Latest news with #PerfectMomentLtd
Associated Press
01-04-2025
- Business
- Associated Press
Perfect Moment Announces $6.4 Million Series AA Convertible Preferred Stock Private Placement
Perfect Moment Ltd. (NYSE American: PMNT) ('Perfect Moment' or the 'Company'), the high-performance luxury skiwear and lifestyle brand, today announced that it has closed a private placement financing of approximately $6.4 million of its newly created 12% Series AA Convertible Preferred Stock. The 1,723,989 shares of Series AA Convertible Preferred Stock are convertible into shares of common stock at a fixed price of $1.1601 per common share. Participants in the offering include Max Gottschalk, co-founder and chairman of Perfect Moment, who personally invested $2.0 million, reflecting his continued confidence in the company's new leadership team and long-term growth strategy. Other investors include institutional investors as well as Kahala19, LLC, who invested a further $2.0 million in the new offering. Kahala also converted its previously issued $2.0 million convertible promissory note into common stock at its original $1.00 per share conversion price. As a result of the conversion, Perfect Moment has eliminated all convertible debt outstanding. The Company intends to use the net proceeds to support strategic growth initiatives, working capital, and general corporate purposes. ThinkEquity LLC acted as placement agent in connection with the private placement. Manatt, Phelps & Phillips, LLP represented the Company and Sichenzia Ross Ference Carmel LLP represented the placement agent. Strategic and Operational Momentum The investment follows the recent appointment of a new executive leadership team—comprising seasoned operators from Canada Goose—underscoring investor conviction in Perfect Moment's long-term strategic direction. In a short time, the new team has launched a comprehensive transformation program focused on operational efficiency, sustainable growth, and brand elevation. Key initiatives already underway include structural cost reductions across the supply chain and corporate functions, enhanced gross margin discipline through improved sourcing and pricing strategies, and more agile inventory and channel management. These efforts are delivering tangible results while building a scalable foundation for growth. At the same time, the organization is doubling down on its brand-building agenda. With strong alignment between creative and commercial functions, Perfect Moment is focused on expanding its product architecture, accelerating global omnichannel reach, and deepening engagement with its customer base. 'This is a defining moment for the brand,' said Perfect Moment's President and Chief Creative Officer, Jane Gottschalk. 'We've always had a clear vision—to create technically beautiful pieces that merge performance with fashion, and speak to a lifestyle that's bold, active, and expressive. Now, with the right leadership team and infrastructure in place, we believe we finally have the platform to scale that vision globally. It's incredibly energizing to see the business and brand aligning with such momentum.' Key Terms of the Offering Each share of Series AA Preferred Stock is convertible into five shares of the Company's common stock at the option of the investor, at an initial conversion price of $1.1601 per share, subject to customary adjustments. Beginning six months after the closing date, the Company may require conversion of the Preferred Stock if its common stock trades above 200% of the then conversion price, with average daily volume exceeding 200,000 shares for 20 out of 30 consecutive trading days, subject to certain conditions. The Series AA Preferred Stock will pay cumulative cash dividends on each share of Series AA Preferred Stock at an annual rate of 12.00% and is not redeemable. The Series AA Preferred Stock is non-voting, except as required by applicable law. The Company has agreed to file a resale registration statement with the U.S. Securities and Exchange Commission covering the resale of the shares of common stock underlying the Series AA Preferred Stock. Please refer to the Company's forthcoming Current Report on Form 8-K for the complete terms of the transaction, which is filed with the Securities and Exchange Commission and made available at Securities Law Disclosure The securities sold in the private placement have not been registered under the Securities Act of 1933, as amended (the 'Securities Act'), or any state securities laws, and are being issued and sold in reliance upon exemptions from registration under Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D. These securities may not be offered or sold in the United States absent registration or an applicable exemption from registration under the Securities Act. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful. About Perfect Moment LTD. Perfect Moment is a high-performance luxury skiwear and lifestyle brand that blends technical excellence with fashion-forward designs, creating pieces that effortlessly transition from the slopes to the city, the beach, and beyond. The brand was born in 1984 in the mountains of Chamonix, France, relaunched by Max and Jane Gottschalk in 2012, and acquired by the company in 2017 and 2018. Initially the vision of extreme sports filmmaker and professional skier Thierry Donard, the brand has been built on a sense of adventure which it has sustained for more than 20 years. Fueled by his personal experiences, Donard was driven by a desire to create pieces that offered quality, style and performance, pushing the wearer in the pursuit of every athlete's dream: to experience 'The Perfect Moment.' In 2012, British-Swiss entrepreneurial couple Jane and Max Gottschalk took ownership of