Panache Beverage, Inc. Announces New Supply Agreement for Wodka Vodka; Increasing Gross Profit 11%; Projects Record Fourth Qu...
November 20 2012 - 7:50AM
Marketwired
Panache Beverage, Inc. (OTCQB: WDKA), an alcoholic beverage company
specializing in the development, global sales and marketing of
spirits brands, is pleased to announce that it has formalized a new
supply agreement for Wodka Vodka with a Polish partner. The move
will result in a cost savings, increasing the gross profit for
Wodka Vodka by over 11%. The new distillery partner also produces
the grain making Wodka Vodka one of the only value vodkas with the
status of an artisan, field to bottle, brand.
"The distillery change was an important strategic move for the
future of the Wodka Vodka business," explained Panache CEO James
Dale. "Increasing margin for the brand while solidifying our
quality for value proposition was critical as we look at the things
we need to do to make Wodka Vodka a 1 million case brand."
The change in supplier created a business interruption in the
third quarter resulting in only 14% of projected goods sold in that
quarter. With the new distillery shipping in Q4, Panache is
forecasting a record fourth quarter for Wodka Vodka shipping 200%
of its projection for the fourth quarter. Wodka Vodka is still on
track to reach its 2012 volume numbers.
About Panache Beverage, Inc.
Panache Beverage, Inc. (OTCQB: WDKA) based in New York, NY is an
alcoholic beverage company specializing in the development, global
sales and marketing of spirits brands. The Company's expertise lies
in the strategic development and aggressive early growth of its
brands establishing its assets as viable and attractive acquisition
candidates for the major global spirits companies. Panache intends
to build its brands as individual acquisition candidates while
continuing to develop its pipeline of new brands in to the Panache
portfolio. Panache's existing portfolio contains three brands:
Wodka Vodka (www.welovewodka.com), Alchemia Infused Vodka
(www.alchemiainfused.com) and Alibi American Whiskey
(www.alibiamerica.com).
For more information visit: http://www.panachespirits.com
Safe Harbor
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
(the "Act"). Additionally, words such as "seek," "intend,"
"believe," "plan," "estimate," "expect," "anticipate" "project" and
other similar expressions are forward-looking statements within the
meaning of the Act. Some or all of the events or results
anticipated by these forward- looking statements may not occur.
Further information on Panache Beverages' risk factors is contained
in its filings with the Securities and Exchange Commission,
including the Form 10-KSB for the year ended December 31, 2011 and
the Form 10-QSB filed June 30, 2011. Panache Beverage does not
undertake any duty nor does it intend to update the results of
these forward-looking statements.
Investor Contact: Gerald Kieft The WSR Group 772-219-7525 (tel)
IR@theWSRgroup.com www.wallstreetresources.net/panache.asp
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