NEW YORK , Feb. 3, 2021 /PRNewswire/ -- Lust for Life LLC (the "Company"), the main subsidiary of Renewable Energy & Power, Inc . (OTC: RBNW), is excited to announce that the Lust for Life Footwear brand ("LFL") is focused on developing a much bigger, consumer- driven new website. As D2C (Direct to Consumer) has become the driving force at retail, online sales have been converting from brick-and-mortar stores. There has been a significant reduction of stores across all chains and in order to convert customers and ramp up online sales, Lust for Life Footwear will be revamping the entire website. We will also work closely with the GSA House Agency ( https://www.gsahouse.com ) building a fresh and dynamic social media team to keep up consumer retention and more repeated sales.
We will be manufacturing special styles for our own website. Selling our product directly to consumers will give us the advantage of collecting valuable customer data and create accounts, for future membership and loyalty programs. And since there is no "middleman" sharing profits, we can potentially see higher margins on every sale.
In 2019, retail e-commerce sales worldwide amounted to 3.53 trillion US dollars and e-retail revenues are projected to grow to 6.54 trillion US dollars in 2022. Online shopping is one of the most popular online activities worldwide. ( https://www.statista.com/statistics/379046/worldwide-retail-e-commerce-sales/ )
Lust For Life wholesale division has begun designing new product for Fall 2021. We will expand our comfort categories that will focus on fashion stay at home footwear. We have partnered with a factory in Mexico to produce a sustainable/ recycle material footwear. It is extremely important to be environmentally conscious, do better by the planet and the people who live in it. The new footwear will also be washable, comfortable and easy to wear. We will utilize specialized materials to highlight these styles on our website.
Note: our technologically equipped factories in Mexico fully participate in the new USMCA trade treaty.
The global sustainable footwear market size is expected to reach $11.8 billion by 2027, expanding at a compounded annual growth rate (CAGR) of 5.8 per cent from 2020 to 2027, according to a new report by market research and consulting firm Grand View Research. ( https://www.fibre2fashion.com/news/apparel-news/sustainable-footwear-market-size-may-hit-11-8-bn-by-2027-267790-newsdetails.htm )
Private Brand Sector , Lust for Life is continuing to build specialized product and work towards Fall 2021 expanding the retail customers. This direction comes from being able to give the retailers ability to maintain higher margin.
About Renewable Energy & Power, Inc.:
Renewable Energy & Power, Inc. (OTC: RBNW) is the parent company to Lust for Life Group. RBNW is a holding company for apparel lines with both direct to consumer and wholesale sales to national retail chains. Previously, RBNW was focused on renewable energy projects, however in August 2019 , with the acquisition of Blind Faith Concepts, Inc., which holds 100% of Lust for Life, LLC, RBNW's management determined to shift operations to focus on apparel. For more information on RBNW, visit www.lustforlifeshoes.com .
Safe Harbor and Forward-Looking Statements:
This news release contains statements that involve expectations, plans or intentions (such as those relating to future expansion or financial results) and other factors discussed from time to time in the Company's OTC Markets filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as "may," "should," "expect," "anticipate," "believe," "estimate," "intend," "plan" and other similar expressions. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the company. The company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
IR Contact :
Lust for Life Group
55 Washington Street
Suite 703
Brooklyn, NY 11201
Phone:718-971-9704
karenberend@thelflgroup.com
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SOURCE Renewable Energy & Power, Inc.