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Wednesday, June 29 2016

Universal Apparel & Textile Company (DKGR:OTC) is pleased to provide a corporate update. In 2014, Universal Apparel  Company  (Illinois) was bought by Drake Gold Resources Inc.,  a publicly traded company. Mr. Mahabubul Kabir was appointed as the CEO and ran all aspects of the company since then. All previous officers and directors  of Drake Gold have resigned with  no involvement with the company whatsoever. Universal  Apparel  Company is a vertical manufacturer , importer and distributor of textiles, apparels  and accessories. Since the company’s core business is apparel and textile,  in 2015, Drake Gold changed its name to reflect the focus of its main asset  and the ensuing direction of the company.

Since Mr. Kabir became CEO, Universal Apparel has had continuous growth with  profits.  In addition, it  finished both 2014 and 2015 with  positive cash flows. This growth and profitability is expected to continue.

In 2015,  In an attempt to diversify our asset base  in areas outside our core business of textiles, Universal Apparel signed an acquisition agreement with Newealth US Inc.,  an Arizona company,  with multi-divisions and multi product lines. By mutual consent, the acquisition was cancelled.

Universal Apparel  has  strategically selected Bangladesh for production. In the  global manufacturing environment for textiles,  Bangladesh has the lowest cost of labor.  The demand for our products is greater than it has ever been. Some factories in Bangladesh are working  on our products exclusively.

Universal Apparel continues  to manufacture our products in outsourced  factories in Bangladesh which add to our costs and flexibility. In 2016, we plan to buy a medium sized  manufacturing facility in Bangladesh to remain competitive.

Universal Apparel is also planning on revamping our ladies’ product lines. Primarily we will focus on junior tops and stretch denim jeans. Gradually we will introduce other lines of ladies’ products.

Market research showing  online  retail sales  is growing in popularity. In 2016, Universal Apparel is planning on  having an online retail clothing store to sell high end PK polo shirts and washed  denim jeans. This will generate additional revenue for the company.

In addition to acquiring a new facility, Universal Apparel intends to increase its sales force. It is in  negotiations with a number of entities in the West Coast  of the U.S.  for a joint venture. As a result, it will hire several sales  and marketing  personnel  in the Los Angeles and New York area.

Soon Universal Apparel will have its corporate office in Aurora, IL. Aurora is 30 miles west of downtown Chicago. It is in final stages of  negotiation   with a real state company and will have a new corporate address soon.

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

Posted by: M Kabir AT 09:14 am   |  Permalink   |  Email

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Universal Apparel and Textile Company

311 Division Street Carson City, Nevada 89703