RENO, Nev., Jan. 14, 2005 (PRIMEZONE) -- MEG Athletic Corporation (Pink Sheets:MEGJ) is pleased to conclude negotiations with a leading mobile retailer that will begin retailing and distributing the MEG apparel line.
IDP Inc. of New York has shown a keen interest in retailing a casual sports apparel line such as MEG Athletics. They currently have a division that emphasizes mobile retailing, which has developed into a multi million dollar division in less than one year. The uniqueness of such a fashion forward company is its focus on retailing merchandise that is up and coming, as well as established brands that are known to sell. The clientele of such a company are aware that IDP is the type of company that will only carry brands that are ahead of the fashion curve or well established in the fashion marketplace.
MEG President, Harvey Panesar states, "This was a unique avenue for us to venture into. This is a very unorthodox state of retailing, however the typical clients of IDP Inc. are the type of fashion conscious people that we want to attract to our apparel. These are the type of people that will establish MEG in the fashion marketplace. I am very glad that we got involved with a company such as IDP. I am looking forward to our development and our joint promotion."
Mr. Panesar further states, "This is a unique opportunity that I believe will offer a great amount of prosperity for IDP and surely for us at MEG, because of the instant recognition these sales will bring to the MEG name. I am more than pleased to have completed this agreement."
IDP Inc. has been in the apparel industry for over twenty years, focusing on wholesaling, retailing and distributing various apparel lines throughout the United States and Europe. IDP's focus has always been on high-end fashions, however MEG provided IDP with a unique opportunity to distribute product that fuses athletic apparel and casual fashion.
Forward Looking Statements
The management of the company, who takes full responsibility for its content, prepared this press release. Statements in the news release concerning the company's business outlook or future economic performance, anticipated profitability, revenues, expenses, or other financial items; and statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters, are "forward looking statements" as that term is defined under the Federal Securities Laws. Forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from those contained in such statements. Such risks, uncertainties, and factors include, but are not limited to, future capital needs, changes and delays in product development plans and schedules, customer acceptance of new products, changes in pricing or other actions by competitors, and general economic conditions.
For further information please visit www.MEGathletics.com