Everlast Worldwide Inc. to Introduce Boxing Equipment in South Africa
Company Expands Licensing Relationship With 'Better Brands'
NEW YORK, May 2 /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 expanded its agreement with an existing licensee "Better Brands" to include boxing equipment in South Africa. "Better Brands," located in Johannesburg, South Africa, and formally known as Golden Falls Trading 275 (PTY) Limited, currently holds an Everlast license for men's, women's and children's activewear in South Africa. The boxing equipment is expected to be launched immediately to sporting goods retailers and department stores. Seth Horowitz, Chairman, President and CEO of Everlast Worldwide, said, "South Africa continues to be a key market for us, and the 'Better Brands' licensee has demonstrated excellent placement and sell-through with Everlast-branded activewear products. We believe they can expand this success with the introduction of our equipment because boxing not only continues to be an important sport in the country, but also is growing more popular as a fitness activity." Mr. Wayne Smidt, Director in charge of the Everlast program for "Better Brands," added, "Everlast activewear has been received incredibly well in South Africa, and we believe the introduction of boxing equipment will only enhance the brand's worldwide recognition for strength and durability. We have been pleased to work with this management team throughout our licensing agreement, and especially during this expansion stage." 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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