Victory Capital Holdings Corporation announced that its wholly owned subsidiary, L&M Resources Inc., has acquired the sales and distribution rights for the Reebok Retro Sports Tee Shirt line for all of Mexico and South America.
“This sales and distribution agreement is an important step for L&M Resources as it gives us a fresh line of products that are internationally recognized and smartly positioned in a fast growing market segment. Vintage looking apparel is hot, and we have aligned ourselves with a manufacturer that is aggressively marketing and promoting this niche,” stated Martin Barrack, President of L&M Resources Inc. “This first agreement opens the door for additional territories and the start of a long term business relationship. Over the many years of operating in this industry, we have made dozens of key contacts with sales and manufacturing groups around the world with whom we can now start working to produce and market a variety of lines of apparel.”
L&M is conservatively forecasting $2 million in sales in these markets in the first 12 months with orders commencing in the next few weeks. L&M is further revising its first year total sales revenue upwards to $6 million.
Jon Fullenkamp, Chairman & CEO of Victory Capital Holdings Corp. added, “This is an exciting opportunity for L&M as we are able to offer a high quality, world-wide recognized product line to our existing sales contacts in Mexico and South America.”
