LOS ANGELES, CA –February 20, 2014- Bitzio (OTCQB: BTZO), a fashion acquisition company operating under the trade name Democratique, announced today a letter of intent to acquire the designer luxury brand Sahaja.
Sahaja, from the Sanskrit "spontaneous, natural," creates soft and intricate garments spun from the finest yarns available. Sahaja's designs are inspired by the iconography and pattern work of cultures from around the world, reimagined with a modern sensibility.
Sahaja was founded by apparel industry veteran Serge Berliawsky, former designer at fashion mogul Current/Elliott, in 2009 in Los Angeles, California. Sahaja's expertly crafted, cashmere, wool, and other knitted garments have been sold at Barney's New York, Maxfield LA, and numerous other luxury retailers throughout North America, Europe and Asia. Their line includes women's and men's sweaters, scarves, hats, blankets, and other knitted accessories. With the joint efforts of the Democratique team, Sahaja is in the process of expanding their line across multiple local and international retailers, lowering costs, increasing their margins and accessing a wider audience of buyers at a diversified price point. Jump starting the brand's expansion, Sahaja has been invited to exhibit at Coterie, the most exclusive women's fashion fair in New York City, February 23-25.
"Sahaja is Democratique's second apparel acquisition which not only strengthens our brand portfolio, it further develops our sales, marketing and manufacturing channels," said Gordon McDougall, Democratique CEO and Director. "By working closely with Sahaja's designers, our Democratique staff can effectively augment the progress already made by their team."
McDougall went on to say, "The quality of Sahaja's garments is extraordinary and they are reinventing what we think of as knitwear."
"As a small brand, we have poured our focus into the quality of our garments. The team at Democratique understands this and has helped us expand our reach without losing that attention to the quality of our products," says Sahaja's president Serge Berliawsky. "This relationship has bolstered our visibility and allowed us to offer a more widely-accessible pricing structure, leading up to our exhibition at Coterie in New York City this month."
Democratique (www.democratiquela.com) is a business accelerator model that 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.
In only three months, Democratique has enhanced their first acquisition, E-Motion Apparel, by leading a complete rebranding effort, assembling a team of sales reps, and defined distribution channels. The brand has since gained serious traction in the marketplace as a direct result of their work with Democratique.
Mr. McDougall continued, "Sahaja is the next step for Democratique along its path towards other successful acquisitions. We are excited to see our business model being applied to numerous brands and are confident that we will see the growth not only for ourselves but for our shareholders."
To view the Sahaja apparel line, visit www.sahajacashmere.com and coming soon, www.sahajaknits.com.
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 with 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.
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 acquisition of E-Motion Apparel 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.
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SOURCE: Bitzio, Inc.