Kinnelon, NJ, May 13, 2014 (GLOBE NEWSWIRE) -- Chris Giordano Premiere's Co Chairman and President stated " We are extremely excited about acquiring Avani Holdings, LLC. The Avani brand http://www.avaniclothing.com/ will have the potential to become an internationally recognized brand thru the creative talents and very experienced hands of our new CEO and Board member Mr. Thomas H Witthuhn. I am pleased and excited to have Tom on board with us here at Premiere. Tom's vision, creativity, industry expertise and global contacts could potentially create a tremendous opportunity for this brand to become highly successful on a global basis.
Tom's expertise in the areas of executive management, sales and licensing will bring an added dimension to the overall effort of establishing a strong foothold for our brands as well as our other venues in both the production and distribution arenas."
I am also pleased to announce that Michael Jay Rosenbaum has agreed to become the Co-Chairman of the Company along with myself. Mike brings to the table a world of experience in corporate governance as well as an invaluable database of contacts that will continue to aid us in creating incremental shareholder value. Michael was a Co-Founder of Sky Box the first trading card company in partnership with the NBA that was sold a little over four years after its creation to Topps/Fleer for over $400 million. He was also a co founder of South Beach Beverage ("SOBE) which was also sold to Pepsico for over $400 million 4 years after the company introduced its innovate beverages. Michael got his JD from Yale Law School and is a bastion of advice and guidance for our Company.
Mr. Omar Barrientos who has served the Company extraordinarily well in the past will remain on the Board of Directors for an extended period of twenty four months. Omar has been an invaluable asset to this Company and I. I have relied on his insight and counsel in the past and I look forward to working with him in the future."
The important addition of Mr. David Kovacs to our Board of Advisors and as the Managing Director of Strategic Finance rounded out this group of already highly professional and successful individuals which will give Premiere every opportunity to potentially become a world class company in the apparel industry.
Thomas Witthuhn Premiere's new Chief Executive Officer stated, "I am thrilled to have the opportunity to work with Chris and his team and to execute our shared vision for growth. Our strategy includes combining a strong US branded presence with the international reach of the Premiere Opportunities Group. Avani , a domestically produced and nationally marketed active wear brand, will greatly benefit from these combined efforts. We will now be able to bring to market several innovative technical and product initiatives that we have developed, not to mention our new found ability to tell our story - hopefully in multiple languages.
The "DNA" of our new structure will be focused on building global brands and capturing exciting new opportunities throughout the world market."
Chris Giordano further exclaimed, "This is a very exciting time for Premiere and its shareholders and we the management of Premiere appreciate the patience you have had while we carefully cleaned up the balance sheet and created the Genesis of what could turn out to be a substantial venue in the future."
Contact Chris H Giordano 973-291-8900 Thomas H Witthuhn 323-277-9090 Mitchell Schulz
