LOS ANGELES, Feb. 9, 2005 (PRIMEZONE) -- Billy Martin's USA, Inc. (Pink Sheets:BLYM) -- the 26-year-old retail company known for its apparel products with a "western twist" -- is in talks with a potential licensing partner to open upscale boutiques in Japan, according to CEO, Doug Newton, who co-founded the business with Billy Martin in New York City in 1978.
Newton said his immediate focus is to "finalize a licensing agreement calling for the design and production of upscale, apparel products made right here in America." This agreement is nearing completion, as announced by BLYM earlier this week.
"It's great to talk about opening new shops overseas," Newton said, "but our first priority is to make sure we have a strong horse, and not to put the cart in front of it. That's why our manufacturing capability will be rounded up first, and any new retail outlets will be considered thereafter."
Newton said there is excellent growth in the U.S. and overseas markets, especially in the upscale retail sector. "Traditionally, shoppers at our boutiques in New York City near Bloomingdales and in Los Angeles on the Sunset Strip have demonstrated a yen for our upscale, medium-to higher-priced western lifestyle goods."
"In the end, quality, value and uniqueness are what people want whether they live in Telluride or Tokyo."
Statements about the company's future expectations, including future revenues and earnings, and all other statements in this news release other than historical facts are "forward-looking statements." Since these statements involve risks and uncertainties and are subject to change at any time, the company's actual results may differ materially from the company's plans if its assumptions prove to be incorrect, or, for a variety of other reasons.
Billy Martin's USA, Inc. is not a reporting company registered under the Securities Act of 1934. Shares of its stock trade under the symbol "BLYM".