Everlast Worldwide Inc. (Nasdaq: EVST – News), manufacturer, marketer and licensor of sporting goods and apparel under the Everlast brand name, today announced the signing of a new licensing agreement with Sparta Ltd., a sporting goods supplier based in St. Petersburg, Russia. Sparta will serve as the Everlast licensee of retail boxing equipment as well as products used for exercising, aerobics, weightlifting, and the martial arts, among other sports. The Everlast line produced by Sparta will be distributed throughout the Russian Federation and sold through sporting goods outlets and better department stores. Everlast Worldwide Inc. will continue to exclusively manufacture and supply boxing gear for professional boxers throughout the world.
George Q. Horowitz, chairman and CEO of Everlast Worldwide Inc., remarked, ''This agreement with Sparta is a great step in our international expansion and enhances our position in the significant worldwide boxing/fitness market. In addition to a quality commitment, Sparta possesses strong marketing, design, sourcing and distribution capabilities and will continue Everlast's tradition of producing high quality, durable and functional products.''
Konstantin Jung, managing director of Sparta Ltd., said, ''Everlast is truly one of the most respected and important brands in sports today. Given its rich history, Everlast is a brand that enjoys an enormous degree of consumer awareness in Russia. Transcending its heritage in boxing, Everlast has tremendous appeal to both serious and casual fitness enthusiasts. We believe the launch of our Everlast items will generate great excitement among consumers throughout Russia from the popular boxing market to the enormous fitness category.''
Mr. Horowitz concluded, ''Our expansion into international markets is being driven by consumer demand for branded products of the highest quality. We will continue the aggressive expansion into international markets for the Everlast brand through additional licensing and marketing activities.''