Good Vibrations in Financial Straits

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The below is from XBiz, referring to an article in SFGate:

SAN FRANCISCO — Landmark adult retailer Good Vibrations has been blindsided by a drop in Internet sales and growing competition, as well as falling victim to changing Internet trends and Google’s shifting algorithms, according to a story posted Friday on SFGate.com.

Good Vibrations company officials told SFGate.com that company revenue for the year is likely to end up $3 million short of the $13.9 million they had projected.

They are seeking a $500,000 line-of-credit to buy inventory for the holiday season They also are seeking venture capital in the amounts of $1 million to $5 million to add retail stores in order to decrease dependence on web sales.

In many ways an innovator in the realm of adult retail, the 30-year-old, female-owned company operated for most of those years under a nontraditional business model, as a co-op, and espoused a philosophy of alternative sexuality and diversity.

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