|By Marketwired .||
|February 16, 2017 08:30 AM EST|
BOCA RATON, FL -- (Marketwired) -- 02/16/17 -- EXOlifestyle Inc. (OTCQB: EXOL), a management firm which develops and operates innovative and healthy brands within the health & wellness industry with a strong focus on athletic gear and apparel, is pleased to provide shareholders 2017 highlights and sales updates.
- Solid first year sales from our EXO, Inc. subsidiary.
- Plans to expand both our product offering and the sale of our products globally.
- Year to date results, future growth, and endorsements.
EXOlifestyle, Inc. is mainly focused on its EXO, Inc. subsidiary, which is a designer and producer of active wear brands offered in national fitness retailers in the U.S. Revenue growth at EXO has increased each quarter since we acquired it. We attribute this growth to our high-quality, original product offerings, which include an innovative compression knee sleeve collection offered in a variety of custom prints and colorful patterns, knee wraps, wrist wraps, weight belts targeted to the high-performance athletic market including CrossFit®, weightlifting, endurance training, boot camps, circuit training programs, powerlifting, Olympic weightlifting and other strength training protocols. EXO is focused on consumer markets and specialty and commercial distribution channels. Our plans for the future include continuing to increase net revenues by strengthening our position in the sports gear and apparel market by building our core business and targeting new consumer segments.
As previously announced, EXO has launched a sales channel on the Amazon.com market place. This arrangement allows Amazon to handle the fulfillment, returns and customer feedback, which allows us to focus our efforts on broadening our product offerings and expanding our presence globally. Our plans include expanding the fits, styles and colors of our current offerings, as well as expanding our offerings to multiple price points, both of which will enable us to compete more successfully and grow our consumer base. EXO currently has customers in Canada, Mexico, UK, UAE, New Zealand and Australia. We expect to expand our efforts in these countries in the Third Quarter 2017, along with Spain, France, Italy and Germany. During the Second Quarter of fiscal 2018 our plans call for introducing our world class products to the Asian markets.
"EXOlifestyle is committed to creating and distributing high-end products for the fitness market," said Vaughan Dugan, Chief Executive Officer and Director of EXOlifestyle, Inc. "Our top priority will be to provide athletes with superior product to protect them from injury. We believe by producing a world class product at an affordable price point, we can continue to build our brand and expand the global market for our products."
For the fiscal year ended September 30, 2016, active wear sales generated by EXO, Inc. have increased from the prior year with strong gross margins. The rate of increasing sales volume from EXO continued into our first quarter ended December 31, 2016 compared to the same period in 2015. Gross margins on sales during our most recent quarterly period continued to remain strong. We attribute these increases to a tremendous acceptance of our active wear brands. We expect this trend to continue as our online presence increases and our products are offered through national fitness retailers in the U.S. and worldwide. This snapshot of our active wear sales volumes does not include reported revenues from our hospitality operations as we continue to evaluate strategic alternatives for this aspect of our business. Also, total operating expenses in each of these periods has increased leading to overall net losses.
We currently sponsor and showcase regional and national athletic competitions in order to drive awareness and brand authenticity from a grassroots level. We also rely heavily on a well-established social media presence to generate awareness for our products, such as Instagram, Facebook, Twitter, Pinterest, and YouTube. We also utilize a network of influencers and brand ambassadors to generate brand awareness for EXO products. Our current brand ambassadors, which include: Keanu Neal (2016 NFL 1st Round Draft Pick, Atlanta Falcons), Anna Tunnicliffe (2008 Olympic Gold Medalist, 4X CrossFit Games Competitor), Noah Ohlsen (3X CrossFit Games Competitor, 3X Wodapalooza Champion 2015, 2016, 2017), Sarah Robles (2016 Olympic Bronze Medalist-weightlifting), Christmas Abbot (Best Selling Health & Wellness Author & Celebrity, CrossFit Athlete, NASCAR Pit Crew), Brooke Ence (Fitness Celebrity and Professional CrossFit Athlete), Kaela Stephano (2016 CrossFit Games Teen Champion), Elijah Muhammed (Elite CrossFit Athlete), Dan Bailey (4X CrossFit Games Competitor), Sheila Barden (2X CrossFit Games Competitor), and Lauren Brooks (CrossFit Games Athlete).
About EXOlifestyle Inc.
EXOlifestyle Inc. is a management firm which develops and operates innovative and healthy brands within the health & wellness industry with a strong focus on athletic gear and apparel.
EXO is a functional sports gear and apparel brand, and designer and producer of active wear products offered in fitness retailers internationally and throughout the U.S. EXO's offerings include an innovative compression knee sleeve collection offered in a variety of custom prints and colorful patterns, knee wraps, wrist wraps and weight belts targeted to the high-performance athletic market. (www.EXOsleeve.com)
Safe Harbor Statement
This release contains statements that involve expectations, plans or intentions (such as those relating to our sales expectations, products and markets) and other factors discussed from time to time in our Securities and Exchange Commission filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as "may," "should," "expect," "anticipate," "believe," "estimate," "intend," "plan" and other similar expressions. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within our control. We caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
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