One World Doll Project secures $500K from unnamed private equity firm based in New Mexico
The One World Doll Project has entered a deal with a private equity group based in Santa Fe, New Mexico that resulted to a $500,000 investment made in the Houston, Texas-based doll maker, a statement about the deal said.
A subsidiary of One World Holdings Inc, The One World Doll Project seeks to come up with a line of multi-cultural fashion dolls through their Prettie Girls! line. Stacey McBride-Irby, who worked at Mattel for 15 years with the Barbie line, and Trent T. Daniel established The One World Doll Project. McBride-Irby believes that their recently-launched Prettie Girls! line will create a stir in the near future as the dolls have unique looks , backgrounds and series that little girls can relate to, the statement said.
The One World Doll Project Founder Trent T. Daniel said in the statement that the fresh funding resulted from their success at the Toy Fair this year in New York City where they were able to get a "retail distribution deal with a multi-billion dollar retail chain with stores in the United States and Mexico." Moreover, the company is now in the process of finalizing the orders of the other retailers that they met at the event. They are also getting ready to launch three new Prettie Girls! dolls that would be sold in retail and online stores by Christmas this year. He added, "This $500,000 infusion of capital is a direct result of the performance of One World at Toy Fair 2014 and the rapidly expanding media coverage and online popularity of the Prettie Girls! brand."
For One World Chief Executive Officer Joanne Melton, the capital infusion was a vote of confidence from the investors. Melton added, "This financing has provided an immediate cash injection on terms more favorable to One World Holdings, thus allowing for systematic reduction and elimination of existing convertible note financing that, upon conversion, could have resulted in the influx of millions of shares into the market."