SUNNY ISLES, Fla., Aug. 18, 2016 /PRNewswire/ -- (OTCQB: JOEY) -- Joey New York, Inc., through its wholly owned subsidiary, announced that it has entered into a non-binding Letter Of Intent for a joint venture with 4BG LLC with respect to certain companies known as The LABB, Botox Cosmetic LABB and Botoxlabb.com. (Labb Aesthetic Beauty Bar).
Pursuant to the terms of the LOI, JOEY will own 51% of the Joint Venture, with 4BG owning the remaining 49%. The board of directors of the new Joint Venture Company will consist of two members designated by JOEY.
Joey Chancis, Joey New York's CEO, comments: "We are extremely pleased to have 4BG enter into a Letter Of Intent with JOEY to potentially assist in developing The Labb concept together."
The Labb Aesthetic Beauty Bar offers injectable services. The concept is very simple. No Lasers, No Peels, No Facials…. Just Injectable Fillers such as Botox Cosmetic, JuvEderm, Restylane, Perlane and Voluma. These are all FDA approved products that are manufactured by Allergan and Galderma.
The LABB opened its first location in South Beach, Miami Beach, Florida in May 2016, in a cool, hip and trendy neighborhood off of Purdy Avenue. "We've been very pleased with the flow of business that we have had to date and look forward to continued growth and success as we plan to open up more LABBS all over the country. Currently we have a presence in Daytona, Florida and a Fort Lauderdale LABB is slated to open September 1, 2016," says Chancis. "We have been doing market research and identifying the best City, States and neighborhoods for this concept. We plan on an aggressive roll out in the next 18 months with potential LABB locations in southern California, Las Vegas, Nevada as well as the New York area and its surroundings."
Danielle Smith, a Nurse Practioner and CEO of 4BG, comments: "Our goal is to essentially become a major player in the Injectable arena by continuing to become masters at what we do. We can now offer these services to the masses as a part of their typical daily grooming rituals, such as brows, nails, hair, teeth cleaning, etc. Our purpose is to preserve a youthful look through prevention on our younger patients while reversing the signs of aging on our more mature patients by smoothing lines and wrinkles and creating volume to the face. We are also bringing an Artistic Approach to this concept by creating a new look and fixing facial imperfections at all times by avoiding invasive, costly, surgical procedures. For example, contouring cheekbones, bee stung luscious lips, mini brow lifts and the appearance of a thinner nose."
Ms. Chancis speaking on the Joint Venture for the LABB added "This is a truly unique concept that we feel is the future of beauty. We are essentially bringing the Injectable Business to the retail level by making it both easily accessible and affordable. I'm particularly excited about partnering with Danielle Smith, a Nurse Practitioner and the CEO of 4BG, Ms. Smith not only brings her extensive medical background to this project, but also her aesthetic work in performing Injectable Services which are both impeccable, along with her ability to bring in additional Certified Nurse Practitioners and Physician Assistants to train and manage as we grow the business. Ms. Smith and I both share the same vision and the same work ethic which makes our team dynamic in so many ways."
About The LABB:
The LABB offers only FDA approved Injectable Services. The LABB is not a med-spa or a dermatologist's office, instead The LABB is a state of the art, "by appointment only" luxury suite whose appointments are made either through online booking or by telephone. Privacy, Luxury, Affordability, On Time Appointments and Amazing Results are what is offered at The Labb. The LABB's Team is results driven emphasizing on Safety and Compliance and is totally paperless.
About Joey New York, Inc.:
Joey New York Inc. through its wholly owned subsidiary RAR Beauty, LLC is the manufacturer and marketer of its Joey New York brand of quality skin care and beauty products. The company's products are sold through various retailers, professional salons and spas and beauty websites in the United States and Internationally.
About 4BG LLC:
A newly formed Company of Young Intelligent Professionals. 4BG was formed for the purpose of partnering with a company that could provide substantial resources to build and develop their company. Their knowledge, experience and business background includes Medical, Nursing, Technology, Art, Retail Sales, Front Office Management and Medical Protocols as well as Back Office Protocols with an exorbitant amount of Energy, Ambition Savvy and Fresh Ideas.
This press release may contain forward-looking statements that are neither historical facts nor assurances of the future performance. Instead, they are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. Because forward-looking statements are related to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. I important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, acceptance of our products among consumers and professionals, our need for additional capital, our ability to manage growth as well other risks identified in our filings with the SEC. Any forward-looking statement made by us in this press release is based only on information that is currently available to us and speaks only as of the date on which it was made. We undertake no obligation to publically update any forward-looking statement, whether written or oral, that be made from time to time, whether as a result of new information, future developments or otherwise.
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SOURCE Joey New York