Los Angeles, CA., Feb. 5, 2015 (GLOBE NEWSWIRE) -- January 23, 2015. Banjo & Matilda, Inc. (OTCQB: BANJ) ("Banjo & Matilda" or the "Company"), an Australian premium lifestyle brand, known for its contemporary women's cashmere, will report record sales for the December 2015 quarter.
December 2014 quarter sales rose to approximately $960,000, up 126% for the same period the prior year. The increase was driven by a 150% increase in wholesale sales, 102% increase in same store retail sales; and, an 86% increase in e-commerce store sales for the same period the prior year.
The strengthening sales were in part due to a significant increase in retailers stocking the Banjo & Matilda brand to now 200+ retail outlets, up from 18 a year earlier, strong sales of the Resort collection delivered during the December quarter; and, continuing growth in brand awareness,driving higher e-commerce store sales.
Ben Macpherson, CEO, stated, "We are seeing faster growth as new customers and retailers discover the brand, and existing customers and retailers continue to re-buy. The brand uniquely resonates with our customers who constantly tell us how much they love the brand and our products".
The Company's Spring Summer collection will be in stores next week and will also be available online at www.banjoandmatilda.com.
About Banjo & Matilda
Banjo & Matilda, Inc., Banjo & Matilda is an Australian premium lifestyle brand, famous for our contemporary women's cashmere. Inspired by the iconic Bondi Beach surroundings of its creative studios, Banjo & Matilda launched its first knitwear collection in 2008. Big on quality, small on pretence, and known globally for their fun statement sweaters and luxury cashmere basics, Banjo & Matilda is discreetly luxurious, yet able to capture the essence of beach culture in a range of apparel made with supreme quality and integrity. The brand has a rapidly growing loyal global following, is quickly being stocked in major and specialty retailers around the world, and is sold through its online store www.banjoandmatilda.com.
Additional information about Banjo & Matilda can be found at the Company's corporate website: http://www.banjoandmatildainvestors.com.
Forward looking Statement
Certain matters discussed in this press release are 'forward-looking statements' intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. In particular, the Company's statements regarding trends in the marketplace, growth in the number of stores that will carry its products, increases in its sales and financial results, are examples of forward-looking statements. Forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to, economic trends and conditions, trends in the fashion and retail industries, the acceptance of new product designs, inherent discrepancy in actual results from estimates, projections and forecasts made by management and other factors not within the Company's control The factors discussed herein and expressed from time to time in the Company's filings with the Securities and Exchange Commission could cause actual results and developments to be materially different from those expressed in or implied by forward looking statements made by the Company. The forward-looking statements contained herein are made only as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
CONTACT: Banjo & Matilda Market Street Investor Relations LLC Ben Macpherson Stan Abiassi / 877-218-9173 Chief Executive Officer Managing Member email@example.com firstname.lastname@example.org Source:Banjo & Matilda, Inc.