LOS ANGELES, CA / ACCESSWIRE / February 27, 2015 / Bitzio Inc. (BTZO) announces that its wholly owned subsidiary, Lexi-Luu Designs Inc. (www.lexiluu.com) closed today on its acquisition of SkipJack Dive & Dancewear Inc. (www.skipjackdnd.com)
H. Blanchette, CEO of Bitzio and its subsidiaries, said that, "We are excited to have completed this transaction. Skipjack adds an innovative niche apparel brand our portfolio, and is an important step in our plan to develop emerging fashion brands and markets." SkipJack is for both men and women seeking comfort and functionality in high-quality, swimwear. Additionally, SkipJack also offers modest and plus size swimwear styles, a consumer market that represents a gap in the industry.
Skipjack also owns a cut & sew factory. The manufacturing facility acquisition now enables Bitzio to centralize production of all of its brands while reducing production costs by leveraging operational synergies and economies of scale. The transaction also creates valuable opportunities for additional revenue by subcontracting cut & sews services for private labels and external brands.
About Bitzio, Inc.
Bitzio, Inc. (BTZO) develops and supports emerging fashion brands.
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