Apparel retailer Tag-It Pacific Inc reports Q1 sales up 28.5%
17 May '05
5 min read
Colin Dyne, Chief Executive Officer of Tag-It Pacific, commented, "During the quarter, we continued to execute our growth strategy for our Talon division, making significant strides toward getting our current franchises fully operational. We have invested in manufacturing facilities and new personnel both domestically and internationally to facilitate our growth as we progress toward this anticipated ramp up. In addition, we are currently negotiating for several new franchise territories and joint venture agreements, some which are significantly larger than any we have signed to date, and are on track with our global expansion of the Talon Brand.
"Our TrimNet business continues to grow, with the addition of new customers towards the latter part of 2004 and the continued addition of new customers in the first part of 2005," Mr. Dyne continued. "We are excited about the market's acceptance of our product offerings. Our new sales and marketing efforts give us coverage over three major regions of the country, where we are focusing on specialty retailers and major brands as we continue to grow and diversify our customer base."
Subsequent to the end of the quarter, the Company announced a significant expansion of its Talon division. The Company plans to open an owner-operated light manufacturing facility in Guatemala to service the entire Central America region. Collectively, Central America represents an estimated $30-40 million market annually. The C40 million market annually. The Company also opened a sales, marketing and customer development operation in Shanghai to target the large Northern Chinese market. Shanghai and the region potentially represent one of the largest markets in the world, which is a compelling opportunity for Tag-It.
marketing@alchempro.com
