Xsovt Brands, the developers of an entirely new paradigm in footwear via the Xsovt™ brand that combines a novel approach to design and construction of the product with an emphasis on fashion forward style, high quality and comfort, reported today that the Company’s stock will begin trading on the OTCBB under the ticker XSVT (formerly RXBD).
Xsovt is a newly formed entity (Jan. 26, 2011) created when the Company (formerly RxBids) acquired the Oceanside, NY-based Xsovt, LLC; at which time Xsovt founder, Avi Koschitzki, acquired a controlling interest and became Chairman, President and CEO.
Accompanying the ticker change is a legal change of name to Xsovt Brands, Inc. and a reverse 1 for 12 split of the Company’s shares of common stock. The goal of all this activity is to take the exciting technology and comfort design genius of Xsovt and push it forward with the launch of a new footwear line.
The innovative synthesis of style and comfort into high end-comparable footwear at a competitive price is a perfect vector for Xsovt, and the Company will showcase the ingenious incorporation of technology into every stage of the design process with the upcoming “Crossover line”.
Xsovt will debut offerings at two major upcoming industry trade shows, the WSA Show (Today, Feb. 7) and Magic (Feb. 14) in Las Vegas, where professionals from all across the industry will be on hand with hopes to espy preciously such a hot ticket as the Xsovt line.
Koschitzki hailed these moves as a clear indicator that the Company is moving into the next step of a planned phase of rapid growth, a phase of growth which will form a solid platform for the overall launch of the brand and also serve as impetus for the total realization of shareholder return and sector dominance objectives set in the business plan.
The first public appearance of Xsovt’s engaging products at the WSA and Magic shows will generate substantial industry buzz and create further momentum as the Company continues constructing a world-class management team and consultant architecture that will drive the superiority of the product boldly into the consumer space.
Previous examples of Xsovt management’s expertise are evident in prior engagements with premier hotels, resorts and luxury retailers like the Bellagio and Neiman Marcus. The core business and branding philosophy forged via such earlier work has come to define Xsovt’s corporate culture where growing shareholder value, excellence and an unwavering dedication to customer service are paramount.