Printer Friendly

GALLERY RODEO INTERNATIONAL LAUNCHES$60 MILLION EXCLUSIVE RETAIL PROGRAM WITH RENOIR ESTATE

 BEVERLY HILLS, Calif., March 22 /PRNewswire/ -- Gallery Rodeo International (OTC Bulletin Board: GROI) (GRI) has entered into an exclusive agreement whereby the company will pay Red Star Corp. (a company owned and operated by the Renoir family) a total sum in cash and securities of $7.5 million, for the right to create and market a limited edition series of bronze reproductions entitled the Museum Collection. The Museum Collection will provide GRI with sales potential of approximately $60 million over the next three years.
 The Museum Collection consists of 12 newly cast reproductions of fine art sculptures that were created by Pierre-August Renoir more than 74 years ago. The original casts and plasters will be on permanent display in The Provincial Museum of Alberta.
 Jean Emmanuel Renoir, president of Red Star Corp., stated, "We are all very excited to be working with Gallery Rodeo on the Museum Collection program. We feel this is a once in a lifetime opportunity for people to own a limited edition, high-quality bronze Renoir reproduction which will be hand signed and authorized by the Renoir Estate. ... These are the last pieces that we will ever authorized or cast from the Museum Collection."
 Stephen M. Thompson, chief executive officer of Gallery Rodeo International, remarked, "This is probably the largest single commercial fine art venture ever created between an estate of a master artist and a United States gallery. We are proud and honored to have been selected by the Renoir Family for this prestigious opportunity."
 Gallery Rodeo International, through its retail art locations, markets original fine art and limited edition serigraphs, lithographs and sculptures. In addition to representing well known artists' estates such as Renoir and Picasso, the company also promotes its own artists, such as Brett-Livingstone Strong, through its three company- owned galleries and in art galleries throughout the United States. The company current operates three GRI owned galleries in Beverly Hills; Lake Arrowhead, Calif.; Scottsdale, Ariz.; and has a licensing arrangement in Austin, Texas.
 Gallery Rodeo International, a publicly traded company, can be found quoted on the electronic bulletin board under the symbol "GROI."
 -0- 3/22/93
 /CONTACT: Gary Kucher, executive VP of Gallery Rodeo, 310-273-2105/
 (GROI)


CO: Gallery Rodeo International; Red Star Corp. ST: California IN: REA SU:

JB-KJ -- LA007 -- 8059 03/22/93 08:45 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 22, 1993
Words:385
Previous Article:IRE'S 'ATLAS' ENCRYPTION ALGORITHM CHOSEN BY GOVERNMENT OF SINGAPORE
Next Article:NORTHEAST FEDERAL ESTABLISHES EXCHANGE RATIO AND MEETING DATE PURSUANT TO ITS PROPOSED CONVERSION OF PREFERRED STOCK TO COMMON
Topics:


Related Articles
GALLERY RODEO INTERNATIONAL ENTERS INTO LETTER OF INTENT WITH RTC FINANCIAL INC.
GALLERY RODEO INTERNATIONAL SIGNS PURCHASE AGREEMENT FOR GAMING PROPERTY
GALLERY RODEO INTERNATIONAL FINALIZES ACQUISITION OF SEVEN LOTS WITHIN GAMING DISTRICT
GALLERY RODEO INTERNATIONAL PURCHASES ADDITIONAL THREE GAMING LOTS CONTIGUOUS TO "WANDERING STAR" PROPERTY
GALLERY RODEO INTERNATIONAL REPORTS RECORD SECOND QUARTER EARNINGS
GALLERY RODEO INTERNATIONAL ADDS LAS VEGAS GAMING EXPERT GEORGE MAXSON TO BOARD OF DIRECTORS
GALLERY RODEO INTERNATIONAL ENTERS INTO LETTER OF INTENT TO PURCHASE 42 ACRES OF RIVERFRONT CASINO PROPERTY IN LAUGHLIN, NEV.
GALLERY RODEO INTERNATIONAL REPORTS YEAR END FINANCIAL RESULTS
GALLERY RODEO TO OPEN AT MACY'S FLAGSHIP WEST COAST STORE; FOUR YEAR CONTRACT SIGNED
Benacquista Acquires Exclusive Access to More Than $500,000 in Art Inventory.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters