Everlast Announces New Men's Underwear Launch
2(x)ist to market, design, manufacture and sell new Everlast line
NEW YORK, Jan. 9 /PRNewswire-FirstCall/ -- Everlast Worldwide Inc. (Nasdaq: EVST), manufacturer, marketer and licensor of sporting goods, apparel and other active lifestyle products under the Everlast brand name, today announced that it signed an agreement with H Best Ltd for the licensee's 2(x)ist division to develop and introduce Everlast men's / boy's underwear and men's loungewear and sleepwear. The new Everlast products, which will be launched this year, will be sold through U.S. sporting goods retailers and department stores. Mike Tawil, President of H Best Ltd and its 2(x)ist division, stated: "Everlast is the ideal brand name to help 2(x)ist further penetrate the market for men's underwear and related items. Everlast is a true American icon with connotations of youthfulness, strength, toughness, fitness and durability. In addition, it is a timeless brand and one that has become a staple in men's wardrobes." Joey Harary, President of Jacques Moret, Inc., a partner group of H Best Ltd, stated, "In the time that we have been working with Everlast, we have enjoyed considerable success with the brand, starting with the women's line that we have been marketing over the past year and a half. We believe we will duplicate the success with the men's line, as well as with the new underwear, lounge and sleepwear that will be marketed by our 2(x)ist division. The Everlast brand continues to gain favor with the retail community due to its strong heritage and tremendous level of consumer awareness." Seth Horowitz, Chairman, CEO and President of Everlast, said, "2(x)ist is a brilliant marketer of well-designed, fashionable and high quality men's underwear. As such, they are perfectly qualified to serve as Everlast's licensee for this product category. With their focus on quality and marketing, we have every confidence that the new Everlast underwear program will be a great success. We are also pleased to expand our relationship with Jacques Moret, Inc., one of the apparel industry's leading companies." About Everlast Worldwide Inc. Everlast Worldwide Inc. manufactures, markets and licenses sporting goods, apparel and active lifestyle products under the Everlast brand name. Since 1910, Everlast has been the preeminent brand in the world of boxing and is among the most dominant brands in the overall sporting goods and apparel industries. Over the past 95 years, Everlast products have become the "Choice of Champions(TM)", having been used for training and professional fights by many of the biggest names in the sport. Everlast is the market leader in nearly all of its product categories, responsible for leading eight of the top ten boxing equipment products in sales. In addition to producing and marketing boxing equipment and accessories, Everlast Worldwide Inc. licenses its brand to providers of men's and women's sportswear and active wear, children's wear, footwear, watches, cardiovascular exercise equipment and gym/duffel bags. At the retail level, Everlast's licensed products generate over $700 million in revenues. The company's Web site can be found at http://www.everlast.com . About H Best Ltd H Best Ltd is the owner of the 2(x)ist underwear brand and licensee for underwear under the DKNY Donna Karan and Joseph Abboud labels. In addition, H Best Ltd manufactures private label merchandise for some of the finest department and mid-tier retailers in the United States. Comfort and good design have put H Best Ltd on the cutting edge of fashion underwear, and brought a new sense of style to what was once a purely functional part of one's wardrobe. Superb quality, alluring styling, straight-forward packaging and innovative marketing have all been instrumental in positioning H Best Ltd as a leading maker in men's underwear. Statements made in this Press Release that are estimates of past or future performance are based on a number of factors, some of which are outside of the Company's control. 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. Copies of these filings may be obtained by contacting Everlast Worldwide or the SEC.
SOURCE Everlast Worldwide Inc.
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