairman and CEO stated, "The acquisition of Taverniti So Jeans represents the addition of a third premiere denim/lifestyle brand into the Blue Holdings family. Jimmy Taverniti's unique style, particularly his garment dying and stone wash techniques, will add a new dimension to our collections. We are excited to be able to collaborate with the very talented Jimmy Taverniti to further exploit the many market opportunities we see ahead. We anticipate that Taverniti will contribute in excess of $10 million in revenue in 2006 and will become an additional powerful brand for us to compete against premium jeans manufacturers."

Mr. Guez continued, "We will continue to develop the four brands we now have, Antik Denim, Yanuk, U, and Taverniti So Jeans. We firmly believe this multi-brand strategy is the right approach to grow Blue Holdings aggressively and profitably. We will continue to look to opportunistically and selectively broaden our distribution as well as to leverage our operational resources for all of the brands."

Blue Holdings Inc. will host a telephone conference regarding its third quarter 2005 earnings on November 1, 2005 at 4:30 p.m. Eastern Standard Time. The call will be open to all interested investors through a live audio Web broadcast via the Internet at www.fulldisclosure.com. Forthose who are not available to listen to the live broadcast, the call will be archived.

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