LAS VEGAS, Jan.12, 2022 /PRNewswire/ -- Nitches Inc.,(NICH) (the "Company") a designer and manufacturer of high-end clothing and accessories, today announced it is honoring the company's long history and impact in the clothing industry with several employee events. Nitches was founded in 1973 by Arjun C. Waney, who grew up in Bombay, India. He came to the United States to study at the University of California, Berkeley. Shortly, after graduation he began importing blouses and shorts from India to sell primarily to college students. Waney and a minority partner later established Beeba's Creation, a San Diego apparel importer and wholesale distributorship. The company name was changed te Nitches in 1995.
Beeba's Creation grew rapidly in the early 1980s with major customers including JCPenney, Walmart and Ross Stores. In 1985, the company went public and established Body Drama, a subsidiary specializing in sportswear-inspired intimate apparel. Body Drama was later spun off as a public company in 1991. In 2009, after years of declining sales, Nitches filed to revoke its registration as a publicly traded corporation. In 2021, a private investor took control of Nitches and retained the company's name to honor its legacy.
"We are inspired by Nitches' history. From its humble beginnings to its success as a multi-million-dollar, publicly traded company, Nitches remained committed to high-quality manufacturing and dedicated customer service," said John Morgan, Nitches' current CEO. "We want to build on that legacy by creating exclusive capsule collections with celebrities and influencers that capture the luxury athleisure wear market. Our goal for investors is to expand quickly and return to the Nasdaq Stock Market."
A PCAOB auditing firm recently completed a two-year audit of Nitches. The audit results are available at https://www.otcmarkets.com/stock/NICH/disclosure.
In addition, Nitches is completing two capsule collections for Nick Cooper, superstar vocal coach from American Idol, and John Lewis, the BadAss Vegan. The limited-edition, luxurious hoodies, hats, joggers and shorts will be available for sale on Nitches' website later this month.
About Nitches Corporation
Nitches is a high-end clothing and accessories company that specializes in creating limited-edition athleisure and streetwear apparel that are sustainable, authentic and exclusive. We collaborate with fashion-forward influencers and celebrities to create capsule collections that reflect their vision and brand. We developed innovative technology to protect our intellectual property and prevent counterfeiting. We strive for creativity, excellence and value in all that we do for our collaborators, customers and stakeholders.
Forward Looking Statements:This press release contains forward-looking statements. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Factors or events that could cause our actual results to differ may emerge, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
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