Company Anticipates Fourth Quarter Revenue from “Touch-Free” Private Shopping Experience
NEWPORT BEACH, Calif., Sept. 21, 2020 (GLOBE NEWSWIRE) -- DPW Holdings, Inc. (NYSE American: DPW) a diversified holding company (“DPW,” or the “Company”), announced today that its subsidiary, It’sLikeFashion.com, Inc. (“It’sLikeFashion”) https://www.ItsLikeFashion.com, a membership-only Ecommerce business, has successfully completed beta testing of its online platform. The Company stated it anticipates reporting revenue from It’sLikeFashion in the fourth quarter of 2020.
ItsLikeFashion.com offers household brand name and luxury items ranging from apparel, bags, purses, shoes and accessories, to linens, bedding and similar items at prices discounted up to 90% off retail prices. Members will be able to access a variety of luxury and brand name items directly through the website, https://www.ItsLikeFashion.com, or through their favorite online channels such as Facebook, Instagram, Twitter, Pinterest, YouTube and LinkedIn, providing a unique private shopping, touch-free, Covid-19 safe experience.
The Company is also leveraging the power of social media to conduct exclusive “pop-up” sales events with members receiving notification of the sale location no more than a few days prior to the event, in time for the 2020 holiday season. It’sLikeFashion anticipates that pop-up sales will take place over a one-to-four-day period. Members will typically be able to preview items days prior to the pop-up sale, contingent upon any local restrictions.
Membership is required and available now at https://www.ItsLikeFashion.com. Members will be able to purchase their selections online or in person, on a first-come first-served basis. Memberships cannot be shared between individuals.
Every year retailers in the U.S. send billions of pounds of unsold inventory to landfills or have them incinerated. Apparel returns in the U.S. create more than five billion pounds of waste each year and more than 15 million metric tons of carbon dioxide. Concerns over waste are growing as retailers bring more shoppers online, where the rate of returns is 25% compared to just 9% for in-store purchases. ItsLikeFashion.com has joined the fight to reduce the amount of excess inventory headed to landfills or incineration by providing manufacturers a more sustainable, “greener” alternative to liquidate their inventories.
For more information on sales, membership or other inquiries, please contact info@ItsLikeFashion.com.
About It’sLikeFashion.com, Inc.
It’sLikeFashion.com, Inc., is a Delaware corporation dedicated to bringing luxury and household name brand apparel, fashion accessories, linens, shoes and other textiles to consumers at greatly discounted pricing through its membership-only portal, https://www.ItsLikeFashion.com as well as branded third-party online sites in conjunction with its featured pop-up locations.
It’sLikeFashion.com, Inc., is a wholly owned subsidiary of DPW Holdings, Inc. It’sLikeFashion’s headquarters is located at 201 Shipyard Way, Suite E, Newport Beach, CA 92663.
About DPW Holdings, Inc.
DPW Holdings, Inc., the parent company of It’sLikeFashion.com, Inc. (the “Company”), is a diversified holding company pursuing growth by acquiring undervalued assets and disruptive technologies with a global impact. Through its wholly as well as majority-owned subsidiaries and strategic investments, the Company provides mission-critical products that support a diverse range of industries, including defense/aerospace, industrial, telecommunications, medical and textiles. In addition, the Company owns a select portfolio of commercial hospitality properties and extends credit to select entrepreneurial businesses through a licensed lending subsidiary. The Company’s headquarters is located at 201 Shipyard Way, Suite E, Newport Beach, CA 92663; www.DPWHoldings.com.
This press release contains “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the SEC including, but not limited to, the Company’s Forms 10-K and 10-Q. All filings are available at www.sec.gov and on the Company’s website at www.DPWHoldings.com.
IR@DPWHoldings.com or 1-888-753-2235