News Release
After February IPO, Functional Fashion Firm Perfect Moment Targets Growth And Expansion In Ski Wear And Other Categories, Launches First U.S. Distribution Center
Benzinga
By Meg Flippin, Benzinga From Deer Valley’s slopes to Saint Mortiz's chalets, skiing skills aren’t the only thing on display. So is high fashion as ski enthusiasts strut their stuff in luxury jackets, pants, knitwear and accessories. It's not just fashion for the sake of fashion – advancements in fabric technology are improving the comfort and functionality of ski wear, driving demand in a market that’s forecast to be over $2 billion by 2032. Perfect Moment Ltd. (AMEX: PMNT), the luxury skiwear and lifestyle brand, aims to meet that demand with its line of jackets, pants, suits and apparel. The heritage luxury brand, which has been outfitting skiers and swimmers for decades, went public on the New York Stock Exchange in February, raising $8 million in gross proceeds. The Perfect Moment brand was created in 1984 by Thierry Donard, the professional skier and extreme sports filmmaker, who began making apparel for his team of free-ride skiers and surfers. The company shares that the designs stood out for their quality, style and performance, helping his athletes achieve what he called a perfect skin run, wave ride or otherwise that perfect moment. The designs were known for combining high-end performance with daring, bold prints and colors. Even today, the brand draws on its decades-long commitment to using performance garments and statement designs in its ski, swim and lifestyle outerwear and apparel. The company says its retro-inspired prints and bold color palettes complement technical fabrics to deliver fashion, form and function for women, men and children. Expansion To Fuel Growth Perfect Moments' roots are in performance ski wear, but the company is expanding into new categories and markets, which it says should fuel its growth in the years to come. Take its line of apparel and accessories designed for customers off the slopes. Its lifestyle brand includes sweaters, pants and jackets, while its accessories include hats, gloves, scarfs, bags and ski goggles. Even in the ski category Perfect Moments is expanding, launching lighter jackets designed to extend the ski season. The company is also forging new partnerships to build brand awareness in the U.S. and beyond. Take its recent deal with Johnnie Walker, the scotch whiskey distiller, for starters. The two teamed up to launch a limited-edition Johnnie Walker Blue Label Ice Chalet. Unveiled by Johnnie Walker Blue Label ambassador and Perfect Moment shareholder actress Priyanka Chopra Jonas, the new blend comes with a bottle and bag designed by Perfect Moment and inspired by the so-called Blue Hour when skiing is done and socializing commences. Perfect Moment also launched a capsule ski wear collection for both women and men, featuring coordinating designs, which have been inspired by the Johnnie Walker Blue Label Ice Chalet design. Previously the company also collaborated with the high-fashion brand, Hugo Boss. Over the years, the two teamed up to launch a line of softshell ski jackets and pants in Perfect Moment’s hallmark flared cut and insulating all-in-ones. The last capsule featured designs that can be worn beyond the slopes, such as turtleneck slogan sweaters, knit hoodies and thermal tops. Coordinating accessories from gloves and beanies to bags and eyewear round out the collaboration. Perfect Moment also collaborates with SoHo House, the international private members club, hosting ski days and winter markets that get the word out about its brand. Expanding Retail And Distribution Presence Key partnerships aren’t the only way Perfect Moment seeks to capitalize on the growth of ski wear and winter apparel. With estimates compiled by Perfect Moment forecasting the luxury outerwear market to reach $23.8 billion by 2031, growing at a CAGR of 7%, it is expanding its retail and distribution presence in the U.S. In early October, Perfect Moment opened its first U.S.-based warehouse and distribution center in Dallas, Texas. Operated in partnership with Quiet Platforms, a provider of strategically located fulfillment centers and last-mile delivery solutions, Perfect Moment said the facility has been designed to better facilitate and optimize the company’s order fulfillment and distribution across North America. With it, Perfect Moment said customers will have access to new shipping options, including two-day and overnight delivery, which was not previously practical from the company’s global center in the U.K. The company said the warehouse should contribute to an overall margin improvemen t for fiscal year 2025 ending in March. Perfect Moment also recently opened its first seasonal store in New York City’s famed SoHo district, highlighting its Autumn/Winter 2024 (AW24) collection along with a number of new styles. The AW24 collection, which comprises four collection stories and launched in October, fuses performance materials with its signature style and includes the company’s best-selling styles, such as its Aurora ski pants and Polar Flare jacket, and several new styles. The company said the seasonal store provides an opportunity for it to explore more permanent retail locations. Currently, Perfect Moment’s lines of outerwear and apparel are featured in high-end department stores and online. Skiing is more than a sport; for many it's a fashion opportunity both on the slopes and in the lodges. Perfect Moment has been capturing that for years and now as a newly publicly traded company, is in expansion mode, bringing its luxury and accessible brand to more consumers via its retail store in New York City and its partnerships with well-known brands. Featured photo by Urban Vintage on Unsplash. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com
November 22, 2024 09:30 AM Eastern Standard Time
Image
News Release
