Joe’s Jeans Inc. (the “Company”) (NASDAQ: JOEZ) announced today that the Company has entered into a new multi-year international distribution arrangement with Advanced Retail for France. This international distribution agreement will supplement the Company’s existing distributors in the United Kingdom, Germany, Italy and Russia. In connection with this multi-year agreement, Advanced Retail will continue to operate the shop-in-shops in Galeries Lafayette and Printemps and will assume the Company’s office and showroom in Paris, France.
Marc Crossman, President and CEO, stated, “By moving to a distribution model, we will reduce corporate overhead and increase profitability while preserving international growth potential.” Crossman concluded, “We are excited about the future of our international business as we add Advanced Retail to our list of distributors.”
About Joe’s Jeans Inc.
Joe’s Jeans Inc. designs, produces and sells apparel and apparel-related products to the retail and premium markets under the Joe's® brand and related trademarks. More information is available at the company website at www.joesjeans.com.
This release may contain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. The matters discussed involve estimates, projections, goals, forecasts, assumptions, risks and uncertainties that could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. All statements in this news release that are not purely historical facts are forward-looking statements, including statements containing the words “intend,” “believe,” “estimate,” “project,” “expect” or similar expressions. Any forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to: the risk that the Company will be unsuccessful in gauging fashion trends and changing customer preferences; the risk that changes in general economic conditions, consumer confidence, or consumer spending patterns will have a negative impact on the Company’s financial performance or strategies; the highly competitive nature of the Company’s business in the United States and internationally and its dependence on consumer spending patterns, which are influenced by numerous other factors; the Company’s ability to respond to the business environment and fashion trends; continued acceptance of the Joe’s® brand in the marketplace; and other risks. The Company discusses certain of these factors more fully in its filings with the SEC and this release should be read in conjunction with all of the Company’s filings, made with the SEC through the date of this release. The Company urges you to consider all of these risks, uncertainties and other factors carefully in evaluating the forward-looking statements contained in this release.
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