Peekaboo Beans Launches In-Store Secondhand Resale Program
March 3, 2020 (Source) – Peekaboo Beans Inc. (CSE: BEAN) (OTCQB: PBBSF) (“Peekaboo Beans” or the “Company”) is excited to have launched the first phase of their secondhand resale program, known as “PK Replay,” in their flagship store location in BC. Customers are able to purchase Peekaboo Beans clothing secondhand along with new collections. Peekaboo Beans is embracing the opportunity to utilize the Secondhand market trend, as well as the high demand of their own product from previous collections, often referred to as “vintage” pieces in the Peekaboo Beans community, that are often sought after in resale social platforms and consignment stores. With the high quality and longevity of Peekaboo Beans clothing, being able to offer good quality secondhand pieces is perfect for reaching new and longstanding customers, as well as keeping clothing out of our landfills and having a positive impact on our environment. With secondhand market research showing growth at 21X faster than the retail apparel market over the last three years and expected to reach $51B by 2025, this is both an economic and environmentally exciting opportunity for the brand.
The next phases of the PK RePlay will include launching on their online platform to reach a bigger audience and develop and launch a buyback program to continue the lifecycle of clothing, revenue stream and relationships with customers.
“Nordstorm’s recently launched a similar program to this, as well as brands like Patagonia who have pioneered the secondhand market. Peekaboo Beans is a first mover in the children’s apparel space and can do this because of the quality and longevity of our product – it lasts through growth spurts and wash after wash. Brands are going to have to find ways to remain relevant to the environmentally savvy consumer,” states Traci Costa, Peekaboo Beans CEO.
About Peekaboo Beans Inc.
Peekaboo Beans is a children’s apparel brand with a focus on environmentally responsible clothes that are intentionally designed to inspire play. Through an omni-channel approach, Peekaboo Beans engages sellers through social platforms, including Instagram and Facebook, as well as online retailers, to maximize revenue and build brand loyalty. The Company works to promote a playful lifestyle for children by designing comfortable clothes that are built to last.
To learn more about Peekaboo Beans, visit: www.peekaboobeans.com.
On behalf of the Board of Directors,
Peekaboo Beans Inc.
Ms. Traci Costa, President and CEO
This news release may include forward-looking information that is subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking. Although the Company believes the expectations expressed in such forward-looking information are based on reasonable assumptions, such information is not a guarantee of future performance and actual results or developments may differ materially from those contained in forward-looking information. Factors that could cause actual results to differ materially from those in forward-looking information include, but are not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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