- ECGI Holdings signed an agreement in December 2023, creating Pacific Saddlery, Inc., an emerging brand targeting the luxury equestrian apparel, tack, and accessories marketplace, and continues plans to move forward in that market
- In support of growth plans, the company recently secured the first of two $125,000 convertible note financings, with the second convertible note expected to close in July
- ECGI intends to use the net proceeds from the financings to significantly enhance Pacific Saddlery’s product development, helping the brand expand its offerings and capture a significant share of the U.S. luxury equestrian market
- The U.S. luxury equestrian tack and apparel market is valued at $300 million and is expected to grow at an annual rate of 4-6%
- Besides tapping into the expected growth, ECGI’s venture into the luxury equestrian market is buoyed by attractive gross and net profit margins
December of 2023 saw ECGI Holdings (OTC: ECGI), a diversified holding company, make a strategic move toward building luxury brands. The company signed a joint venture share purchase agreement, creating Pacific Saddlery, Inc., an emerging brand targeting the luxury equestrian apparel, tack, and accessories marketplace. The agreement aligned with – and continues to align with – ECGI’s ongoing evolution, new strategic direction, and, according to CEO James Steigerwald, “commitment to building luxury brands” (https://ibn.fm/iCPAf).
A widely held belief by ECGI’s management is that the luxury equestrian marketplace is an ideal focus for investment in building a globally respected boutique brand. This belief has seen the company secure financing to facilitate further product development for Pacific Saddlery. The financing follows…
NOTE TO INVESTORS: The latest news and updates relating to ECGI are available in the company’s newsroom at https://ibn.fm/ECGI
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