Everlast Worldwide Inc. Announces the Strategic Signing of Men's Apparel License in the U.S. Company expands licensing relationship with Jacques Moret, Inc.



    NEW YORK, Dec. 14 /PRNewswire-FirstCall/ -- Everlast(R) Worldwide Inc.
 (Nasdaq:   EVST), manufacturer, marketer and licensor of sporting goods and
 apparel under the Everlast brand name, today announced the signing of a new
 four-year license agreement with Jacques Moret, Inc. of New York City. As of
 January 1, 2006, this new agreement grants Moret, a major supplier to the U.S.
 apparel market, a license for Everlast men's activewear, sportswear, outerwear
 and swimwear in the United States.
     Moret will partner with M. Hidary and Company Inc. for design, development
 and sales of the activewear portion of the license. M. Hidary has achieved
 great success with its many years of experience in the men's branded
 activewear business. They will purchase certain men's apparel inventory owned
 by Everlast and assume other transitional costs associated with the men's
 business. Additionally, certain key sales, merchandising and operational
 personnel will join the new group.
     Seth Horowitz, Chairman, CEO and President of Everlast, said, "Everlast
 has achieved tremendous success from operating its own men's apparel business.
 However, we came to the conclusion that the Company and brand would greatly
 benefit from licensing the men's apparel category to Jacques Moret, Inc., one
 of the industry's leading suppliers. As a result of this agreement, the men's
 line will benefit from Moret's market relationships and abilities for
 sourcing. We are quite familiar with the management of Moret and their
 strengths, as we granted our U.S. women's apparel license to them late last
 year. The early success of that license helped to make the decision to grant
 this license for U.S. men's apparel a logical one. Further, we foresee many
 synergies for Moret in leading both our men's and women's apparel in the U.S.
 market place."
     Horowitz continued, "Distribution levels of Everlast men's apparel will
 remain unchanged and will continue to be focused on department and specialty
 stores, mid-tier department stores as well as sporting goods retailers. Orders
 already placed with Everlast for spring and summer men's apparel will be fully
 shipped in joint efforts between Everlast and Jacques Moret, Inc. during the
 transition period. Customer satisfaction and avoidance of disruptions will be
 a top priority for both companies."
     Joey Harary, President of Jacques Moret, Inc., stated," We are extremely
 excited with our relationship with Everlast. We have every belief that we will
 be able to put the resources behind Everlast men's apparel that will result in
 a significant expansion of shelf-space and an increase in Everlast's brand
 equity; we believe this will help our women's business significantly, as well.
 We will be working with M. Hidary and Company Inc. of New York to guarantee
 that our Everlast men's active apparel business will be handled with the
 strong emphasis and ultimate expertise it deserves."
     He continued, "Over the past five years, the management of Everlast
 Worldwide has taken the brand to new heights of consumer awareness through
 innovative marketing and merchandising programs. Their ability to execute one
 major brand exposure campaign after the other, through product placement in
 the critically-acclaimed movies Million Dollar Baby and Cinderella Man, to the
 unscripted drama, The Contender, produced by Mark Burnett Productions and
 DreamWorks, has quite frankly amazed us."
     Seth Horowitz concluded by stating, "Licensing men's apparel to Jacques
 Moret will allow Everlast management to focus its talents and efforts on our
 professional and retail boxing equipment and worldwide licensing businesses,
 which have achieved new heights during 2005. In addition, by eliminating our
 apparel businesses, we believe we will be able to identify and execute even
 more cost containment initiatives that will further enhance Everlast's
 operating results."
 
     About Everlast Worldwide Inc.
     Everlast Worldwide Inc. manufactures markets and licenses sporting goods
 and apparel 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 Jacques Moret, Inc.
     Jacques Moret, Inc. manufactures activewear, bodywear and intimates under
 its brand names: Jacques Moret; Everlast; Norma Kamali-Everlast; Jockey
 Activewear; Etonic; Freestyle, a Danskin Company; Scanty; and 2(X)ist men's
 underwear. In addition Jacques Moret, Inc. is an activewear licensee and is
 the leading replenishment supplier of both branded and private label
 activewear in department stores, mass merchandisers and sporting goods chains
 nationwide. The company's Web sites can be found at www.moret.com or
 www.2xist.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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