Everlast Worldwide Inc., 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 footwear, apparel and sporting goods supplier based in St. Petersburg, Russia. Sparta, who currently serves as the Everlast licensee of apparel, retail boxing equipment as well as products used for exercising, will produce men's, women's and children's footwear. The Everlast line produced by Sparta will be distributed throughout the Russian Federation and sold through sporting goods outlets and better department stores.
George Q Horowitz, chairman and CEO of Everlast Worldwide Inc., remarked, “International expansion focused on Europe, Asia and Latin America will continue to be one of our guiding strategies. Building on our position as one of the world's best known sports brands, we intend to increase our penetration of existing international markets while opening new ones by signing additional licensing agreements with fine organizations such as Sparta which possesses a strong commitment to quality and the development of innovative products with great consumer appeal. ”
Konstantin Jung, managing director of Sparta Ltd., said, “Everlast is a world class brand and one that occupies an important place in sports history. Given the level of brand awareness that Everlast enjoys in Russia, we expect that introduction of our footwear items will generate considerable excitement among consumers and retailers.”
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(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. 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.