NexCen Brands, Inc. has entered into an agreement with Li & Fung USA, to manufacture and distribute branded apparel under The Athlete's Foot brand. NexCen publicly announced in June its intention to launch the TAF line of branded apparel. Financial terms of the agreement were not disclosed.
“NexCen Brands is committed to building relationships with world-class partners in order to build value for our portfolio of brands. When we conceived the TAF branded apparel line, we were determined to find a premier, global licensee with a proven track record in developing quality consumer products,” commented Robert W. D'Loren, President and CEO of NexCen Brands, Inc. “Li & Fung offers us a comprehensive solution to our needs – from product design through production.”
The first two collections in the TAF line are performance athletic attire, known as taftec, and Track & Field, a “classic athletic” collection that takes inspiration from retro and collegiate sport styles. NexCen led the design initiatives for taftec product that will be available in stores during the first quarter of 2008 and Track & Field product to be available shortly thereafter.
Additionally, Li & Fung USA will manage the supply chain from the development stage through distribution for the TAF branded apparel lines. Categories of product in the line include: shirts, running bras, shorts, pants and tights, sweat suits, outerwear and accessories.
“NexCen has created for TAF a premier collection of athletic attire and accessories that provides our TAF franchise owners with the added bonus of attractive margins. We expect that loyal TAF consumers, everyday athletes in search of lifestyle gear to help them perform at their highest level, will be pleased to have this type of superior product available to them at their local TAF store,” commented Mr. D'Loren.
