Podium Venture Group Inc. (PDVP), an apparel, media, and publishing holding company in the lifestyle sports industry announced today that Corduroy Surf Co. has selected and signed a 3-year term for its first retail storefront. The space is located in Portland, Maine - a growing city with strong roots in art, fashion, and an edgy, east coast surf scene.
"We have continued to work closely with Corduroy Surf Co. management in the past weeks to secure what we felt was the perfect space for the first retail storefront. Portland, Maine was the first decision made. We knew we (Podium) wanted the first retail space to be close to corporate headquarters for obvious reasons. Portland has a die-hard surf scene and Corduroy will enjoy 100% market share in the downtown area." - Jim McGinley, President & CEO, Podium Venture Group, Inc.
Mr. McGinley continues on the Corduroy Surf Co. vision:
"The model for Corduroy is to pioneer the urban surf lifestyle boutique - something not yet accomplished in the marketplace. The boutique model ensures a more intimate experience for the consumer, greater margins, less infrastructure and staffing, and thusly, less overhead per storefront than the average retail model. We are already working with retail space brokers in other identified cities to bring the second storefront in late 2007.
The closing of the majority acquisition of Corduroy Surf Co. as previously announced is scheduled for early May.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
Contact:
Podium Venture Group, Inc.
Jim McGinley, 207-772-3202
www.podiumventuregroup.com
Source: Podium Venture Group, Inc.
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