Perfect Moment and United Repair Centre Join Forces to Launch New Repair Service, ‘Perfect for Longer,’ Across UK and Europe

Rhea-AI Summary

Perfect Moment (NYSE American: PMNT) has partnered with United Repair Centre to launch 'Perfect for Longer,' a new bespoke repair service for customers across UK and Europe. The service offers replacement zips, poppers, discreet patching, and clean & refresh service for down items, with repairs completed within seven days. This initiative builds upon Perfect Moment's recent introduction of rental and resale options, demonstrating the company's commitment to sustainability. The service is available to customers who purchased directly through Perfect Moment's website or authorized stockists, with a free trial offered for the fall and winter 2024 season.

Positive

• Launch of new revenue stream through repair service
• Expansion of sustainability initiatives with rental, resale, and repair options
• Free trial offering for fall/winter 2024 season to drive customer adoption

Negative

• Service to UK and European markets only
• Restricted to direct and authorized stockist purchases

Insights

Market Research Analyst

This partnership with United Repair Centre represents a strategic move into the circular fashion economy but has minimal immediate financial impact. While the free trial period may drive customer engagement and brand loyalty, the service's long-term revenue potential is given Perfect Moment's small market cap of $14.4M. The repair service aligns with industry sustainability trends and could marginally reduce new purchase frequency, though it may enhance brand value and customer retention. For a luxury brand, repair services typically account for less than 5% of revenue. This initiative, while positive for brand positioning, is unlikely to significantly move the needle on PMNT's financial performance in the near term.

LONDON--(BUSINESS WIRE)-- Perfect Moment Ltd. (NYSE American: PMNT), the high-performance, luxury skiwear and lifestyle brand that fuses technical excellence with fashion-led designs, has partnered with United Repair Centre to offer a new bespoke repair service for Perfect Moment customers, Perfect for Longer.

"We're thrilled to be partnering with the iconic luxury ski wear brand, Perfect Moment,” said United Repair Centre CEO, Thami Schweichler. “Through our people-focused repair initiative, we're ensuring that high-quality moments last even longer. With United Repair Centres' premium service, your favorite ski wear is ready for another season of adventure.”

The launch of the new repair service demonstrates Perfect Moments’ commitment to sustainability and builds upon its recent introduction of rental and resale options.

“Our pieces are made to be part of life’s most memorable moments, and extending their lifespan is a natural next step,” stated Perfect Moment co-founder and creative chief officer, Jane Gottschalk. “With Perfect for Longer, we’re offering our customers a way to preserve their favorite ski wear while reinforcing our ongoing commitment to a sustainable way of living, today and moving forward.”

In addition to providing replacement zips, poppers and discreet patching, United Repair Centre also offers a clean & refresh service for down items. The service is available to UK and European customers who have purchased directly through the Perfect Moment website or an authorized stock list. For a limited time, the company is offering a free trial of the service for the fall and winter 2024 season.

Driven by Perfect Moment’s dedication to prioritizing the moments that matter, the service is designed to be swift, with garments repaired within seven days.

About United Repair Centre

A unique social enterprise, United Repair Centre provides a circular-meets-social solution to both the clothing and labor industries. They offer employment and training in high-level garment repair to marginalized communities and in turn, extend the life of garments and reduce textile waste. For more information about United Repair Centre, visit unitedrepaircentre.com.

About Perfect Moment

The Perfect Moment brand was born in 1984 in the mountains of Chamonix, France. The Perfect Moment brand was relaunched by Max and Jane Gottschalk in 2012 and was acquired by the company in 2017 and 2018. Perfect Moment is a high-performance luxury skiwear and lifestyle brand. It blends technical excellence with fashion-forward designs, creating pieces that effortlessly transition from the slopes to the city, the beach, and beyond.

Initially the vision of extreme sports filmmaker and professional skier Thierry Donard, the brand was built on a sense of adventure that has sustained for over 20 years. Donard, fueled by his personal experiences, was driven by a desire to create pieces that offered quality, style and performance, pushing the wearer in the pursuit of every athlete’s dream: to experience ‘The Perfect Moment.’

In 2012, British-Swiss entrepreneurial couple Jane and Max Gottschalk took ownership of the brand. Under Jane’s creative direction Perfect Moment was injected with a new style focus, one that reignited the spirit of the heritage brand, along with a commitment to improving fit, performance and the use of best-in-class functional materials. As such, the designs evolved into distinct statement pieces synonymous with the brand as we know it today.

Today, the brand is available globally, online and via key retailers, including MyTheresa, Net-a-Porter, Harrods, Selfridges, Saks, Bergdorf Goodman and Neiman Marcus.

Learn more at www.perfectmoment.com.

Important Cautions Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based on our current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ from those contained in the forward-looking statements, include those risks and uncertainties described more fully in the section titled “Risk Factors” in the final prospectus for our initial public offering and in our Form 10-K for the fiscal year ended March 31, 2024, filed with the Securities and Exchange Commission. Any forward-looking statements contained in this press release are made as of this date and are based on information currently available to us. We undertake no duty to update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241203781028/en/

Company Contact

Jeff Clayborne, CFO

Perfect Moment

Tel (315) 615-6156

Email contact

Investor Contact

Ronald Both or Grant Stude

CMA Investor Relations

Tel (949) 432-7566

Email contact

Source: Perfect Moment Ltd.

FAQ

What is Perfect Moment's (PMNT) new repair service called?

Perfect Moment's new repair service is called 'Perfect for Longer'

What services does Perfect for Longer offer for PMNT customers?

The service offers replacement zips, poppers, discreet patching, and clean & refresh service for down items

How long does Perfect Moment's (PMNT) repair service take?

The repair service is designed to be completed within seven days

Where is Perfect Moment's (PMNT) Perfect for Longer service available?

The service is available to customers in the UK and Europe who purchased through Perfect Moment's website or authorized stockists