M2 PRESSWIRE-3 June 2008-Stockwire.com: CHAT LIVE in the only dedicated CHAT ROOM for (OTC:DLCR) David Loren Corp. shareholders!(C)1994-2008 M2 COMMUNICATIONS LTD
RDATE:03062008
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(OTC:DLCR) David Loren Corp.
Tuesday June 3, 6:00 am ET
BEVERLY HILLS, Calif., June 3 - David Loren Corporation , a company engaged in the design, production and wholesale merchandising of quality clothing to major department stores, mass merchants, specialty chains and direct-to-consumer merchants, is pleased to issue a letter to its shareholders from David Loren, its Chief Executive Officer, providing an overview of recent developments.
To David Loren Corporation Shareholders,
As CEO of your company, I would like to take this opportunity to report to you, our shareholders, on the progress we have made over the past several months. This is a very exciting time for David Loren Corporation as we advance toward achieving the milestones we have targeted for 2008.
As most of you are aware the retail industry appears to be in a period of consolidation and restructuring leaving the manufacturing side of the business with an ever-shrinking list of merchant customers. In order to respond to and take advantage of the changing nature of the retail landscape we too have changed our business model. I am very pleased to announce that our own restructuring is complete and that the retail merchants we have targeted are responding well. We have been successful in expanding our vendor relationships with some of the top tier retailers in the country and we have done this in what we consider to be record time.
One of the most exciting aspects of the Company's restructuring and expansion is that we have established relationships with a Shanghai fabric mill and an experienced Hong Kong production team, enabling David Loren Corporation to function as a fully vertical operation. This is a major milestone for the Company since in the current economic climate many of the major retailers prefer to deal only with companies who have a vertical operation. Since "going vertical" we are receiving inquires from retailers about both product development and our production capability and capacity.
Even as we add retailers to our customer base, David Loren Corporation is expanding product development and production into other product categories and additional store departments including men's wear. Merchants are able to select from products in a variety of classifications and fabrications best suited for their needs and then begin the process of development to production.
We continue to do production in Mexico for a leading international specialty retailer that operates more than 3,100 stores worldwide. David Loren-produced dresses have been sold through one of the retailer's four branded chains in the United States, Canada, Japan and the Orient; we are currently in production for a second chain and hope to add a third in 2008. David Loren Corporation is very proud that we have been successful in maintaining a 100% performance rate in production for this retailer to date.
I appreciate the continued support and loyalty of our shareholders and I remain dedicated to taking necessary steps to build and maintain shareholder value. I am very excited about the Company's potential for growth in 2008 and 2009 and look forward to communicating all of David Loren Corporation's new developments and accomplishments to the investment community and the general public.
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