Artfest International, Inc. to Tackle Multi-Billion Dollar Art Industry
Monday 05/11/2009 9:54 AM ET - Market Wire
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ARTI 0.0038 -2.56%
As of 10:04 AM ET 5/11/09
Artfest International, Inc. (OTCBB: ARTI) CEO Eddie Vakser announced today that Artfest International has positioned itself to gain significant market share in the multi-billion dollar art and sports collectable market by combining new Artfest Expo Center, RFID technology and the reach of the internet worldwide.
Artfest recently completed the development and acquisition of new RFID software and RFID chips package. This technology will allow dealers worldwide to own an Art Channel Gallery at www.artchannelgalleries.com. According to First Research, Inc. the art dealer industry includes about 6,000 stores with combined annual revenue of $4 billion.
"The current planned acquisitions, internet and our relationships with the "World's Best Artists (TM)" will enable Artfest to become the fastest growing Art and Collectable company worldwide. We have already targeted several acquisitions and we are aggressively pursuing opportunities to make Artfest profitable in the next 18 months," stated Eddie Vakser, Artfest International CEO.
Art Channel Galleries, Inc. (www.artchannelgalleries.com) markets and sells reproductions of Autographed and Numbered, Limited-Edition Art , Sports and Celebrity Memorabilia to millions of customers all over the world. This new technology and software will revolutionize the Art and memorabilia markets, and change the way people buy and collect Art and Memorabilia.
The world collectible market is a $120 billion market. Art Channel Galleries is the first company to use an RFID technology for its direct-sales strategy in this market to recruit hundreds of thousands of Associates and Customers by word-of-mouth advertising, television marketing and web advertising. Many companies have been successful in marketing and selling everything from health products to software through direct-sales distribution channels. The principals of the ACG are seasoned professionals in the media, production, marketing, product placement/advertising and direct-sales professionals who are confident that this innovative concept can become the most successful direct-sales company by leveraging the fast-growing Fine Art Reproduction and celebrity collectible industry, the Giclee technology and a global direct-sales channel while enjoying the full protection of RFID technology and ACG data management software.
About Artfest International, Inc.
Artfest International, Inc. brings together artists, investors, decorators, designers, private collectors and art galleries. Artfest International's corporate site is www.artfestinternational.com. Artfest's subsidiaries are Art Channel, Inc. (www.artchannel.tv), and Art Channel Galleries, Inc. (www.ArtChannelGalleries.com), offering the most exciting product and rewards program in the history of direct sales marketing.
Safe Harbor Statement -- This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual or future results may differ materially from those anticipated depending on a variety of factors, including continued maintenance of favorable license arrangements, success of market research identifying new product opportunities, successful introduction of new products, continued product innovation, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. ARTI does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.
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