CORRECTING and REPLACING SKECHERS Signs Licensing Agreement for Sporting Goods and Safety Gear
MANHATTAN BEACH, Calif.--(BUSINESS WIRE)-- Please replace the release with the following corrected version due to multiple revisions.
The corrected release reads:
SKECHERS SIGNS LICENSING AGREEMENT FOR SPORTING GOODS AND SAFETY GEAR
SKECHERS USA, Inc. (NYSE:SKX), a global leader in the footwear industry and the number two footwear brand in the United States*, today announced that it has signed a licensing agreement with Street Flyers, LLC to produce sporting goods and safety gear collections for children and young adults. Both collections are planned to launch in toy and mass market retailers throughout the U.S. and Canada in Spring 2012.
Under the agreement, Street Flyers will design, produce and distribute SKECHERS-branded bicycles, skateboards, scooters, skates and safety gear. The children's collection will incorporate designs and images from SKECHERS' Zevo-3 animated television series and SKECHERS Kids characters, which are well known globally due to extensive television advertising and marketing campaigns. Each character represents a uniquely branded SKECHERS Kids footwear collection, including Twinkle Toes by SKECHERS, Sporty Shorty by SKECHERS, HyDee HyTop(TM) by SKECHERS, The Incredible Elastika Bungees(TM), Punkie Rose(TM) by SKECHERS, and Bella Ballerina(TM) by SKECHERS for girls; and Z-Strap(R), Kewl Breeze(R), Hot Lights by SKECHERS and Luminators by SKECHERS for boys. In addition, SKECHERS footwear branding will be utilized for the young adult collections.
"We have found phenomenal success in the performance fitness arena, developing high performance athletic footwear for adults. Sporting goods are a great way to reach children and a natural extension of our athletic offering," said Michael Greenberg, president of SKECHERS. "We are thrilled to launch SKECHERS-branded sports equipment with a well respected company like Street Flyers. SKECHERS is the number one children's footwear brand in the United States, and Street Flyers is one of the largest wheeled sporting goods companies in North America, so the partnership is a natural fit."
"SKECHERS is one of the most recognized footwear brands in the world, which is an ideal platform to launch sporting goods under the SKECHERS name," said Ike Tawil, CEO of Street Flyers. "The SKECHERS Kids character collections offer compelling design inspirations for children's bikes and skateboards, among other wheeled products. We're confident that the young adult sporting goods collections will also be a successful new addition to the SKECHERS brand."
In addition to Street Flyers, SKECHERS has partnered with numerous licensees to produce a wide range of products including children's apparel, bags, sunglasses, legwear, medical scrubs and leather accessories. The Company is currently negotiating with additional licensees, both domestic and abroad, and continues to seek partnerships and opportunities that will bring the SKECHERS brand to new product segments around the globe.
About SKECHERS USA, Inc.
SKECHERS USA, Inc., based in Manhattan Beach, California, designs, develops and markets a diverse range of footwear for men, women and children under the SKECHERS name, as well as under several uniquely branded names. SKECHERS footwear is available in the United States via department and specialty stores, Company-owned SKECHERS retail stores and its e-commerce website, and in over 100 countries and territories through the Company's global network of distributors and subsidiaries in Canada, Brazil, Chile, and across Europe, as well as through joint ventures in Asia. For more information, please visit www.skechers.com.
About Street Flyers, LLC
Founded in 1999, Street Flyers is a global trading company that designs and markets a wide range of products including bicycles, skateboards, scooters, skates, battery-powered ride-ons, safety gear and summer seasonal pool and back yard products. Street Flyers holds licenses in various categories with many notable brands including Spider-Man, Iron Man, Captain America, The Avengers, SpongeBob SquarePants, Dora the Explorer, Go Diego Go, Lalaloopsie and Cadillac. With headquarters in New York City and offices in Minneapolis, Bentonville and various locations in China, Street Flyers is a global leader in the wheeled sporting goods industry.
*Sporting Goods Intelligence, June 21, 2010
This announcement may contain forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or simply state future results, performance or achievements, and can be identified by the use of forward looking language such as "believe," "anticipate," "expect," "estimate," "intend," "plan," "project," "will be," "will continue," "will result," "could," "may," "might," or any variations of such words with similar meanings. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in forward-looking statements. Factors that might cause or contribute to such differences include international, national and local general economic, political and market conditions including the ongoing global economic slowdown and market instability; entry into the highly competitive performance footwear market; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers, decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of footwear for consumers; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in SKECHERS' Form 10-K for the year ended December 31, 2010 and SKECHERS' Form 10-Q for the quarter ended March 31, 2011. The risks included here are not exhaustive. SKECHERS and Street Flyers operate in a very competitive and rapidly changing environment. New risks emerge from time to time and the companies cannot predict all such risk factors, nor can the companies assess the impact of all such risk factors on their respective businesses or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results. Moreover, reported results should not be considered an indication of future performance.
Source: SKECHERS USA, Inc.
Released Jun 1, 2011 • 1:00 pm EDT