LOS ANGELES, CA - (Feb 25, 2014) - Bitzio (OTCQB: BTZO), a fashion acquisition company operating under the trade name Democratique, announced today a memorandum of understanding to acquire majority ownership in Cleo VII, Inc. a jewelry design company.
Inspired by the handcrafted jewelry made by local artisan women in Peru, Cleo VII, Inc. Jewelry Design was founded by Owner and CEO, Angie Daza, in 2011 with the goal of bringing their unique jewelry products to a global marketplace.
Working with native materials such as silver, gold, and gemstones, Cleo's designs are 100% crafted by women for women. Their signature item, a fashionable toe-ring anklet is representative of their popular collection ranging from simple pendant necklaces to impressive collar masterpieces.
"Our artisans live in villages where there are high levels rural poverty, females trail behind men in levels of literacy, and a widespread lack of access to jobs that offer a wage that allows them to sustain a reasonable standard of living," says Ms. Daza. "By offering their goods to the global commerce market, they can produce and sell at quantities that allow them to support their families, obtain an education for their children and enjoy some medical care."
Ms. Daza has held numerous executive leadership positions in the private sector showing her ability to execute on all her projects. Most recently, Ms. Daza organized a national medical product to be imported from India to Colombia. These specialty medical supplies are now in the process of being distributed nationwide in hospitals across Colombia. Ms. Daza has also led in the acquisition of pipe lines for oil drain fields in The United States in conjunction with Venezuela.
"Cleo is Democratique's third acquisition and first accessory company broadening our brand portfolio." said Gordon McDougall, Democratique CEO and Director. "With the assistance of the Democratique staff and resources, Cleo is primed to succeed. The products are amazing and our first task will be to increase their visibility and brand awareness."
Mr. McDougall went on to say, "Cleo is the perfect example of conscience capitalism. Customers know that when they purchase a Cleo product, they are not only getting a beautiful, quality, handmade, product but that they are supporting the artisan making the jewelry and not a sweat-shop overseas. Cleo's model demonstrates how jewelry design can be linked to a wider-social conscience."
Democratique (www.democratiquela.com) is a business accelerator model that acquires emerging apparel brands just past the start-up stage, pairs them with a talented team of experienced apparel industry experts, and equips them with the resources needed to take their brands to the next level.
In only three months, Democratique has enhanced their first two acquisitions, E-Motion Apparel and Sahaja, by gaining a broader exposure in the marketplace, defining distribution channels and ultimately increasing sales. These brands have since gained serious traction in the marketplace as a direct result of their work with Democratique.
Mr. McDougall continued, "Cleo 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."
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.
For Investor and Media Inquiries:
SOURCE: Bitzio, Inc.