DPW Holdings Announces Ecommerce Business, ItsLikeFashion.com, Completes Beta Testing for Brand Name and Luxury Products Portal

Company Anticipates Fourth Quarter Revenue from “Touch-Free” Private Shopping Experience

NEWPORT BEACH, Calif., Sept. 21, 2020 (GLOBE NEWSWIRE) -- DPW Holdings, Inc. (NYSE American: DPW) a diversified holding company (“DPW,” or the “Company”), announced today that its subsidiary, It’sLikeFashion.com, Inc. (“It’sLikeFashion”) https://www.ItsLikeFashion.com, a membership-only Ecommerce business, has successfully completed beta testing of its online platform. The Company stated it anticipates reporting revenue from It’sLikeFashion in the fourth quarter of 2020.

ItsLikeFashion.com offers household brand name and luxury items ranging from apparel, bags, purses, shoes and accessories, to linens, bedding and similar items at prices discounted up to 90% off retail prices. Members will be able to access a variety of luxury and brand name items directly through the website, https://www.ItsLikeFashion.com, or through their favorite online channels such as Facebook, Instagram, Twitter, Pinterest, YouTube and LinkedIn, providing a unique private shopping, touch-free, Covid-19 safe experience.

The Company is also leveraging the power of social media to conduct exclusive “pop-up” sales events with members receiving notification of the sale location no more than a few days prior to the event, in time for the 2020 holiday season. It’sLikeFashion anticipates that pop-up sales will take place over a one-to-four-day period. Members will typically be able to preview items days prior to the pop-up sale, contingent upon any local restrictions.

Membership is required and available now at https://www.ItsLikeFashion.com. Members will be able to purchase their selections online or in person, on a first-come first-served basis. Memberships cannot be shared between individuals.

Every year retailers in the U.S. send billions of pounds of unsold inventory to landfills or have them incinerated. Apparel returns in the U.S. create more than five billion pounds of waste each year and more than 15 million metric tons of carbon dioxide. Concerns over waste are growing as retailers bring more shoppers online, where the rate of returns is 25% compared to just 9% for in-store purchases. ItsLikeFashion.com has joined the fight to reduce the amount of excess inventory headed to landfills or incineration by providing manufacturers a more sustainable, “greener” alternative to liquidate their inventories.