TORONTO, Nov. 29, 2004 (PRIMEZONE) -- Velocity International Corp., "VELOCITY," (Pink Sheets:VITJ), or the "Company," announced today that it is exploring the launch of its own Velocity Fragrance named 'KABAL.'
Velocity is investigating the possible partnership with the company International Flavors & Fragrances Inc. (NYSE:IFF). "IFF can give you the edge...creating the magic that attracts consumers and makes your product number one in the marketplace. Because we can give you the edge... creating the magic that attracts consumers and makes your product number one in the marketplace. Because we can give you the new tastes, new smells, and new ideas you need to satisfy the ever-changing tastes of consumers. Our knowledge, creativity, and passion make the difference for you. Because you and your customers are everywhere and so are we. With facilities on every continent, in over 35 countries, IFF has the resources to serve you anywhere in the world. Because we have the expertise to take your product from idea to marketplace launch. We work hand in glove with you every step of the way -- and then we go the extra mile. We work with diverse suppliers who have good business sense and a positive effect on the communities we all serve."
Velocity intends to launch the new KABAL fragrance in Japan since Japan is the world's second-largest economy, and provides an attractive market complete with high income levels and purchasing power. The Company believes that launching this new venture in Asia will assist Velocity in becoming a force in the branding and marketing of talent and products in Eastern Europe and Asia. The Company intends to have distribution arrangements with national and international retail locations in 2005.
About Velocity International Corp. -- www.VelocityIntCorp.com
Velocity International Corp. ("VELOCITY," "VITJ," or the "Company") is a publicly traded development stage company created to acquire operating talent and modeling agencies along with acquiring existing technology service companies supporting the professional and amateur talent and modeling agencies, professional and amateur athletes, designers, creative professionals and support entertainment industry professionals. Ultimately, the company intends to provide one-stop solutions and services that address the needs of the fashion and entertainment production client throughout the world.
About International Flavors & Fragrances Inc. -- www.iff.com
IFF is the world's leading creator and manufacturer of flavors and fragrances used in a wide variety of consumer products -- from fine fragrances and toiletries, to soaps, detergents and other household products, to beverages and food products. IFF is dedicated to The Pursuit of Excellence in every area of its business, using knowledge, creativity, innovation and technology to continually provide customers with the highest quality products and service and superior consumer understanding. IFF has sales, manufacturing and creative facilities in 34 countries worldwide and annual sales exceeding $1.9 billion.
Safe Harbor Statement:
This information includes certain "forward-looking statements." The forward-looking statements reflect the beliefs, expectations, objectives, and goals of Velocity International Corp. management with respect to future events and financial performance. They are based on assumptions and estimates, which are believed reasonable at the time such statements are made. However, actual results could differ materially from anticipated results. Important factors that may impact actual results include, but are not limited to commodity prices, political developments, legal decisions, market and economic conditions, industry competition, the weather, changes in financial markets and changing legislation and regulations. Matters discussed in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in any reports filed by the Company. Forward-looking statements are intended to qualify for the safe harbor provisions of Section 21E of the Securities and Exchange Act of 1934, as amended.