Wednesday September 5, 01:45 PM
EBTM cheers Green Day deal
LONDON (ShareCast) - Online fashion retailer EBTM (LSE: EBTM.L - news) edged ahead Wednesday after the company said it has entered into an
agreement with the clothing label created by the lead singer of rock bank Green Day.
The company will run an online store for Billie Joe Armstrong's Adeline clothing label and distribute Adeline products to wholesale suppliers in the UK.
"Its product range and marketplace are complementary to EBTM's existing business and the brand has already sold successfully on EBTM.com, having previously been imported direct from Rock Steady in the USA," said EBTM.
The deal gives the firm exclusive distribution rights to the brand in the UK and Spain with immediate effect.
"This is clearly another positive piece of news for EBTM and the deal will benefit revenues and bottom line," said broker Seymour Pierce.
It reiterated that the shares are not for 'widows and orphans', but that the firm is a "good speculative opportunity" and remains a 'buy' with 10p price target.
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