Everlast Worldwide Signs Master License Agreement for China with Brand Management Holdings PTY
Licensee to market Everlast brand in mainland China
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NEW YORK–EverlastÂ® Worldwide Inc. (Nasdaq: EVST – News), manufacturer, marketer and licensor of sporting goods, apparel, footwear and other active lifestyle products under the Everlast brand name, today announced that it has entered into a Master License agreement for mainland China with Brand Management Holdings PTY Ltd (BMH) of Hong Kong. BMH is a subsidiary of UCCAL PTE Ltd, a leading distributor and retailer of international apparel brands in China that currently manages over 600 points of sale in support of international brands like Nike Sport Culture, Nike Golf, Jockey, St. John, M. Missoni, Fox, and Kuhle. The license covers The People’s Republic of China and will include the following categories: boxing and fitness equipment, men’s and women’s apparel, men’s and women’s footwear and accessories. In the second quarter of 2008, Everlast licensed products are scheduled to ship to a planned 20 Everlast retail locations in The People’s Republic of China, expanding upon UCCAL’s 165 brand specific retail outlets.
Seth Horowitz, Chairman, President and CEO of Everlast Worldwide, stated, “This achieves one of our stated strategic initiatives in utilizing a well established network to build retail distribution and gain new market penetration. Based on our success in the Pacific Rim, specifically in South Korea and Australia, we are excited to offer our premier active lifestyle brand to The People’s Republic of China.”
James Chen, Chairman of UCCAL, stated, “We are extremely pleased to have this opportunity to bring a truly unique, global sports brand with authenticity to our market. We believe that the potential for the growth of the Everlast brand in this territory is assured and we are certain that the Chinese consumer will not only welcome but embrace the brand.”
Mr. Horowitz continued, “We are enthusiastic about adding this important license with Brand Management Holdings. We have chosen this partner based on their success in building iconic brands in China. They will utilize our global marketing and product development strategies to discover the revenue and profit opportunity in this expanding market.”
About Everlast Worldwide Inc.
Everlast Worldwide Inc. is a leading designer, manufacturer and marketer of boxing and fitness related sporting goods equipment under the well-recognized Everlast brand name and a worldwide licensor of the Everlast brand for apparel, footwear, sporting goods equipment and other active lifestyle products and accessories. Since 1910, Everlast has been the preeminent brand in the world of boxing and among the most recognized brands in the overall sporting goods and apparel industries. In order to capitalize on the rich heritage and authenticity of the Everlast brand, the company has extended the Everlast brand outside of the boxing ring into complementary product categories. Our strategy is to continue to leverage the unique qualities represented by the Everlast brand — Strength, Dedication, Individuality and Authenticity — to become a leading global athletic brand and a necessary part of the lives of consumers who train, compete and live an active lifestyle.
Statements made in this Press Release that state the intentions, beliefs, expectations or predictions of Everlast Worldwide, Inc. and its management for the future are forward-looking statements. It is important to note that actual results could differ materially from those projected in such forward-looking statements. Information concerning factors that could cause actual results to differ materially from those in forward-looking statements is contained from time to time in filings of Everlast Worldwide with the U.S. Securities and Exchange Commission, including the annual report on Form 10-K under the heading “Risk Factors.” Copies of these filings may be obtained by contacting Everlast Worldwide or the SEC.