FBC Holding Inc (FBCD)

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$FBCD FBC Holding, Inc. (FBCD) Makes Progress to Triple its Apparel Production for Multinational Companies

https://www.accesswire.com/703447/fbc-holding-inc-fbcd-makes-progress-to-triple-its-apparel-production-for-multinational-companies

SCOTTSDALE, AZ / ACCESSWIRE / June 1, 2022 / Today FBC Holding, Inc. (OTC PINK:FBCD) through its wholly owned subsidiary, Formrunner Apparel Inc. is pleased to announce that the company is currently in the process of tripling its Apparel Production for multinational companies.

FBC Holding, Inc. is currently ramping up its production of Apparel at a fast rate due to such high demand from other companies that Formrunner made connections with following the Las Vegas Fashion Show a couple of months prior. These multinational companies the company is doing business with are in the High-End Apparel sector located in the United States along with other countries that want to purchase enormous amounts of Formrunner Apparel. President & CEO Lisa Nelson states, "This is a huge opportunity to bring in an explosive amount of revenue accompanied by growth as we continue to connect and collaborate with more companies who want to spread Formrunner Apparel around the world and bring our clothing to the next level!" Lisa Nelson also stated, "FBC Holding, Inc. is always doing whatever it takes to be ahead of other competitors overall. We will keep our beloved shareholders updated every step of the way as we continue to expand and grow."

As one of the top online shopping categories among consumers, it should come as no surprise that the US fashion industry size is huge. In fact, it's currently valued at hundreds of billions of dollars. The sales figures for 2022 are forecast at $473.42 billion. This represents a fashion industry growth rate of 8.3 percent from 2021's figures. The fashion industry growth rate this year, though relatively high, is still a slowdown from the previous year. In 2021, the industry grew at 18.4 percent, the fastest rate in the forecast period from 2019 to 2023. This also came after the steep fall in the US fashion industry sales in 2020, during which sales tumbled 21.9 percent and marked a more than $100 billion loss from 2019. This plunge is the result of the coronavirus pandemic, which has affected both the US fashion industry growth rate and sales figures. The closure of brick-and-mortar fashion retailers in compliance with local coronavirus regulations meant a fall in visitors and, subsequently, sales. Cutbacks by consumers on inessential items and an increased focus on household essentials also contributed to the negative US fashion industry growth rate in 2020. The US fashion industry sales are, however, expected to rebound from 2021 onwards. Total sales for 2023 are forecast at $494.89 billion, a 4.5 percent annual increase.