U.S. – Based Shoe Company Goes Public
DETNY Footwear Inc., a New York corporation specializing in shoe design, marketing and sales announced that it successfully completed a public listing on the Frankfurt Stock Exchange. Shares of common stock will trade under the ticker symbol (4DT1.F). The initial listing price for the DETNY common stock on September 7, 2007 was 1.05 Euro per share. DETNY has 9,211,906 common shares issued and outstanding. More information on DETNY’s common stock trading can be found on the official website of the Frankfurt Stock Exchange: www.deutsche-boerse.com.
As a result of the listing, DETNY is looking to secure up to USD $3,000,000 in equity capital. DETNY intends to use the funds to strengthen the company’s infrastructure and sales department. Top priority will be hiring top tier shoe sales personnel, increasing DETNY’s participation in sales-focused trade shows and international sales growth. Additional funds will be allocated to product development and improved quality assurance for all manufactured goods. The company’s product is currently distributed in the United States, New Zealand and Canada; with plans to launch distribution in Germany, Italy, Spain, and other European markets in 2008. DETNY will also begin the launch of apparel, handbags and other accessories in the near future.
“This listing is a significant milestone in DETNY ‘s history and it strengthens our position as a leader in providing fashion footwear with superior comfort,”said Co-CEO Shawn Ward. What better way to celebrate our four year anniversary than to have a successful listing on the Frankfurt Stock Exchange. The investment community has received us very favorably and we’ve secured high-quality shareholders. We look forward to great accomplishments in the future and with our team of new investors and talented employees, we look to make great strides in the near term.”
About DETNY Footwear, Inc.
DETNY Footwear, Inc. is a New York City based shoe company specializing in shoe design, marketing and sales. Their vision entails a dynamic blend of hip, contemporary and casual designs along with the technical comfort of a high performance athletic shoe.
DETNY offers a combination of fashion and comfort that is achieved by incorporating full grain leather with functional features such as the patent-pending Luxury Liner insole for step-in comfort, Dura-Zone durability pods for extended outsole life, and the Comfort Collar that eliminates ankle irritation. DETNY’s goal is to create every consumer’s ideal shoe for their ‘sole.’
C0-CEO twin brothers Shane and Shawn Ward, through their freelance design consultancy SW2DESIGN, have a combined 12-years of experience from designing footwear for industry leaders such as Puma, Reebok, Keen, Wolverine, Merrell, Lugz, Adidas, Converse, Keen, Royal Elastics and Fila.
SHANE & SHAWN and DETNY by SHANE & SHAWN are available at fine boutiques and department stores throughout the United States, New Zealand, and Canada. Retailers include Nordstrom, Macy’s, Abadabbas, Shoe-Inn (Hamptons, NY), Imelda’s, Eilatan, Akira, Zappos.com, Shoes.com and Shoemall.com. For more information about what Shane & Shawn are up to now visit http://www.wardandfifth.com/.