Panache Beverage Inc. (PN) (USOTC:WDKA)
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5 Years : From Jun 2011 to Jun 2016
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
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.
The WSR Group