I.C. Isaacs and Samsung Announce Addition of New Brand to Partnership
NEW YORK, Nov. 23, 2010 /PRNewswire/ -- I.C. Isaacs & Company, Inc. (OTC Bulletin Board: ISAC) today announced that it has expanded its partnership agreement with Samsung (SCTA) to include the newly launched Flow Society brand of apparel and accessories. Under terms of the partnership, a long term arrangement, first launched in 2009, Samsung replaced Isaacs' in-house logistics and warehousing and provides working capital financing for the company's two brands, Marithe+Francois Girbaud and Flow Society.
"SCTA has the resources, experience and financial strength to assist Isaacs as we build our brands, our company and our future. Both parties are very excited to be partners in expanding the reach of the company into the active sportswear category. This is exactly what we both envisioned when we began discussing our future together. We are taking another positive step in executing our strategy of building a portfolio of niche brands that add revenue and profitability," said Bob Stec, Chief Executive Officer.
Flow Society is an internally generated concept developed and launched in the active apparel segment of the market in response to the explosive consumer interest and involvement in the sport of lacrosse. Lacrosse is the fastest growing sport in the US. It has a great American heritage-- founded here in the US—with a demographic profile that is very upscale and exploding in terms of both participants and spectators.
"We believe that Flow Society is a perfect fit for our strategy and our company. Most of the focus for the sport has been on hard goods. And we believe that we are filling a void in the apparel category," stated Bob Stec, CEO of Isaacs.
After a successful test marketing in both upscale specialty stores and Dick's Sporting Goods, Flow Society is being rolled out nationally beginning in the fourth quarter of this year. The product, which consists of patterned shorts, t-shirts, socks, hoodies and compression shorts is available in mens, boys and women's size ranges. "Initial consumer acceptance to the brand and the innovativeness of the product have been way above expectations," Stec added.
SCTA is a New York based subsidiary of Samsung International, that provides third party services to a variety of industries including the textile and apparel sectors.
About I.C. Isaacs & Company, Inc.
I.C. Isaacs & Company is a designer, merchandiser and marketer of upper-end niche branded apparel and accessories sold in leading department and specialty stores. The company operates a disciplined and focused marketing and sourcing platform for a diverse growing portfolio of both licensed and owned brands. US marketed brands currently include the "European Blue Line " of Marithe & Francois Girbaud for young men, and Flow Society, authentic lacrosse lifestyle gear for young men, women and boys, which is owned by Isaacs. The company is growing a stable of sustainable niche brands across higher end categories and consumer segments that combine the best of function, form and fashion. For more information please visit the company web site at www.icisaacs.com; www.liveontheflygirbaud.com; www.flowsocietylacrosse.com
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated.
SOURCE I.C. Isaacs & Company, Inc.
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