Everlast Worldwide Renews and Expands License in Japan
Tomen America renews apparel and equipment license for Japan;
Expands into men's and women's underwear
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 better retailers. 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 licensing program." 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 lifestyle." 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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