Everlast Worldwide Inc. Signs New Licensing Agreement for Work Boots and Safety Footwear
NEW YORK, Dec. 13 /PRNewswire-FirstCall/ -- Everlast Worldwide Inc. (Nasdaq: EVST), manufacturer, marketer and licensor of sporting goods and apparel under the Everlast brand name, today announced that it has signed a new licensing agreement for work boots, safety shoes, steel-toed shoes and electrostatic dissipating footwear in the U.S. and Canada. The new products will be sold to retailers specializing in this type of footwear, as well as directly to manufacturing factories in the U.S. and Canada. Federated Venture Capital Group of Beijing will lead the consortium of companies, including M&B Imports of Miami and Rontex Federated of Beijing, combining efforts to offer this innovative new Everlast line. Seth Horowitz, Chairman, President and CEO of Everlast Worldwide Inc., said, "The work boots and safety footwear are tough and rugged applications of the Everlast name in our already successful footwear category. This is one of several steps that we have taken and will continue to take in order to maximize our footwear presence in the U.S., Canada and abroad. Consumers turn to the Everlast brand for its durability and value whether at work, play or leisure. In this case, the consumer also depends on quality that will stand up to severe conditions while providing foot protection. The Federated Venture Capital Group and its partners are more than capable of delivering on our company's authentic traditions." B.P. Chien, Chief Portfolio Strategist of Federated Venture Capital, added, "I am pleased and honored to work with such a great team at Everlast Worldwide. Given our association with a world-renowned brand of Everlast's stature, I am extremely optimistic regarding the enormous opportunities that this deal can bring to our organizations." 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. Through its apparel division, Everlast men's active wear products are sold to over 20,000 retail locations throughout the United States and Canada, including a variety of department stores, specialty stores, catalog operations and better mass merchandisers. In addition to producing and marketing the 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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