HANA, HI. , Feb. 2, 2005 (PRIMEZONE) -- Maui General Store, Inc. (OTCBB:MAUG) announced the creation of a new corporate subsidiary, Retail Development Corporation, that will design and manufacture retail clothing products, as well as develop retail store concepts.
The first clothing concept to benefit from Retail Development Corporation's services is Baby Buddha, Inc., a designer and manufacturer of innovative clothing for children that embodies Buddhist and other Asian/Eastern influences in its clothing design. Retail Development Corporation feels that the target market for the Baby Buddha line of clothing encompasses infant designs, clothing and accessories for toddlers, and apparel intended for children and teens, with matching designs also available for adults.
Another initial client for Maui General Store's Retail Development Corporation subsidiary is Little Habana, a clothing and accessory manufacturer that cultivates a Cuban and South American influence in its brightly colored designs. One of Little Habana's introductory products is the Cuban Cigar Band Watch and its related accessories. Notable in their wide variety of colors and nostalgic designs, these watches, shirts and other apparel accessories are reminiscent of genuine Cuban cigar bands dating back to the 1920's.
Maui General Store CEO Richard Miller commented that "Retail Development Corporation will assist both Baby Buddha and Little Habana in developing their image, branding and market placement. Our division will also advise and negotiate on the acquisition of appropriate retail space for each clothing line. We are excited about this tremendous opportunity to further develop these two great brands." Initial retail locations for Baby Buddha are anticipated in London, Tokyo, and New York City. Little Habana retail spaces will focus initially in the Miami/South Beach area of Florida, as well as South American countries.
The statements made in this press release, which are not historical facts, contain certain `forward-looking' statements concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement.