Everlast to Launch Footwear in Europe
Expands licensing relationship with Germany's Globus Trading Group GmbH
NEW YORK, Jan. 3 /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 expanded its licensing relationship with Globus Trading Group GmbH, based in Nuremberg, Germany. As a result of the signing of a new agreement, Globus will serve as Everlast's licensee for footwear in Continental Europe (excluding the U.K. and Republic of Ireland). The new Everlast products, which will include athletic and casual footwear, will be sold through sporting goods retailers, department and athletic footwear stores. Last year, it was announced that Globus would serve as Everlast's licensee for a variety of products including boxing equipment, apparel, underwear and socks in various European countries. Seth Horowitz, Chairman, CEO and President of Everlast, said, "The expansion of our relationship with Globus is indicative of the success they've enjoyed with the brand since the onset of our relationship with them last year. In addition, our expanded relationship with Globus complements our recent agreement with Wilson Imports Ltd., which serves as a footwear licensee in the U.K. and Republic of Ireland. Both of these companies possess tremendous design, marketing and distribution strengths in their respective marketplaces and will greatly enhance Everlast's brand exposure in quality stores across all of Europe." Globus president Konstantin Jung added, "There are few brands of Everlast's global stature and appeal. The company's instantly recognizable logo immediately conveys such key brand attributes as athleticism, durability and quality. The power of the Everlast brand has contributed greatly to the success we've enjoyed with our initial Everlast products and will undoubtedly play an important role in the introduction of our footwear line." Concluding, Mr. Horowitz said, "The success of our licensing program to date is a validation of the brand and the global opportunities that lie ahead. We will aggressively pursue additional licensing opportunities with both new and existing licensees as a means to expand and enhance the value of the Everlast brand." 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. 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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