 Special to the Consumer Electronic Show (CES) - Las Vegas - January 9, 2003 - SCOTTeVEST LLC (SeV), a wholly
owned subsidiary of Technology
Enabled Clothing LLC (TEC), introduces a new version, Sport TEC, at the Consumer Electronics Show in Las Vegas. SeV manufactures the popular line of TEC garments.
SeV also reports that its 2002 earnings grew by over 1,500 percent year over year. This meteoric growth exceeded even the most optimistic analyst expectations, making it clear that the SCOTTeVEST, designed to carry multiple electronic gadgets, is one of the most popular products of 2002. Factors behind this outstanding sales performance include:
- Consumer adoption of multiple devices and the failure of convergence of devices;
- Newly-mandated hands-free mobile phone laws;
- Increasingly restrictive travel policies limiting carry-on luggage and increased security;
- Overall consumer demand for stylish, AND functional apparel.
 
While traditional apparel retailers experienced significantly lower sales this holiday season, SCOTTeVEST bucked this trend. The product's wide appeal to both tech-savy consumers and professionals in industries ranging from photographers to law enforcement made it immune to otherwise lackluster sales that marred the retail clothing landscape this Christmas.
 SCOTTeVEST enjoyed net profits and EBITDA in 2002 that surpassed other successful e-tailers, including the venerable Amazon.com for it's first year in business. "This is proof to the e-marketplace that not all dot-comers are dot-bombers," said Technology Enabled Clothing's Founder and CEO, Scott Jordan. "We believe our continued success and growing sales is due to our dedication to providing consistent quality products that solve problems and help make life easier," according to Jordan.
The company expects to continue to evolve both its products and licensing in the coming year. SeV is using the Consumer Electronic Show to introduce its newest version, Sport TEC. On the licensing front, TEC is currently negotiating with several major clothing manufacturers to license its patent-pending TEC system into a wide range of apparel products.
Building on its popularity in 2001 when USA Today called it one of the top tech gifts of the year, SCOTTeVEST experienced significant achievements in 2002, including:
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featured in the New York Times Magazine Year in Ideas as one of the 2002's "earth shattering breakthroughs, eye-popping innovations and minor leaps forward"; |
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President Scott Jordan has been selected as a finalist for a Fast Company Fast 50 Award; |
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ranked by Dig_iT as one of today's Top 1,000 digital lifestyle products; |
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selected by Disneyland to be featured at Tomorrowland's "Innoventions" Pavilion; |
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on exhibit at the Tech Museum of Innovation in Silicon Valley; |
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featured in more than 2,000 media outlets worldwide, including Business
Week, CNET
Radio, CNNfn, Entrepreneur,
Kiplingers,
Mens Health, New
York Times, Penthouse, Time, London Times, NY Post, US News & World Report; |
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because of the SeV's appeal to espionage agencies, the world renowned International Spy Museum in Washington, DC selected the SCOTTeVEST as the only product that is used in the "field" and sold in their gift shop; |
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featured in fashion shows worldwide as an example of future apparel including CES, CTIA
and Detroit Electronic Expo; |
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cameos in a number of upcoming movies and TV shows including its debut in July in HBO's hit series The Wire; |
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The unprecedented success comes as no surprise, considering the analyst research that supports such an innovation. For example:
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Gartner Group predicts by 2007, more than 60 percent of the European Union and U.S. population aged 15 to 50 will carry or wear a wireless computing and communications device at least six hours a day. By 2010, the figure will rise to over 75 percent; |
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Giga reports that "For people traveling on business, Technology Enabled Clothing is very appealing as a more personal way to carry technology and keep it easily accessible." |
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Collision rates for drivers using handheld cell phones are roughly the same as drivers who were legally drunk. (New England Journal of Medicine) |
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There are currently over 282 million mobile professionals worldwide (individuals over the age of 17 that spend 20 percent or more of their total working time away from their desk). (www.researchportal.com) |
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Mobile
executives may carry as much as 10 pounds of tech tools. This trend has
already rendered briefcases obsolete and is the driving force behind a new
direction in fashion: e-wear, according to Iconcast. |
Based on these projections and sales to date, SCOTTeVEST and its parent company, TEC, predict that within the next five years, at least half of all upperbody apparel will incorporate a wireless-enabling technology system licensed by TEC. "By 2008, TEC will be virtually everywhere," Jordan says.
Note to Editors, Analysts & Friends: If you are attending CES, January 9-13, 2003 in Las Vegas, please contact Christine Attalla at 630-783-1024 while at the show to arrange an appointment with Scott Jordan.
ONLINE PRESS KIT CLICK HERE- Press Contact
Christine Attalla, PR Consultant
1456 N Dayton, Suite 304
Chicago, Illinois 60622
Phone: 312-654-8570 or 630-783-1024
media@scottevest.com
About SCOTTeVEST LLC and Technology Enabled Clothing LLC
Founded in 2001, Technology Enabled Clothing LLC and its wholly-owned subsidiary, SCOTTeVEST LLC, are the leaders in the apparel industry as it relates to incorporating electronic equipment into clothing. Technology Enabled Clothing LLC has filed for international patent protection for the design and utility of incorporating third-party electronic devices and their wires into clothing. For more information about SCOTTeVEST, visit www.scottevest.com, or www.technologyenabledclothing.com, or email us at media@scottevest.com.
Certain matters discussed in this release are "forward-looking statements," including statements about TEC and/or TEC's future results, plans and goals and other events that have not yet occurred. These statements are intended to qualify for the safe harbors from liability provided by the Private Securities Litigation Reform Act of 1995. Because forward-looking statements involve risks and uncertainties, there are many factors that could cause TEC's and/or TEC's actual results to differ materially from those expressed or implied in this release.
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