Omni Announces New CEO, New York Office and Intent to Acquire New Assets
26 June 2012 - 6:15AM
Omni Ventures, Inc. (OTCQB:OMVE), announced today that it has hired
Mr. Deepak Ramchandani as the Company's Chief Executive Officer.
Mr. Ramchandani, an experienced apparel industry veteran, has
launched and developed several successful apparel companies
including Brands Unlimited, LLC, a leading designer and distributer
of casual apparel to boutique customers as well as department store
chains.
Additionally, Omni announced today a Letter of Intent to acquire
certain revenue-generating assets of Brands Unlimited, including
its account receivable, customer lists and intellectual property.
Omni will also expand its operations in New York's Fashion District
where it will maintain the offices and the showroom, which will
serve the business to be acquired from Brands Unlimited as well as
its PRVCY Premium brand.
"We are very excited to welcome Deepak on Board, add new lines
of business and expand our operations into the heart of the New
York Fashion District," stated Christian Wicks, President of Omni
Ventures, Inc. He added, "Deepak brings with him about 20 years of
valuable experience in the casual apparel business as well as
additional lines of casual apparel business, which will augment our
PRVCY brand and turn Omni into a versatile apparel holding company
serving premium, mid-tier and discounted apparel markets."
Deepak Ramchandani stated: "I'm very happy to join the
management team of Omni and am looking forward to the strategic
partnerships, which we will strive to create for the company in the
mid-tier and discounted apparel markets, in addition to the premium
brand, which the Company has been developing and is planning to
re-launch. Upon completion of the due diligence and the contractual
paperwork on acquisition of the assets of Brands Unlimited, which
has shipped about $1.1M of denim and casual tops this year, we are
looking to immediately add at least $1.4M of current orders and
about another $600K of orders in the works to the books of Omni.
And by consolidating the operations between New York and Los
Angeles, combining our sales forces, reducing expenses and
targeting strategic customers we are looking forward to building a
very solid revenue base covering all tiers of the increasingly
savvy apparel shoppers markets."
About Omni Ventures
Omni Ventures, Inc. is the owner of PRVCY Couture, Inc., the
casual couture apparel and accessories design, manufacturing and
distribution company (www.prvcycouture.com) known for the "Made in
Hollywood" PRVCY brands. The Company is in various stages of
developing several related projects in the fields of consumer goods
design, manufacturing and distribution as well as consumer
services. For more info, please visit www.omve.net.
This press release may contain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995, such as statements relating to financial results and plans
for future development activities, and are thus prospective.
Forward-looking statements include all statements that are not
statements of historical fact regarding intent, belief or current
expectations of the Company, its directors or its officers.
Investors are cautioned that any such forward-looking statements
are not guarantees of future performance and involve risks and
uncertainties, many of which are beyond the Company's ability to
control. Actual results may differ materially from those projected
in the forward-looking statements. Among the factors that could
cause actual results to differ materially from those indicated in
the forward-looking statements are risks and uncertainties
associated with the Company's business and finances in general,
including the ability to continue and manage its growth,
competition, global economic conditions and other factors discussed
in detail in the Company's periodic filings with the Security and
Exchange Commission. You should carefully review the information
disclosed within the section entitled "Risk Factors" contained in
the Company's Current Report on Form 10Q/A filed on February 15,
2012, as well as the information contained in this release, when
assessing the Company and its business. The Company undertakes no
obligation to update any forward-looking statements.
CONTACT: Investor Relations:
investor.relations@omve.net
913-693-8073
Omni Ventures (CE) (USOTC:OMVE)
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