the brand. Under Jane's creative direction Perfect Moment was injected with a new style focus, one that reignited the spirit of the heritage brand, along with a commitment to improving fit, performance and the use of best-in-class functional materials. As such, the designs evolved into distinct statement pieces synonymous with the brand as we know it today. Today, the brand is available globally, online and at major retailers, including MyTheresa, Net-a-Porter, Harrods, Selfridges, Saks, Bergdorf Goodman and Neiman Marcus. Perfect Moments' global luxury ski apparel market is expected to reach $1.7 billion in 2024 and grow at a compound annual growth rate (CAGR) of 6.2% through 2033, according to Business Research Insights. Its expanding market for luxury outerwear is expected to reach $17.9 billion in 2024 and grow at a 6.7% CAGR through 2033, reports Business Research Insights. Learn more at Forward-looking Statements This release contains forward-looking statements that relate to expectations or forecasts of future events. Forward-looking statements may be identified by the use of words such as 'expect', 'anticipate', 'believe', 'may', 'will' and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements include statements relating to our use of proceeds from the transaction. Forward-looking statements are based on current expectations that are subject to known and unknown risks and uncertainties, which could cause actual results or outcomes to differ materially from expectations expressed or implied by such forward-looking statements. These factors include, but are not limited to, risks and uncertainties described in the Company's filings with the Securities and Exchange Commission, including Item 1A (Risk Factors) of the Company's Form 10-K for the year ended March 31, 2024 and its subsequently filed periodic reports. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Although it may voluntarily do so from time to time, the Company undertakes no commitment to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. CONTACT: Company Contact Julie Robinson, Brand Director Perfect Moment Tel +44 7595178702 Email contact Investor Contact Ronald Both or Grant Stude CMA Investor Relations Tel (949) 432-7566 Email contact KEYWORD: UNITED KINGDOM EUROPE INDUSTRY KEYWORD: FASHION RETAIL SKIING/SNOWBOARDING SPORTS LUXURY CONSUMER WOMEN SOURCE: Perfect Moment Ltd. Copyright Business Wire 2025. PUB: 04/01/2025 08:31 AM/DISC: 04/01/2025 08:32 AM
Associated Press
24-03-2025
- Business
- Associated Press
Perfect Moment Wholesale Bookings up 30% for New Autumn/Winter 2025 Luxury Ski & Outerwear Collection
Perfect Moment Ltd. (NYSE American: PMNT), the high-performance, luxury skiwear and lifestyle brand that fuses technical excellence with fashion-led designs, has booked $12.7 million in wholesale preorders for its upcoming Autumn/Winter (AW) 2025 collection. The level of orders already exceeds all of the wholesale orders the company generated for last year's AW collection by 30% and represents the largest wholesale book in the company's history (excluding collaborations). Wholesale revenue comprised about 58% of the total net revenue in the company's previous fiscal year ended March 31, 2024. The newly booked wholesale orders are from both new and existing wholesale customers, with most existing customers expanding upon their year-ago levels. This growing strength in wholesale has been driven by the company's focus on global brand elevation and strategic expansion. Over the last few months, the company has engaged several top-tier regional sales agencies to grow its brand presence across North America, UK, Europe and Asia. The agencies have focused on expanding Perfect Moment's wholesale distribution to luxury retailers and exclusive boutiques. The company's key retail and e-commerce channels are also demonstrating strengthening performance, with increased full-price sell-through and reduced discounting supporting expanded margins. 'Our strong pre-season performance highlights the growing strength of our Perfect Moment brand,' noted Rosela Mitropoulos, the company's head of business development. 'It shows how the several strategic steps we've made over recent months has significantly expanded our presence in key global markets.' The global expansion will include a greater presence in key retail locations, with store openings and partnerships in Switzerland, Turkey, and Germany, as well as continued investment in targeted activations, including luxury pop-ups in London and Dubai. These initiatives have also helped to advance the company's expansion into the larger and faster-growing luxury outerwear market, broadening its brand appeal from the slope to the city and extending its traditional fall/winter selling season to throughout the year. To take this performance to even greater heights, the company recently announced the strengthening of it production and senior management teams with key hires from Canada Goose. The group contributed to the rapid growth of Canada Goose (NYSE, TSX: GOOS), a leading peer in the luxury outerwear market with revenues up 48% over the past four years, topping C$1.3 billion in FY2024. The team is now looking to deliver a similar growth trajectory for Perfect Moment. Chath Weerasinghe, the company's new CFO and COO who recently joined from Canada Goose, commented: 'Our strengthened ability to maintain premium pricing while reducing discounting has been a key major achievement. It reflects the stronger demand for Perfect Moment at full price and the effectiveness of our commercial strategy.' The company announced last week the completion of a multi-channel global co-marketing campaign in collaboration with Diageo (NYSE:DEO), the $61 billion industry leader in beverage alcohol and producer of Johnnie Walker, the world's #1 Scotch Whisky. The company's new U.S. distribution center has improved the customer experience while reducing duties and outbound and return shipping cost for the U.S. market. All of the company's U.S. ecommerce revenue now flows through the new center, with U.S. wholesale revenue to begin running through it by September. The brand's creative direction and product innovation remain key to its growth, along with continued investment in exclusive collaborations and curated collections. 