American Premium Water Corporation has announced that its newly launched FashionCoinX subsidiary is live and operation.
FashionCoinX is a sophisticated piece of technology and users will see the sophistication when they create their accounts. This exchange will bring blockchain technology to the consumer whom might not be familiar with the space or have any blockchain/crypto holdings, according to Ryan Fishoff, CEO American Premium Water Corporation.
Fishoff, added that the company is enthusiastic about how transformative FashionCoinX can be for the fashion and consumer blockchain market.
The exchange utilizes blockchain technology that provides fashion brands the ability to create their own security backed tokens which will provide special discounts, access to exclusive products, and other loyalty rewards to consumers. These tokens can be traded on the exchange, allowing for a real-time indication of a brand’s power.
A Milestone For American Premium Water Corporation
American Premium Water Corporation considers the launch of FashionCoinX a milestone that demonstrates the Company’s continued push towards diversifying its business holdings in cutting edge, high growth sectors.
The company strides to find opportunities that add shareholder value, but also fit within the scope of ‘Brand.Luxury.Lifestyle', the Company’s corporate guidelines that were unveiled earlier this year. The Company will seek opportunities that incorporate brands that have luxury and/or lifestyle components. FashionCoinX checks these boxes, and with the platform going live, it will allow the Company to work with even more well-known luxury brands and retailers, further establishing American Premium as one of the premier consumer product holding companies. As there are more developments with FashionCoinX and other fashion updates, the Company will update the investor community accordingly, added Fishoff.
Since becoming CEO in September of 2017, Fishoff has outlined an ambitious growth strategy for the Company. Since assuming the helm of the Company, Fishoff has overseen the acquisition of Gents, Worthy, ushering in a hydrogen infused CBD prototype and addition of the FashionCoinX exchange.
In April of 2018, at the Planet MicroCap Conference in Las Vegas, NV, Mr. Fishoff unveiled the Company’s corporate strategy, “Brand.Luxury.Lifestyle”, a guideline for future acquisitions and add-ons.
FashionCoinX fits within the guidelines that the Company unveiled earlier this year. There is tremendous opportunity to solidify its existing relationships with its retail partners Saks, Bloomingdales, and Nordstrom with a platform like this (FashionCoinX).
The fashion industry, and to a lesser extent, the luxury retail market has been traditionally slow to adapt to new technologies. The Company feels that with FashionCoinX, we have a platform that will bring innovation to luxury retailers and department stores to assist them to bring customers back through their doors. One of its first initiatives will be to work with these outlets to create and/or accept these security tokens,” added Mr. Fishoff.
According to a recent study from the Market Reports Center, the size of the blockchain industry will grow to $60.7 billion by the year 2024. While companies like Facebook are entering the blockchain technology space along with other established players like Singlepoint Technologies, HIVE Blockchain Technologies, and Global Blockchain Technologies Corp, the Company will be the first to specifically focus on the fashion and luxury brand industry.