Carson City, NV & Hong Kong, Oct. 19, 2017 (GLOBE NEWSWIRE) -- 12 Retech Corporation (OTC: RETC) announced today that in conjunction with its acquisition of Active Fashion Group it will be bringing on Kirk Kimerer as its Chief Marketing Officer, a new position for the Company.
Mr. Kimerer comes from the digital media industry, bringing over 25 years of experience from Gannett, Belo Interactive, Scripps, Maverick Media, LIN TV, Las Vegas Review Journal, and Apollo Media Network where he oversaw digital media operations as Division President. At 12 Retech, Kimerer will take responsibility for strategic marketing and product innovation with the mission of advancing 12 Retech’s digital marketing capabilities. He will report directly to Angelo Ponzetta, 12 Retech’s Chief Executive Officer.
"For 12 Retech Corporation, which is “Leading the Profitable Convergence of Traditional and Online Commerce Through Technology©”, Mr. Kimerer with his digital marketing experience and knowledge of the programmatic advertising landscape is a natural fit," said Angelo Ponzetta. "We have been working with Mr. Kimerer for a few months now in a consulting arrangement and are impressed by how his vision matches our own. We appreciate his depth of experience and are so inspired by his hard work that we decided to make his role a permanent one."
Mr. Kimerer stated, "I'm tremendously impressed with 12 Retech's management team, its progressive model and vision of the convergence of traditional and online commerce."
Mr. Kimerer also commented on Active Fashion Group:
“There will be a great opportunity to take their B2B apparel brands, with excellent quality and production cost points that are among the best in the industry, and grow their B2C channel. We have seen other brands in the category produce first year operations of greater than $5 million in e-commerce revenue. Today Active Fashion Group sells less than $500,000 annually through its e-commerce channel. We plan to quickly and profitably grow that direct to consumer business to $6 million or more in 2018 revenues. Other groups using digital media best practices are producing high double-digit annual growth rates which, when compounded over a few years, are able to achieve greater than $50 million sales levels per year. With Active Fashion Group, we plan to execute in a similar manner!”
Daniel Monteverde, the Company's CFO added, "I am pleased that we were able to obtain Mr. Kimerer's services. His disciplined approach, coupled with the resources that I will commit to his marketing efforts, will help us significantly expand our B2C channel once AFG is acquired. The direct to consumer channel will enjoy higher margins than we can earn selling to established retailers. As a side note, the brand awareness generated by these efforts should also help us move our B2B efforts forward."
Mr. Ponzetta concluded with, "Mr. Kimerer’s recruitment is the latest in a series of moves by 12 Retech which we believe will lead to the profitable convergence of traditional and online retail channels. By combining consumer brands, digital content and retail technology the Company is building a best-in-class buying experience that should foster a deeper level of engagement with consumers."
About 12 Retech Corporation:
12 Retech Corporation (OTC: RETC) is “Leading the Profitable Convergence of Retail and Online Commerce through Technology©”. The Company currently has three subsidiaries: 12 Hong Kong Limited, 12 Japan Limited and 12 Retail Corporation.
12 Retech Corporation manages our licensed technologies and is the developer, installer and operator of the proprietary technologies used in the Unifying Shopping eXperience System (“USXS”) hosted on the 12 Mirror (our interactive electronic mirrors) and the 12 Kiosk (our interactive digital displays) which can be installed in any high-traffic location and enhanced through our 12 Mobile-App. All the Company's products are uniquely designed to bridge the convergence between physical and virtual Commerce by getting consumers back out to the brick and mortar shopping centers and malls, to enjoy the next level of shopping experiences utilizing their smart phones with the 12 Mobile-App, with our in-store technologies and/or our online technologies which allow consumers to purchase products directly from videos posted online. Our technologies are created to build loyal repeat customers for our brand partners the world over. When our interactive products are placed in high-traffic locations like train stations, bus stops, airports, shopping venues and others, they provide media awareness with the ability for consumers to make purchases anywhere. 12 Retech Corporation operates through three subsidiaries; the technology development company 12 Hong Kong Limited, the operating subsidiary 12 Japan Limited which deploys our products and 12 Retail Corporation which will hold our future consumer brands and retail operations.
12 Retail Corporation is a USA Company that is the only vertically integrated company that uses all our technology to enhance Commerce through all channels. We design, manufacture, import, export, sell online, have retail boutiques and will sell to big box retailers. With our direct experience in all aspects of Commerce we are uniquely positioned to understand the convergence of Online and Retail as well as the issues with their implementation. This allows 12 Retech Corporation to design and provide solutions that stay ahead of the market and solve potential implementation challenges.
For more information visit our website at www.12retech.com.
12 Retech Corporation is publicly traded in the United States on the OTC Markets under the symbol: RETC
Safe Harbor: This document contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the ability of the Company to successfully implement its turnaround strategy, changes in costs of raw materials, labor, and employee benefits, as well as general market conditions, competition and pricing. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this letter will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as representation by the Company or any other person that the objectives and plans of the Company will be achieved. In assessing forward-looking statements included herein, readers are urged to carefully read those statements. When used in the Annual Report on Form 10-K, the words "estimate," "anticipate," "expect," "believe," and similar expressions are intended to be forward-looking statements.