'Perfect Moment continues to set new standards, not just in high-performance design but in how we connect with customers globally,' noted company president and chief creative officer, Jane Gottschalk. 'The momentum we are seeing in both retail and digital channels reflects our brand's growing influence.' 'We will continue to strengthen our presence in core markets while expanding selectively into new regions,' added Gottschalk. 'Sustained demand combined with our disciplined approach will help ensure our continued success in a market that is set for rapid growth.' Perfect Moment's skiwear offerings address the high-growth global luxury ski apparel market which reached $1.7 billion in 2024 and is projected to grow at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2033, according to Business Research Insights. The company also now taps the growing luxury outerwear market that was estimated to total $17.9 billion in 2024 and forecasted to increase at a 6.7% CAGR from 2024 to 2033, according to Business Research Insights. About Perfect Moment Perfect Moment is a high-performance luxury skiwear and lifestyle brand that blends technical excellence with fashion-forward designs, creating pieces that effortlessly transition from the slopes to the city, the beach, and beyond. The brand was born in 1984 in the mountains of Chamonix, France, relaunched by Max and Jane Gottschalk in 2012, and acquired by the company in 2017 and 2018. Initially the vision of extreme sports filmmaker and professional skier Thierry Donard, the brand has been built on a sense of adventure which it has sustained for more than 20 years. Fueled by his personal experiences, Donard was driven by a desire to create pieces that offered quality, style and performance, pushing the wearer in the pursuit of every athlete's dream: to experience 'The Perfect Moment.' In 2012, British-Swiss entrepreneurial couple Jane and Max Gottschalk took ownership of the brand. Under Jane's creative direction Perfect Moment was injected with a new style focus, one that reignited the spirit of the heritage brand, along with a commitment to improving fit, performance and the use of best-in-class functional materials. As such, the designs evolved into distinct statement pieces synonymous with the brand as we know it today. Today, the brand is available globally, online and at major retailers, including MyTheresa, Net-a-Porter, Harrods, Selfridges, Saks, Bergdorf Goodman and Neiman Marcus. Learn more at Important Cautions Regarding Forward-Looking Statements This press release contains 'forward-looking statements' within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as 'anticipate,' 'believe,' 'contemplate,' 'could,' 'estimate,' 'expect,' 'intend,' 'seek,' 'may,' 'might,' 'plan,' 'potential,' 'predict,' 'project,' 'target,' 'aim,' 'should,' 'will' 'would,' or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based on our current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ from those contained in the forward-looking statements, include those risks and uncertainties described more fully in the section titled 'Risk Factors' in the final prospectus for our initial public offering and in our Form 10-K for the fiscal year ended March 31, 2024, filed with the Securities and Exchange Commission. Any forward-looking statements contained in this press release are made as of this date and are based on information currently available to us. We undertake no duty to update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise. CONTACT: Company Contact Julie Robinson, Brand Director Perfect Moment Tel +44 7595178702 Email contactInvestor Contact Ronald Both or Grant Stude CMA Investor Relations Tel (949) 432-7566 Email contact KEYWORD: UNITED KINGDOM EUROPE SOURCE: Perfect Moment Ltd. Copyright Business Wire 2025. PUB: 03/24/2025 08:31 AM/DISC: 03/24/2025 08:32 AM
Associated Press
26-02-2025
- Business
- Associated Press
Perfect Moment Co-Founder and Chairman Purchases 51,000 Shares of Company Stock in the Open Market
Perfect Moment Ltd. (NYSE American: PMNT), the high-performance, luxury skiwear and lifestyle brand that fuses technical excellence with fashion-led designs, reported that its co-founder and chairman, Max Gottschalk, has increased his ownership in the company through a series of open market purchases. The purchases were reported in a Form 4 filed with the U.S. Security and Exchange Commission (SEC). According to the filing, on February 25, 2025, the chairman acquired 51,000 shares of the company's common stock, bringing his beneficial ownership with co-founder and president, Jane Gottschalk, to approximately 4.1 million shares or 24.3% of the shares outstanding. 'These recent personal purchases reflect my great confidence in the future of Perfect Moment, its new leadership and phenomenal growth potential,' stated Gottschalk. 