Universal Apparel & Textile Company is pleased to announce that it has purchased Newealth US, Inc., a company that “Empowers and Mobilizes Consumers and Merchants from All Walks of Life NOW.”
Mr. Kabir and Universal Apparel presently produce multiple lines of cost effective, value driven and high quality clothing for the US market, manufactured from its overseas facilities. However, Universal Apparel is still in need of greater US brand recognition and market positioning. As a result, the purchase of Newealth, a company known for its marketing expertise, specifically supporting the growing African American community, will help Universal Apparel to effectively develop products, building brands and capturing a substantial market share of the “Forgotten Dollar.” Newealth’s direct marketing and hands on approach in the inner cities and urban areas is targeting and anticipates serving over 8 million of the 43 million African Americans in the United States, home of the “Forgotten Dollar” as CEO of Newealth Eugene Turner likes to call it. Newealth, along with Universal Apparel, will tap into the $1.2 Trillion of African American buying power, $803 Billion in earning power and over $25 Billion spent in the last year by members of this target market on apparel alone. Mr. Turner calls this synergy, “Love at first site” as Newealth can now provide their own goods to its large African American clientele through direct manufacturing and sales, coupled with job training and placement programs. Very few marriages exist whereas both parties get exactly what they were looking for.
With over $5 million in assets, Newealth has interests in real estate; multiple vineyards; an eco-RV development and USDA labeled natural beef and pork products with an associated processing facility; 7,000 acres of grazing lease and deeded pasture with 400 acres of vineyard farm land with an overly abundant geo-thermal water supply, to support a nationally acclaimed grower and winery; and a multi-agricultural remote controlled (sunlit sliding roof), “grow facility,” engineered for patenting.
Updates will be forthcoming.
This release includes forward-looking statements, which are based on certain assumptions and reflects management’s current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise