NEW YORK, June 28, 2012 (GLOBE NEWSWIRE) -- Omni Ventures, Inc. (OTCQB:OMVE), a leader in consumer brands and owner of PRVCY Couture, Inc., is pleased to announce that the PRVCY Couture brand will be entering the Chinese Luxury Market, an emerging market place valued at over $33 Billion per year.
The Company has begun target marketing efforts to segments within the luxury markets in China, and intends to launch an e-commerce website by the end of 2012 in Chinese while also developing partnerships for fulfillment centers in Asia. With 300,000 millionaires and climbing, China is on pace to become the world's second-biggest buyer of luxury goods by 2015.
The site will feature the PRVCY Couture "Made in Hollywood" brand targeting the Chinese luxury retail market which has almost tripled in value in the last five years. Major luxury names such as Burberry, Armani, PPR, LVMH, Richemont, Polo Ralph Lauren, Hermes, Prada, Bulgari and Christian Dior are fast becoming well-known brands in Asia, and Omni intends to capitalize on the double digit projected growth.
The Company noted that Bruno Lannes, head of Bain's Consumer Products and Retail Practice in Greater China and lead author of the 2011 China Luxury Market Study commented that "In less than five years, the Chinese consumer has transformed from a niche emerging market to a core target for global luxury brands."
Affluent consumers are returning to premium brands, and those with newfound wealth are discovering them for the first time with forecasts that the market will grow 65% between 2010 and 2015 in the overall Asian luxury market with a projected value of $91 Billion by 2020.
Newly appointed fashion industry guru, Deepak Ramchandani, who is the Chief Executive Officer of Omni Ventures, noted that, "Research has indicated that luxury goods look set to be the fastest growing consumer category in China over the next five years, with a 25% compound annual growth rate against general consumption at 11%. Given rising incomes and supportive social factors, Chinese customers are to account for 44% of global luxury sales by 2020, implying a market size of USD$91 billion by 2020. And exciting to the PRVCY Couture brand is that Chinese demand is expected to account for 44% of the global luxury goods market."
About Omni Ventures
Omni Ventures, Inc. is the owner of PRVCY Couture, Inc., the casual couture apparel and accessories design, manufacturing and distribution company (www.prvcypremium.com) with the "Made in Hollywood" brand. The Company is in various stages of developing several related projects in the fields of consumer goods design, manufacturing and distribution as well as consumer services. For more info, please visit www.omve.net
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities, and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company's business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company's periodic filings with the Security and Exchange Commission. You should carefully review the information disclosed within the section entitled "Risk Factors" contained in the Company's Current Report on Form 10Q/A filed on February 15, 2012, as well as the information contained in this release, when assessing the Company and its business. The Company undertakes no obligation to update any forward-looking statements.
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