'I'm especially encouraged by the company's continued expansion from its strong base in luxury performance skiwear into the broader, faster-growing global luxury outerwear market.' This expansion has included the recent introduction of new year-round products across new categories designed to complement the company's current Fall/Winter lineup as well as its anticipated Summer 2025 Collection. These products are expanding the brand's appeal from the slope to the city and extending the selling period to throughout the year. The company has also made a series of strategic moves designed to drive growth and expansion of its brand presence across global markets. It opened seasonal retail stores in New York and London and engaged several new top-tier sales agencies strategically located around the world. The company's new U.S. distribution center has lowered delivery costs, expanded margins and improved customer experience. Most recently, the company appointed new senior leadership who have driven growth for other major luxury brands. It also completed the first phase of a multi-channel global co-marketing campaign in collaboration with Diageo (NYSE:DEO), the $61 billion global leader in beverage alcohol and producer of Johnnie Walker, the world's #1 Scotch Whisky. 'These many positive developments further strengthen my belief in our strategic direction and that we have the right team in place to take the company to the next level,' added Gottschalk. 'As such, I plan to opportunistically make additional open market purchases as conditions permit.' Details of Perfect Moment stock purchases by management are available in the company's filings with the SEC at About Max Gottschalk Gottschalk is a strategic investor and global fund manager who has traded, seeded and invested in multiple companies over the past 25 years. This includes extensive experience in venture capital and private equity, where he has successfully backed, operated and exited a number of ventures, including Faena Group, Everlane, Vita Coco and Good Catch. He also helped lead Perfect Moment's IPO on the NYSE American Stock Exchange in April of last year. Gottschalk is presently the founding partner at Ocean 14 Capital, a private equity fund with a mission of protecting our oceans through strategic investment. He is also a co-founding partner at Vedra Partners, a multi-family office based in London and Switzerland. In 1998, Gottschalk co-founded Gottex Fund Management, a global asset manager which he brought public on the Swiss Stock Exchange in 2007 at a market cap of US$2.2 billion. He currently serves as its EMA CEO. He earlier headed sales for Bear Stearns' fixed income derivatives hedge fund based in New York. He earned his business degree in finance, marketing and international business from the University of Virginia, graduating with honors. He returned to University of Virginia as a visiting professor to teach a course on Impact Investing. About Perfect Moment The Perfect Moment brand was born in 1984 in the mountains of Chamonix, France. The Perfect Moment brand was relaunched by Max and Jane Gottschalk in 2012 and was acquired by the company in 2017 and 2018. Perfect Moment is a high-performance luxury skiwear and lifestyle brand. It blends technical excellence with fashion-forward designs, creating pieces that effortlessly transition from the slopes to the city, the beach, and beyond. Initially the vision of extreme sports filmmaker and professional skier Thierry Donard, the brand was built on a sense of adventure that has sustained for over 20 years. Donard, fueled by his personal experiences, was driven by a desire to create pieces that offered quality, style and performance, pushing the wearer in the pursuit of every athlete's dream: to experience 'The Perfect Moment.' In 2012, British-Swiss entrepreneurial couple Jane and Max Gottschalk took ownership of the brand. Under Jane's creative direction Perfect Moment was injected with a new style focus, one that reignited the spirit of the heritage brand, along with a commitment to improving fit, performance and the use of best-in-class functional materials. As such, the designs evolved into distinct statement pieces synonymous with the brand as we know it today. Today, the brand is available globally, online and at major retailers, including MyTheresa, Net-a-Porter, Harrods, Selfridges, Saks, Bergdorf Goodman and Neiman Marcus. Perfect Moments' global luxury ski apparel market is expected to reach $1.7 billion in 2024 and grow at a compound annual growth rate (CAGR) of 6.2% through 2032, according to Business Research Insights. Its expanding market for luxury outerwear is expected to reach $17.9 billion in 2024 and grow at a 6.7% CAGR through 2032, reports Business Research Insights. Important Cautions Regarding Forward-Looking Statements This press release contains 'forward-looking statements' within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as 'anticipate,' 'believe,' 'contemplate,' 'could,' 'estimate,' 'expect,' 'intend,' 'seek,' 'may,' 'might,' 'plan,' 'potential,' 'predict,' 'project,' 'target,' 'aim,' 'should,' 'will' 'would,' or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based on our current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ from those contained in the forward-looking statements, include those risks and uncertainties described more fully in the section titled 'Risk Factors' in the final prospectus for our initial public offering and in our Form 10-K for the fiscal year ended March 31, 2024, filed with the Securities and Exchange Commission. Any forward-looking statements contained in this press release are made as of this date and are based on information currently available to us. We undertake no duty to update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise. CONTACT: Company Contact Julie Robinson, Brand Director Perfect Moment Tel +44 7595178702 Email contactInvestor Contact Ronald Both or Grant Stude CMA Investor Relations Tel (949) 432-7566 Email contact KEYWORD: UNITED KINGDOM EUROPE SOURCE: Perfect Moment Ltd. Copyright Business Wire 2025. PUB: 02/26/2025 08:31 AM/DISC: 02/26/2025 08:32 AM
