Bergio International Announces Several Updates
June 20 2014 - 9:30AM
Marketwired
Bergio International Announces Several Updates
FAIRFIELD, NJ--(Marketwired - Jun 20, 2014) - Bergio
International, Inc. (OTCQB: BRGO) ("Bergio" or the "Company")
announces several updates.
During the period of May 30 to June 2, 2014, Bergio attended the
JCK Las Vegas Jewelry Show. Bergio developed a private label
program to be sold exclusively for wholesalers and small chain
retailers. The first order under such program was received for one
of the Company's newest designs and the newest additions to the
Company's bridal collection. The Company's sales for bridal pieces
exceeded its sales for fashion pieces this year.
After several meetings and deliberation, management decided to
end negotiation with a large wholesaler for the better interest of
the shareholders and the company. This deal would have negatively
affected the shareholders and was thus halted.
The first Bergio store is progressing as planned without delays,
with an opening date scheduled for October of this year.
Construction is under way at this time, and the Company is very
excited at the prospect of its first brick-and-mortar
establishment.
Berge Abajian, CEO of Bergio, stated, "We did not anticipate our
sales numbers for the Las Vegas show, although we were able to
change course and persuade a private label program with several
wholesalers and chain stores in order to create sales."
He continued, "I have been asked by many shareholders about the
Faccia a Faccia collection, as well as others. Management decided
that, going forward, our higher-end products will only be sold in
our own retail stores, because we were unable to find the right
partner to protect the design's intellectual property while
properly promoting the product. By selling through our own
boutique, growth may be slower but, in the long run, is anticipated
to benefit the Company and better the brand name. Our changes to
the Company's direction are intended to help the Company recognize
faster revenues and gross margins for the investments made."
He added, "Investing a large amount of money in manufacturing
for sale to large wholesalers, which we have tried in the past,
puts undue financial stress on the Company and its shareholder,
given the relatively low profit margin, with such output generally
failing to justify the gross margins on these orders. We believe
that by selling directly to customers, the Company will realize
improved gross margins."
He concluded, "I know shareholders want a faster return and I
understand the frustration of the stock price, but I would like to
assure them that the company is in great financial health. Due to
industry changes, Bergio is currently fine-tuning and adjusting
itself in order to reap the fruits of the future."
About Bergio International, Inc. Bergio International, Inc. is a
leading jeweler creating a diversified jewelry designer and
manufacturer through acquisitions and consolidation in the
estimated $160 billion a year highly fragmented independently owned
jewelry industry. Bergio currently sells its jewelry to
approximately 50 jewelry retailers across the United States. Bergio
has manufacturing control over its line through its manufacturing
facility in New Jersey, as well as subcontracts with facilities in
the United States and Italy.
The information contained herein includes forward-looking
statements. These statements relate to future events or to our
future financial performance, and involve known and unknown risks,
uncertainties and other factors that may cause our actual results,
levels of activity, performance, or achievements to be materially
different from any future results, levels of activity, performance
or achievements expressed or implied by these forward-looking
statements. You should not place undue reliance on forward-looking
statements since they involve known and unknown risks,
uncertainties and other factors which are, in some cases, beyond
our control and which could, and likely will, materially affect
actual results, levels of activity, performance or achievements.
Any forward-looking statement reflects our current views with
respect to future events and is subject to these and other risks,
uncertainties and assumptions relating to our operations, results
of operations, growth strategy and liquidity. We assume no
obligation to publicly update or revise these forward-looking
statements for any reason, or to update the reasons actual results
could differ materially from those anticipated in these
forward-looking statements, even if new information becomes
available in the future.
Contact: Bergio International, Inc. Investor Relations
973-227-3230 Ext13 www.bergio.com
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