Kinnelon, NJ, April 1, 2014 (GLOBE NEWSWIRE) -- Premiere Opportunities Group, Inc www.premiereopportunities.com(OTCQB:
PPBL) is pleased to announce that it has signed a Letter of Intent
to purchase 100% of Avani Holdings LLC.
Avani Holdings is the parent company and 100% owner of the Avani
Clothing line http://www.avaniclothing.com
which is a "Made in USA" active wear brand sold nationally in
department store, sports specialty stores, specialty stores, gyms,
studios and online. Avani Activewear's earth-friendly collections
and sustainable business practices reflect its mission "to leave
the earth a little more beautiful than we have found it" by
offering organic and sustainable garments to its customer
Chris H Giordano Premiere's President and Chairman stated " We
are very excited to have the opportunity to purchase the Avani
brand and work with its principal owner Mr. Thomas H. Witthuhn. We
have been exploring with Mr. Witthuhn the possibilities of the
Avani brand fitting in with our overseas sales model and have come
to the conclusion that not only is there a substantial market for
the Avani line here in the USA but a tremendous market for the
Avani product in South East Asia as well.
Avani is based in the Active Wear category which is a sector of
the apparel market that is experiencing tremendous growth as
evidenced by companies such as Lululemon http://shop.lululemon.com
prAna http://www.prana.comand
Title Nine http://www.titlenine.com.
We are extremely upbeat in working with Tom Witthuhn. Firstly,
Mr. Witthuhn brings over thirty years of senior management and
sales experience to our team. He has held senior positions in
substantial public companies such as Fruit of the Loom, Jockey
International and most recently before purchasing Avani Clothing as
CEO at Delta Galil USA
In his first year at Delta Galil he delivered a solid,
sustainable and positive future earnings trend by reducing
Operating Costs from 19.5% to 14.5% helping increase sales and
reduce inventory turning a company losing almost 9% on sales into a
company which produced earnings before income taxes of over
$10,000,000.
Chris Giordano further stated "I am pleased to say that upon the
closing of the Avani Holdings acquisition Mr. Tom Witthuhn will be
taking my spot as CEO and I will remain as President and as a
member of the Board of Directors. As I had mentioned to some in the
past, we are attempting to build the equivalent of a potential
stakes winning horse here at Premiere. The one ingredient we were
missing was a world class jockey for that horse. I feel very
strongly that in Mr. Thomas Witthuhn we have found that jockey. Tom
brings to Premiere Opportunities Group, Inc a tremendous level of
CEO level management experience as well as a substantial background
in sales and stable of global contacts that will help us
develop a very agressive and profitable business
worldwide.
Assuming a smooth and expeditious closing with Avani we look
forward to establishing with Mr. Witthuhn our multi brand strategy
of bringing both our proprietary brands as well as existing world
class brands into Southeast Asia and Mainland China and developing
a strong foothold for the Avani brand both here in the US and
overseas."
CONTACT: Chris Giordano
973-291-8900
chris@premiereopportunities.com
Mitchell Schulz
mjsvista@aol.com
