Lot78 Sees 80% Increase in its On-Line Store, President and CEO Amhurst Anticipates Significant Brand Reach and Revenue Growth
NEW YORK, April 22, 2013 /PRNewswire/ -- As a result of increasing public demand and brand awareness through major retailers Lot78 has seen a significant growth in its on-line store. The on-line store can be accessed through the Lot78 website, www.lot78.com under the shop section.
Ollie Amhurst, President of Lot78, Inc. had this to say about the on-line store, "The addition of our e commerce capability is a very important step in diversifying our sales channels, opening up markets and growing revenue. We are ready to significantly grow and diversify our product line, which will enable us to enter much larger markets. In conjunction with our existing strategy in our wholesale division we intend to target not only the core fan base of Lot78 but also to reach a far wider audience through our website. Now people from many different markets can access our products 24 hours a day from anywhere in the world. We believe the on-line purchasing option will be a big part of our revenue growth model going forward and is especially attractive for our brand. Even though our e commerce capability is in the early stages we have already experienced a great deal of interest and expect this to gain momentum throughout the coming quarters. We believe our e commerce site is a great addition to our growing base of boutiques and retail outlets and is another important channel in our strategy to build a worldwide brand. We intend to focus a great deal of attention on marketing our on-line offering and significantly increase the diversity and number of items presented in the near future."
About Lot78, Inc.
Lot78, Inc. is a trend-setting leader in the design, marketing, distribution and sale of urban apparel – retailing under the brand name "Lot78" in five continents, including: North America, Europe, Asia, Australia, and South America. Lot78 has been featured in US Weekly, Elle Magazine, Financial Times, Harrods Magazine, The London Evening Standard, and Grazia Magazine as an emerging global brand.
Lot78, Inc. is quoted on the OTC in the United States of America under the symbol LOTE. For more information, please visit www.lot78.com.
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, Lot78's products to gain market acceptance, and the difficulties faced by an early stage retail fashion company in the competitive retail fashion industry. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in the Company's recent current reports on Form 8-K, our annual report on Form 10-K, our quarterly reports on Form 10-Q, and other periodic and current reports filed from time to time with the Securities and Exchange Commission.
SOURCE Lot78, Inc.