Charles Lesser, Former CFO of True Religion Apparel, to Lead Smack Sportwear's Expansion Strategy
TORRANCE, CA -- (Marketwire) -- 02/20/13 -- Smack Sportswear (OTCBB: SMAK) ("Smack"), the leading brand of custom team and beach active apparel, announced today that its newly appointed Chief Financial Officer, Charles Lesser, will leverage his success as the former CFO of True Religion Apparel, Inc., to direct Smack's expansion strategy. Among his duties, Lesser is responsible for raising additional capital and increasing investor awareness on behalf of Smack.
In 2003, Charles Lesser was appointed the first CFO of the premium jeans manufacturer True Religion Apparel, Inc. During his tenure, Lesser was instrumental in taking True Religion from a start-up venture to a NASDAQ-listed firm trading under the symbol "TRLG." At the time of his departure in 2007, True Religion's sales topped over $160 million and its market capitalization rose to $500 million.
"With Lesser heading up our financing activities, I believe Smack can achieve profitable growth by expanding into new markets, increasing e-commerce sales and securing additional licensing agreements on an international basis," said Bill Sigler, President and CEO of Smack.
"Much like True Religion was during my tenure, Smack is carving its niche as a unique brand in the apparel market. Since 2003, Smack has grown its core business, has no debt and all investment capital raised can be used for future growth. The Company is the #1 brand of beach volleyball apparel, and has licensing agreements with numerous professional sports teams and associations to fuel its expansion strategy in 2013. Also sales have spiked from Smack's appearance on ABC's hit TV show 'The Bachelor' in January, where over 30 million people viewed the stars of the show Sean and the Bachelorettes sporting Smack gear while playing volleyball in Malibu. We expect this sales momentum to continue," said Lesser.
Prior to True Religion, Lesser was an officer at various private and public companies including Weider Sporting Goods. During his three year tenure as CFO of Weider, revenues grew 300% and profitability increased fivefold. Lesser holds a B.A. degree from the University of Pittsburgh and an MBA from the University of the Witwatersrand.
About Smack Sportswear
Smack Sportswear ("Smack") is the leading brand of custom designed team and beach active apparel, with its primary focus on volleyball. Smack manufactures its Southern California inspired apparel in its headquarters, only five miles from the hub of beach volleyball. This allows Smack to offer its customers world-class responsiveness, supply chain excellence, and unparalleled quality. Some of the top pros not only design, but also test, Smack products prior to distribution. Smack has licensing agreements with key organizations like USA Beach Volleyball, the AVP, the EVP, the NVL, the National Collegiate Sand Volleyball Association, the AAU, USYVL, and many others. For more information, visit www.SmackSportswear.com.
Included in this release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements will prove to have been correct. The company's actual results could differ materially from those anticipated in the forward-looking statements.