Everlast Worldwide Inc. Licenses Sunglasses and Frames
Optimate, Inc. to Sell Eyewear Around the Globe
NEW YORK, May 16 /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 has signed a license with Optimate, Inc. to develop, manufacture and sell men's, women's and children's sunglasses and ophthalmic frames. Based in Arcadia, California, Optimate, Inc. is a major supplier to the largest companies in the optical business. The Everlast-branded glasses and frames will be sold in high-end and mid-tier department stores, sporting goods retailers and optical stores. The Optimate, Inc. license applies around the world, with the exception of Asia. Seth Horowitz, Chairman, President and CEO of Everlast Worldwide, said, "This license meets a key component of our licensing and marketing mix: to seek and sign licenses that provide exposure on high-end products that will continue to elevate the Everlast brand. Optimate, Inc. is an expert in the manufacturing and distribution of sunglasses and ophthalmic frames on a worldwide scale, and their stylish and sporty frames will continue to reinforce Everlast as a lifestyle brand that resonates well with our customers." Joseph De Marzio, Optimate's director of marketing, added, "The Everlast eyewear and sunwear collection will reflect our value of innovation, quality, styling and commitment to our customers. Everlast has done an excellent job of building a line of world-renowned products that have exceeded consumers' performance expectations for almost a hundred years; they are truly 'The Choice of Champions.' Everlast's reputation and overwhelming brand recognition, not only in the world of boxing but also in the minds, bodies and souls of all who wish to push it to the limit, will be a key component in Optimate's approach to design, styling, quality, marketing and brand presence in today's ever-evolving marketplace." 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 96 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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