NEW YORK, Jan. 10 /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 a renewal and expansion of the licensing agreement with Tomen
America Inc., which sells Everlast-branded products in Japan and has been an
important Everlast licensee for 10 years.
Under terms of the agreement, Tomen will continue to produce men's,
women's and children's apparel, as well as exercise equipment including
aerobic fitness products, treadmills and weight lifting equipment. Tomen will
also design a new line of men's and women's underwear. The Everlast products
will be sold in Japan to sporting goods retailers, department stores and other
Seth Horowitz, Chairman, CEO and President of Everlast Worldwide, said,
"Everlast has a long-standing, positive relationship with Tomen America. We
have experienced significant annual growth since 2001. Tomen America is known
for its superior design capabilities, very high quality and attention to
detail. This agreement will further leverage our position in the Japanese
apparel market, as part of our overall attention to the international
Mutsuo Yamaguchi, Vice President and General Manager of Tomen America,
stated, "Our Everlast brand business in Japan has grown three-fold since 2000,
and this agreement positions both of our companies to capitalize on that
growth rate. The Everlast brand is highly recognized, and this expanded line
of products will allow us to meet the consumer in all aspects of his or her
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.