WITH DESIGN IN MIND APPOINTED GIFT AND SPECIALTY DISTRIBUTOR FOR DECO DISC INDUSTRIES INC.
CHATSWORTH, Calif., July 6 /PRNewswire/ -- With Design in Mind International Inc. (NASDAQ: WDIM) today reported that it has entered into an agreement with Deco Disc Industries Inc. (DDI) under which DDI has licensed to WDIM the rights to distribute to the Gift and Specialty retail markets a product which DDI sells directly to Mass Merchant retailers. The product that WDIM has been licensed to distribute is a new line of patented greeting cards and ornaments with "pop-out" compact discs. The overall DDI line for Christmas is being launched using artists from Sony Music, Capitol-EMI, and the Walt Disney Co., among others. Sheldon F. Morick, president and chief executive officer, commenting on the agreement said, "Although this is a new product line for WDIM, it has already undergone the development stage and is ready for sale now. We believe the product can make a significant contribution to sales in calendar 1993. Sales of our Great Stuff product line, due in part to production delays and continued weakness in the retail environment, are lower than expected. Combining the DDI product line into our existing distribution channels will ease the pressure on Great Stuff to perform this year." Invented by Donald Spector, a well-known inventor whose inventions include the use of hydraulics in exercise products and electronics in fragrance products, the DDI packaging format has certain advantages over conventional compact disc packaging. The new packaging is unique in that it has 20 percent of the depth of a conventional compact disc jewel box, though with much greater strength. It also has much more exciting graphic capabilities. Jim McGraw, founder of Viking Entertainment and the new president of DDI, says, "We are starting in the Christmas novelty business, but plans have already been made for front line artists. Over the next year, DDI intends to expand the technology to sports cards and spoken word programming. In the next couple of years, DDI expects a substantial portion of its growth to come from video programming available on discs packaged in the same format." Working with WDIM and DDI is Mary Rodas, Catco's teenage vice president, who has been the subject of numerous television programs and articles. Mary is best known for assisting Catco, a New York-based toy company, in launching the successful Balzac line of children's products. Mary helped develop the die-cut process for DDI products, so that they are more collectible, and more fun. She also encouraged company executives to get a Mickey Mouse Christmas Album, a Snoopy Christmas Album and an Alvin Christmas Album. The Mickey Mouse Christmas Album will be exclusively available through WDIM, and will be sold into the Gift and Specialty retail markets only. Morick stated, "DDI products are a good fit with our previously stated strategy of focusing primarily on unique and functional children's products. The products are both unique and functional, and while some of the line is clearly adult oriented, much of the product is suitable for children, and we anticipate further additions to the line that are directed at the children's market." Under the agreement, DDI has received warrants to purchase, for the next five years, shares in WDIM equal to approximately 16 percent of the currently outstanding shares. -0- 7/6/93 /CONTACT: Sheldon F. Morick, president and CEO, or Michael S. Manahan, VP and CFO, of With Design In Mind, 818-407-1286/ (WDIM)
CO: With Design in Mind; Deco Disc Industries Inc. ST: California IN: REA HOU SU: PDT
LM-EH -- LA005 -- 8488 07/06/93 08:45 EDT
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|Date:||Jul 6, 1993|
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