Profiled 3-2-00 at 1 3/8ths
Innovo Group Inc. designs, markets, manufactures and distributes fashion and sports licensed nylon and canvas products for the multi-billion dollar crafts industry and retail sector in the United States and Europe. Under licensing agreements, the Company's sports lines feature the designs of the NBA, NFL, Major League Baseball, Garfield, NHL, numerous collegiate teams, Walt Disney and Warner Brothers. Innovo also has certain exclusive and non-exclusive manufacturing and distribution rights for NASCAR licensed products.
KNOXVILLE, Tenn., Jan. 27 /PRNewswire/ -- Innovo Group Inc. (Nasdaq: INNO - news), a designer, manufacturer, marketer and distributor of various cut and sewn canvas and nylon consumer products for sale in the premium and specialty markets, today announced the addition of William Moore to the executive sales team. Moore will serve as the Vice President of Retail Sales for Innovo Group.
Moore will be responsible for initiating strategic marketing plans including merchandising; consumer rebates and price promotions; and national advertising. Moore will work closely with his sales team to increase profits and promote brand awareness.
``William will make an invaluable addition to our team,'' commented Jay Furrow, Chief Operating Officer of Innovo Group. ``His experience in managing national sales and marketing efforts will help Innovo expand its existing customer base as well as develop new customers within the retail industry.''
``The opportunities at Innovo are tremendous, and I'm excited to be joining such a rapidly growing, dynamic organization. I want to help continue the growth of Innovo's strength in our core markets,'' said Moore. ``One of my foremost objectives as vice president of Retail Sales will be to maximize the visibility and name recognition of the Innovo brand and its expanding product line.''
For the nine months ended 8/99, revenues rose 63% to $9.5 million. Net loss from continuing operations fell 98% to $15 thousand. Results reflect a $2.5 million sale to a national car rental company.
Market Capitalization $8.27M
Shares Outstanding 6.30M