Veltex Corporation mulls to enter designer clothing industry
11 May '06
2 min read
Apparel and accessories maker Veltex Corporation announced that under the trade name VeltexWest, Veltex Corporation announced plans to expand operations and enter the designer clothing industry.
Javeed Matin, CEO of Veltex Corporation stated, "As we move forward with VeltexWest, we anticipate significant revenue streams in 2007 and beyond. Profit margins for VeltexWest should add greatly to the company's bottom line. Our goal is to be ready to debut our men's line at New York's famed fashion week in 2007. This segment of the garment industry is the most profitable of all and we welcome the opportunity to participate.”
“To create our initial line, we will be seeking elegant and creative ideas from some of the brightest and best new designers. Entering the designer clothing market is a natural step in the evolution of Veltex. With our well-established overseas production capabilities, entering the designer clothing segment is great news for shareholders. We will release more news as our plans move forward.
“This line will provide Veltex with the ability to market its products under already held licensed brands such as Veltex Apparel. Our investment will permit us to become a major player in the retail supply business in addition to the promotional products industry.”
Matin added that, "We are always looking for good acquisition candidates to enhance our ability to compete successfully in the marketplace and expand our business. We believethat this opportunity will create added value for our shareholders for years to come."
Veltex Corporation is a vertical manufacturing import and distribution company composed of four divisions: Veltex Apparel, Veltex Explorer Inc, Velvet Textile Mills and KCA Garment Industries.
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