Peekaboo Beans Locks Up Strategic Manufacturing Partnership to Improve Gross Margins and Engages Former lululemon Executive as Strategic Product Advisor
Peekaboo Beans Inc. (“Peekaboo Beans” or the “Company”) (TSXV: BEAN, OTCBB: PBBSF), a direct-sales retailer of children’s apparel, is pleased to announce its partnership with Exit 21 a global apparel solutions incubator.
Founded by Erick Siffert, Exit 21 was born out of a passion and desire to bring world-class design, product and process solutions to premium performance lifestyle brands. Exit 21 provides a fully integrated product solution for athletic apparel, lifestyle, outdoor or accessory needs. Everything from initial brand strategy, design, product innovation, development, fit, materials and garment sourcing and costing through delivery. The team is built with experienced merchandisers, designers, raw material researchers, developers, pattern makers and fit experts. Exit 21 has also partnered with some of the most reputable garment factories and material suppliers in the Far East and North/South America. Exit 21 strives to be an extension of Peekaboo Beans while giving you access to our network of industry experts and talent in all functions.
Mr. Siffert states,
“I have been fortunate in my experiences working at Nike and lululemon before starting my production company is 2009. Our goal has always been to partner with premium and established brands that have a strong business plan, a great story and most of all nice people. Peekaboo Beans fits all of these and more. The team is driven and passionate and we are excited to help take Peekaboo Beans to the next level regarding product and profitability. I look forward to building this relationship for many years to come”.
Peekaboo Beans has also engaged Michelle Armstrong as strategic product advisor to the Company. Michelle brings over 15 years of experience and leadership in retail, product strategy and merchandise management in a very dynamic and high growth environment. Michelle most recently served as Vice President, Global Merchandising Women’s and Accessories for lululemon athletica, inc.
Ms. Armstrong states, “I have been a customer of Peekaboo Beans for the past 6 years and have appreciated the brand for its quality, longevity and unique designs. I am excited to lead the team to build a product strategy that continues to deliver on our values and drives innovative and compelling product that achieve best-in-class financial results”.
Ms. Traci Costa, CEO of Peekaboo Beans states, “Our new partnerships with Mr. Siffert and Ms. Armstrong provide us with the much-needed strength in sourcing, production, merchandising and product strategy that will allow us to scale our business and achieve the gross margin improvements to improve our bottom line. I have personally visited our new factories overseas and am confident in our ability to stand behind the quality and ethics we mandate. With these new partnerships, and the recent hire of Ms. Cindy Tokoly as Director of Sales and Field Development, I know we now have the top industry experts behind us.”
About Peekaboo Beans
Peekaboo Beans Inc. is a high-quality, ethically manufactured children’s apparel brand sold exclusively through its direct-sales network of Stylists or independent sales representatives. In line with its mission, Peekaboo Beans develops custom fabrics and designs its apparel to promote play in children’s lives. Through the direct-sales model, Peekaboo Beans trains women to be entrepreneurs, build a business and generate income on their own terms.
Peekaboo Beans has 11,894,535 Common Shares and 5,256,243 warrants outstanding.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may include forward-looking information that is subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking. Although the Company believes the expectations expressed in such forward-looking information are based on reasonable assumptions, such information is not a guarantee of future performance and actual results or developments may differ materially from those contained in forward-looking information. Factors that could cause actual results to differ materially from those in forward-looking information include, but are not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
For further information, please contact:
Peekaboo Beans Inc.
Ms. Traci Costa
CEO and President
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Source: Peekaboo Beans Inc. (TSX Venture:BEAN, OTC Bulletin Board:PBBSF, FWB:1Z1)
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