Everlast Worldwide Inc. manufacturer, marketer and licensor of sporting goods and apparel under the Everlast brand name, today announced that the company had expanded its relationships with two licensees:
– Muse Marketing Limited, based in Hong Kong, will introduce Everlast apparel in Hong Kong, which will ship in fall '05. Originally signed in October 2001, Muse enjoyed considerable success with its line of Everlast bags and footwear in Hong Kong.
– Hong Kong-based Stelux Watch Ltd., which is launching Everlast-branded watches in China, Hong Kong, Taiwan, Singapore, Malaysia, Thailand and Japan, will expand its territory to include Europe. Its line of Everlast watches will begin shipping in Europe by mid-'05.
George Q Horowitz, chairman and CEO of Everlast Worldwide Inc., said, “These expanded relationships with existing licensees provide ample testimony to the strength and universal appeal of the Everlast brand. Both of these companies are excited about the potential for their initial Everlast products and approached us about new opportunities. In addition, both Muse and Stelux are top flight designers and marketers and will enhance the worldwide stature of the Everlast brand.”
Today, the Everlast brand is represented in many important consumer categories including batteries, jewelry, nutritionals, apparel and footwear among many others. In addition, Everlast merchandise is available throughout the world in 87 countries.
Mr. Horowitz concluded, “We will continue to leverage the strength and consumer recognition of the Everlast brand through the signing of additional licensing agreements. There are quite a number of new product categories as well as international growth opportunities for our company and licensing is an expedient and cost-efficient means for expanding our brand's footprint.”
About Everlast Worldwide Inc.
Everlast Worldwide Inc. manufactures, markets and licenses sporting goods and apparel 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 90 years, Everlast products have become the “Choice of Champions,” 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. Through its apparel division, Everlast men's and women's active wear products are sold to over 20,000 retail locations throughout the United States and Canada, including a variety of department stores, specialty stores, catalog operations and better mass merchandisers. In addition to producing and marketing the 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 $600 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.