Everlast Worldwide Inc. to Launch Apparel, Footwear in the Philippines
Fourth quarter debut expected as Everlast enters licensing agreement with
Manila-based WS Sports, Inc.
NEW YORK, April 26 /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 licensing agreement with Manila-based WS Sports, Inc. to manufacture and distribute Everlast-branded men's, women's and children's apparel, footwear, underwear and socks in the Philippines. The new products are expected to be introduced by the fourth quarter of this year. Seth Horowitz, Chairman, President and CEO of Everlast Worldwide, said, "The Philippines represent a high growth and relatively untapped market for Everlast. Given the island nation's heritage in the martial arts, and recent success in championship boxing, the Everlast brand name holds special meaning for its citizens and enjoys a high degree of consumer awareness. In addition to unparalleled knowledge of the sports apparel and footwear markets, WS Sports possesses many strengths, particularly in the areas of design, distribution and marketing and has a tremendous commitment to quality. We look forward to a successful launch of their Everlast products." Mr. Chim Esteban, President of WS Sports, Inc., added, "The Everlast brand has achieved what many brands strive for but few accomplish, namely an international reputation for quality and a universal appeal. We are also particularly impressed with the company's management team and its commitment to expand the brand in a controlled and highly strategic way as well as its deployment of highly impactful marketing and brand-building efforts." 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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