NEW YORK, NY--(Marketwire - March 06, 2013) - Panache Beverage, Inc. (WDKA), an alcoholic beverage company specializing in the development, global sales and marketing of spirits brands, today announced Record Revenues for its Fourth Quarter and Full Year Ended December 2012. Revenue for the fourth quarter exceeded $2 million driven by strong growth in vodka sales as well as over $600 thousand in revenue generated from the recently launched Alibi American Whiskey.
Revenue for the fourth quarter ended December 31, 2012 is in excess of $2 million, up nearly 200% from just under $700 thousand in 2011. Revenue for the full year 2012 is in excess of $3 million up over 50% from just under $2 million in 2011. Full financial results will be released when the Company files its 10-K by the end of March 2013.
James Dale, Chief Executive Officer of Panache Beverages, stated, "After solving a supply chain disruption in the third quarter we closed the fourth quarter and full year with strong results. We move into 2013 well capitalized and positioned for significant growth in all three portfolio brands including Wodka Vodka, Alibi American Whiskey and Alchemia Infused Vodka."
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About Panache Beverage, Inc.
Panache Beverage, Inc. (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.alchemiainfusions.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 September 30, 2012. Panache Beverages does not undertake any duty nor does it intend to update the results of these forward-looking statements.