Business
iFabric Corp Announces Launch of "Verzus All" Apparel Brand and New Orders
MARKHAM, ON / ACCESSWIRE / October 27, 2022 / Hylton Karon President and CEO of iFabric Corp...
About this update from Ifabric Corp.
[{"type":"text","content":"iFabric Corp Announces Launch of \"Verzus All\" Apparel Brand and New OrdersMARKHAM, ON / ACCESSWIRE / October 27, 2022 / Hylton Karon President and CEO of iFabric Corp. (\"iFabric\" or the \"Company\") (TSX:IFA)(OTCQX:IFABF), today provided an update on the Company's new brand launch and new orders for its swimwear products.\"I'm pleased to announce the launch of our new direct-to-consumer brand - VERZUS ALL. The brand was developed to showcase the dynamic range of our class-leading fabric technologies, applied to premium and luxury fabrics. The VERZUS ALL range of products was designed by our talented in-house design team and is manufactured by our production partners in Asia,\" said Hylton Karon, President and CEO of iFabric. \"VERZUS ALL products are being marketed on-line at our newly launched website at www.verzus.com as well as through our first company-branded retail location - at the 140-store Markville Shopping Centre near to our head offices in Markham, Ontario, Canada. Such direct-to-consumer sales provide the highest margin point for iFabric products,\" added Mr. Karon.\"I'm also pleased to report on the status of initial orders for iFabric swimwear produced pursuant to the license agreement that was announced on June 1, 2022. Confirmed orders by major retailers currently total approximately CAD $3.2 million, with initial deliveries scheduled to commence during the second quarter of 2023. As we continue selling the swimwear category, I would anticipate that revenue growth will continue throughout 2023 and beyond,\" concluded Hylton Karon.ABOUT iFABRIC CORP:Headquartered in Markham, Ontario, iFabric, www.ifabriccorp.com, is listed on the TSX and currently has 29.6 million shares issued and outstanding. Its two strategic divisions offer a variety of products and services through wholly-owned subsidiaries, namely, Intelligent Fabric Technologies (North America) Inc. (\"IFTNA\") and Coconut Grove Pads Inc. (\"Coconut Grove\").IFTNA is focused on development and sale of high-performance sports apparel, medical protective apparel, consumer protective apparel, and proprietary treatments that provide \"intelligent\" properties to fabrics, foams, plastics, and numerous other surfaces, thereby improving the safety and well-being of the user. Such intelligent properties include antiviral and antibacterial characteristics, wate...