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PRZOOM - /newswire/ -
Phoenix, AZ, United States, 2007/02/09 - Buffalo Exchange is one of 5 companies to be honored at bizAZ Magazine's Annual Hot Growth Awards ceremony on Thursday, Feb. 22, 2007 at The Ritz-Carlton Hotel in Phoenix at 7:30 am.
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bizAZ Magazine named Buffalo Exchange one of “Our 5 Hot Growth Companies” in Arizona, Jan/Feb 2007 cover story: “Winners share common focus: better serving their customers...each business, in its own way, demonstrates a commitment to innovation and a willingness to perfect its products and services. That is why they are bizAZ’s Hot Growth Companies for 2007.
Final selections from more than 35 nominees were based on the companies’ financial strength, including revenue and employee growth, and advancements made in their respective fields.” Hot Growth criteria were: based in Arizona, in operation for at least three years, and at least $1 million in revenue by the end of fiscal 2005. Tucson-based Buffalo Exchange “currently focuses on adding three stores to its chain per year, which has contributed to its annual revenue growth. For the past three years the company has grown in revenue by about $5 million annually...Today, Buffalo Exchange focuses primarily on opening stores in urban areas with 500,000 or more people...the company is focusing on opening more locations in the Midwest and on the East Coast.”
The article included an interview and full-page color photo of Buffalo Exchange founder and President Kerstin Block, who said: “We started out as one of those alternative-type stores where you would find hand-embroidered dresses from Mexico and tunics from Afghanistan and things like that. In order to survive, you have to take regular stuff, too...brands like Banana Republic, Gap, Abercrombie.” The story was also published in The Arizona Republic’s Business section, front page, “5 Hot Growth Companies” and companion article “Clothing reseller expanding ‘organically’ to other states,” Jan 14, 2007 (published online Jan 13).
Buffalo Exchange is unique because clothing and accessories are bought, sold and traded directly with store customers. Used clothes can be traded for any item in the store, including jewelry and new clothing. The ever-changing inventory includes designer wear, basics, vintage, jeans, leather, and one-of-a-kind items. As of Feb 2007, the resale clothing store chain has 29 stores and 3 franchises in 12 states, with over $43 million a year in sales.
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mlivingston[.]bufex.com 
