OCEANSIDE, N.Y., Feb. 23, 2011 /PRNewswire/ -- Xsovt Brands, Inc. (OTC Bulletin Board: XSVT), an exciting new lifestyle brand and footwear company, today announced the expansion of its management team with the appointment of Jeanne McPhillips Dolan as Vice President of Strategy and Planning.
Xsovt Brands, Inc. was created on January 26, 2011 when the company acquired Oceanside, New York-based Xsovt, LLC. The addition of Ms. McPhillips Dolan, a veteran of both Federated Department Stores, Limited Brands and most recently Merchant Forecast, brings a seasoned and high caliber fashion industry executive to the company.
Ms. McPhillips Dolan's initial focus will be to facilitate the launch of Xsovt's initial footwear product (scheduled for August 2011) and to generally assist the company's senior executive officers in the development and rollout of Xsovt's business operations.
In commenting on her appointment, Ms. McPhillips Dolan stated "I am very excited about joining the innovative and creative team at Xsovt and I look forward to facilitating the launch of what promises to be an outstanding and game changing footwear product."
A graduate of The Wharton School at the University of Pennsylvania with an MBA in Marketing and Entrepreneurial Management, Jeanne McPhillips Dolan brings an accomplished track record in the fashion and merchandising space to Xsovt. She spent 8 years within the Federated Department Stores umbrella, holding merchandising and strategic planning roles at Macy's, May Merchandising Corporate, and Lord & Taylor. Following her time with Federated, and leveraging her experience in department stores, Ms. McPhillips Dolan focused on the specialty retail sector where she served in progressively increasing roles and responsibilities, including 9 years of category and branded merchandising experience and product development from well known retailers including Limited Brands (Express), QVC, and Levtran Enterprises (DTLR). For the past 4 years, Jeanne utilized her brand experience, business development acumen and strategic vision in spearheading the sales and marketing efforts for Merchant Forecast, an independent research firm specializing in retail apparel. As part of the merchant team at Merchant Forecast, she provided retail intelligence to brokerage firms, mutual funds and financial managers covering the consumer sector, and developed additional innovative platforms to market the research.
"I am very excited to welcome Jeanne to the Xsovt family," stated Avi Koschitzki, Xsovt's President and Chief Executive Officer. "Our corporate philosophy is dedicated to building the best team of progressive thinking and exceptional managers to drive our vision, business and, ultimately, value for our shareholders. We believe Jeanne's decision to join Xsovt is a validating example of this philosophy being put into action. Simply put, Jeanne is an outstanding professional whom we believe will contribute greatly to Xsovt's future successes."
Xsovt Brands, Inc. is an exciting new company that has developed a new footwear paradigm in the multi-billion dollar footwear industry. Xsovt was formed in October 2010, and the founders of Xsovt have worked since the fall of 2008 toward the development of the Xsovt™ brand and refining several innovative footwear concepts including lines for men, women and children. Xsovt has adopted a novel approach to the design, comfort, and construction of shoes and slippers, as well as the packaging in which the products are sold. Technology and comfort are incorporated in every stage of the design process to make fashion fun and comfortable. In its initial product launch, scheduled for August 2011, Xsovt will synthesize elements of style, quality and comfort comparable to high end footwear at a competitive price point. The design impetus for Xsovt's debut product line is what we call our "Crossover line", incorporating the benefits a casual shoe and a comfortable slipper, designed for both lounging at home or for a casual evening out. This design innovation epitomizes Xsovt's maxim: "Freedom to Move and Strength to Stand.™"
Xsovt's ethos has evolved from an overarching commitment to customer service and the creation of a corporate culture for its employees consistent with the company's goals. Xsovt's management and senior consultants have direct expertise in superior product development, facilitating award winning service, delivering a high end retail experience and building a dedicated staff. Several salient examples of their professional work experience include premier hotels and resorts and luxury retailers in the United States and Asia including the Bellagio, Wynn Resorts and Neiman Marcus. The prior engagements with the management of those companies helped shape Xsovt's core business and branding philosophy to imbue its corporate culture with uncompromising service and dedication to excellence.
Cautionary Note Regarding Forward Looking Statements
This press release and the statements of representatives of Xsovt Brands, Inc. (the "Company") related thereto contain, or may contain, among other things, "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements," including any other statements of non-historical information. These forward-looking statements are subject to significant known and unknown risks and uncertainties and are often identified by the use of forward-looking terminology such as "guidance," "projects," "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "ultimately" or similar expressions. All forward-looking statements involve material assumptions, risks and uncertainties, and the expectations contained in such statements may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results (including, without limitation, the performance of Xsovt's management team as well as Xsovt's ability to advance its business, generate revenue and profit and operate as a public company) could differ materially from those stated or anticipated in these forward-looking statements as a result of a variety of factors, including factors and risks discussed in the periodic reports that the Company files with the Securities and Exchange Commission (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. The Company undertakes no duty to update these forward-looking statements except as required by law.
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