DANS....DANS was on the move today. It's up from a .55 -.65 trading range the last several weeks to an intra day high of 1.03 today. Something is up. It may have to do with their new women's portal and e-commerce site which is supposed to go on line this quarter. I think DANS could be a real mover. Read the following along with all of their latest news from their web site at danskin.com.
Danskin, Inc. Announces "Next Paradigm in Retail E-Commerce"
Will Leverage Strong Brand to Establish Women's Portal
New York ð September 23, 1999 - Danskin, Inc. (DANS:BBOTC) has announced plans to construct an Internet portal that will be the "next paradigm in retail e-commerce," according to Donald Schupak, Chairman of the Board.
Danskin is among the first major brands launching e-commerce ventures, and the first to do so by pioneering a brand-sponsored Internet presence that involves establishing a community, in addition to creating a new retail outlet. Much more than a merchant site, the Danskin Internet portal will foster a community of active women, offering news and information on women's participatory activities, such as athletics, dance, yoga, fitness and exercise; hotlinks to related sites; and chat rooms. Event sponsors will post news of events for women to attend or participate in, providing schedules and on-line registration. Danskin, its licensees, and non-affiliated vendors will offer an array of quality goods and services for sale.
Danskin is in discussion with strategic and venture capital partners with respect to the project. In addition, the company is in the process of a $20 million equity financing, the proceeds of which will be used for working capital and to finance the first phase of the Internet project. Danskin will launch the initial phase of the site in the first quarter of 2000, and expand the site throughout the year.
Danskin's e-commerce debut will get a leg-up from its strong brand awareness (better than 80% among women) and high placement (25th) among all apparel in the Fairchild 100 brand ranking. The well-established Danskin brand brings an estimated $50 million+ value to the Internet venture, as the company will be able to reduce the time and expense related to building awareness and attracting traffic to the site.
"Off-line marketers who figure out how to leverage the strength of their brands have a huge advantage in attracting online shoppers," says Seth Alpert, Managing Director at AdMedia Partners, an investment banking firm in New York, where he specializes in Internet businesses.
Danskin's sponsorship of an Internet portal for active women is a natural, given its 100+ year history as a manufacturer of quality women's apparel, and its role as a leader and innovator in women's participatory sports. The Danskin Women's Triathlon, a six-city series of triathlon events now in its 10th year, is the only series of multi-sport races for women in the world.
"No one understands women's active lifestyle better than Danskin," says Carol Hochman, President & CEO of Danskin, Inc. The company made its name by outfitting dancers, migrated to activewear, and is now expanding into Everywear?, which incorporates the best elements of activewear and casualwear. "Our Internet portal will reflect the insights we've gained over 100 years of serving a single target market: active women."
Danskin points to the success of women-focused media, such as women's magazines, Oprah, Lifetime TV, and iVillage as an indication that the market is ripe for a Danskin Internet portal for women.
"This Internet strategy will not only drive Danskinûs apparel revenues through e-commerce and drive branding through features," says Schupak. "It will produce extraordinary independent value as a women's community, with e-commerce products and services related to women's activities."
Schupak leads Danskin into e-commerce without trepidation. His previous accomplishments include converting 7th Level, Inc. from a producer of CD-ROM games to the leading on-line learning site now known as Learn2.com (LTWO: NASDAQ). Under Schupak's chairmanship, Learn2.com grew explosively from a company with a market capitalization of $18 million to $200 million within 16 months. Schupak was also the architect of Hanover Direct's transformation from a $5 million company to a direct marketing powerhouse with $500 million in revenue.
Danskin, Inc. markets and manufactures leading brands of women's activewear and dancewear under the Danskin©, Danskin Plus©, Danskin Packables? and Zen Sport? from Danskin trademarks and legwear under the Danskin©, Givenchy©, and Round the Clock© trademarks. Pennaco Hosiery, a division of Danskin, Inc. is a manufacturer of private label hosiery sold in department and fine specialty stores. For store locations, consumers may call 1-888-DANSKIN. |
