Acquisition News!!
Bitzio Announces Intent to Acquire ZMJ Denim
Apr 02, 2014 09:30:00 (ET)
Bitzio Announces Intent to Acquire ZMJ Denim
Plus-Size Apparel Market Projects Steady Growth
LOS ANGELES, CA--(Marketwired - Apr 2, 2014) - Bitzio (OTCQB: BTZO), a fashion acquisition company operating under the trade name Democratique, announced today a letter of intent to acquire the plus-size denim brand, ZMJ Denim.
ZMJ Denim is the brilliant creation of sisters Zakiya Jones and Tashiba Jones-Wilson, LA natives with extensive knowledge of the fashion industry and a keen sense of growing market trends.
In 2011, the duo created ZMJ Denim after noticing a void of denim in the plus-size market, a market that makes up 67% of the apparel purchasing population. The FIDM alumni believed they could change the way curvy women experienced fashion.
Tashiba Jones-Wilson described the concept as a perfect storm. "We narrowed down on two expansive categories within fashion: plus-sizes and denim. It was difficult to find trendy jeans for larger girls, but we knew that every girl deserved to wear fashionable pieces. When we realized we had the knowledge and creativity to change this, everything just clicked into place."
ZMJ Denim has provided everything from bold, edgy designs to simple and classic silhouettes. All pieces cater to plus-size women who love fashion, comfort and affordable pieces. The line has attracted the attention of fashion enthusiast Alex Martin Dean, daughter of Academy Award winner Whoopi Goldberg. Dean brought her talent to the team by creating a line of super skinny jeans for women size 10 and up. MAJ for ZMJ Denim offers jeans that compliment full-figured frames for a sexy and comfortable fit.
CEO and designer Zakiya Jones explains, "Denim is a timeless staple for any wardrobe. I realized that a lot of young women didn't have access to trendy and fashionable denim because of their size. I knew that I could use my experiences, both as a consumer and as a designer, to make shopping for these women fun and easy."
As the denim industry continues to hold its strong presence in fashion, a projected $56 billion global industry by 2018, comfort and fit carries the majority of incentive for consumers. Almost 84% of buyers purchased their denim based primarily on fit.
With the joint efforts of the Democratique team, ZMJ Denim is hoping to turn their brand into a household name for women sizes 10-24 (the majority of female consumers). In 2012, the plus-size apparel industry had nearly $7.5 billion in revenue, and that number is expected to increase to $9.7 billion by 2017. ZMJ Denim believes that these consumers have the right to be satisfied with their fit, style and price. Currently, 62% of plus-size women have difficulty finding styles they want, and more than half of those women are disappointed with the quality of their purchases. ZMJ Denim sets out to correct this fashion gap in the market.
Democratique (www.democratiquela.com) acquires emerging apparel brands just past the start-up stage, pairs them with our talented team of experienced apparel businesspeople, and equips them with the resources needed to take their brands to the next level.
About Bitzio, Inc.
Bitzio, Inc. (OTCQB: BTZO) started as a mobile app development business leveraging celebrity and athlete followings. With its learnings from the celebrity market, in mid-2013, Bitzio shifted its focus to fashion through a unique Los Angeles-based apparel incubation model. Uniquely qualified to identify promising apparel brands, Bitzio accelerates these emerging brands with its access to capital, extensive industry experience, centralized operations and established manufacturing and distribution channels. Bitzio is based in Los Angeles, California.
Forward Looking Statements
This news release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities laws, including statements relating to expectations for the proposed merger with Tech Hollywood and its performance thereafter; The terms and phrases "expects", "would", "will", "believes", and similar terms and phrases are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and assumptions made by Bitzio in light of its experience and its perception of current conditions and expected future developments, as well as other factors that Bitzio believes are appropriate in the circumstances. Many factors could cause Bitzio's actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements. These risk factors and others relating to Bitzio that may cause actual results to differ are set forth in Bitzio's periodic filings with the U.S. Securities and Exchange Commission (copies of which filings may be obtained at www.sec.gov). These factors should be considered carefully, and readers should not place undue reliance on Bitzio's forward-looking statements. Bitzio has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
For Investor and Media Inquiries:
Investor Relations
Bitzio, Inc.
Email: info@bitzio.com
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April 02, 2014 09:30 ET (13:30 GMT)
