FBC Holding, Inc. (FBCD) Makes Progress to Triple its Apparel Production for Multinational Companies

Rhea-AI Summary

FBC Holding, Inc. (OTC PINK:FBCD) announced plans to triple its apparel production through its subsidiary, Formrunner Apparel Inc. This increase in production is driven by high demand from multinational companies, particularly in the high-end apparel sector. CEO Lisa Nelson highlighted the opportunity for substantial revenue growth as the company expands its connections with international clients. The U.S. fashion industry is projected to reach $494.89 billion by 2023, showcasing a robust market environment for the company.

Positive

• Plans to triple apparel production due to high demand.
• Expansion into multinational markets.
• Potential for explosive revenue growth reported by CEO.

Negative

• None.

SCOTTSDALE, AZ / ACCESSWIRE / June 1, 2022 / Today FBC Holding, Inc. (OTC PINK:FBCD) through its wholly owned subsidiary, Formrunner Apparel Inc. is pleased to announce that the company is currently in the process of tripling its Apparel Production for multinational companies.

FBC Holding, Inc. is currently ramping up its production of Apparel at a fast rate due to such high demand from other companies that Formrunner made connections with following the Las Vegas Fashion Show a couple of months prior. These multinational companies the company is doing business with are in the High-End Apparel sector located in the United States along with other countries that want to purchase enormous amounts of Formrunner Apparel. President & CEO Lisa Nelson states, "This is a huge opportunity to bring in an explosive amount of revenue accompanied by growth as we continue to connect and collaborate with more companies who want to spread Formrunner Apparel around the world and bring our clothing to the next level!" Lisa Nelson also stated, "FBC Holding, Inc. is always doing whatever it takes to be ahead of other competitors overall. We will keep our beloved shareholders updated every step of the way as we continue to expand and grow."

As one of the top online shopping categories among consumers, it should come as no surprise that the US fashion industry size is huge. In fact, it's currently valued at hundreds of billions of dollars. The sales figures for 2022 are forecast at $473.42 billion. This represents a fashion industry growth rate of 8.3 percent from 2021's figures. The fashion industry growth rate this year, though relatively high, is still a slowdown from the previous year. In 2021, the industry grew at 18.4 percent, the fastest rate in the forecast period from 2019 to 2023. This also came after the steep fall in the US fashion industry sales in 2020, during which sales tumbled 21.9 percent and marked a more than $100 billion loss from 2019. This plunge is the result of the coronavirus pandemic, which has affected both the US fashion industry growth rate and sales figures. The closure of brick-and-mortar fashion retailers in compliance with local coronavirus regulations meant a fall in visitors and, subsequently, sales. Cutbacks by consumers on inessential items and an increased focus on household essentials also contributed to the negative US fashion industry growth rate in 2020. The US fashion industry sales are, however, expected to rebound from 2021 onwards. Total sales for 2023 are forecast at $494.89 billion, a 4.5 percent annual increase.

About Formrunner Apparel Inc.

Formrunner Apparel Inc. is a wholly owned subsidiary of FBC Holding, Inc. Formrunner Apparel Inc. carries a variety of Top-Notch Streetwear & Accessories located in Scottsdale, Arizona. Formrunner can be viewed and bought on the Company's website at www.formrunnerapparel.com

Twitter: https://www.twitter.com/FormrunnerTM
Instagram: https://www.instagram.com/Formrunner

IR Contact:

info@formrunnerapparel.com

Forward-Looking Statements

Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See FBC Holding, Inc filings with OTC Markets, which may identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.

Safe Harbor Statement

This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking.

SOURCE: FBC Holding, Inc.

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FAQ

What is FBC Holding, Inc. (FBCD) announcing?

FBC Holding, Inc. is announcing a plan to triple its apparel production through its subsidiary, Formrunner Apparel Inc.

Why is FBC Holding increasing its apparel production?

The increase in production is due to high demand from multinational companies after connections made at the Las Vegas Fashion Show.

What potential revenue growth does FBC Holding expect?

CEO Lisa Nelson mentioned the opportunity for explosive revenue growth as the company collaborates with more international partners.

How large is the U.S. fashion industry expected to be in 2023?

The U.S. fashion industry is projected to reach $494.89 billion by 2023.

What category does Formrunner Apparel Inc. operate in?

Formrunner Apparel Inc. operates in the high-end apparel sector.