Deckers Outdoor Corporation has signed a license agreement with RMP Athletic Locker Ltd. for men's, women's and children's sportswear in Canada. Under the terms of the agreement, RMP Athletic Locker Ltd. will design, manufacture and market Teva outdoor-inspired sportswear, to include knit and woven tops, pants and shorts. The initial term for the license is through December 31, 2007, with an additional option for a three-year renewal.
RMP Athletic Locker Ltd. is a Canadian owned and operated athletic footwear and apparel company headquartered in Ontario, Canada. The company, which was founded in 1977 by Mike and Paul Dyon, has the distribution rights to several leading brands in the Canadian marketplace, including Umbro, Airwalk, Brooks, Rider, Avia and Ryka. Andrew Prendergast, RMP's general manager, stated that “Teva apparel is a natural extension of Teva's footwear business in Canada and we feel confident that it will be equally successful.”
Douglas Otto, Chairman and Chief Executive Officer of Deckers Outdoor Corporation, stated, “We are very excited as we begin to expand our licensing strategies into the international markets. This marks Teva's first exclusively international licensing agreement and represents a tremendous opportunity to further expand the Teva brand worldwide. We believe the sportswear category provides a perfect complement to our Canadian Teva footwear business. RMP Athletic has been very successful at developing apparel lines for several high profile brands and we look forward to a long and mutually beneficial relationship. We are committed to capitalizing on all our opportunities, both within the United States and abroad, in order to maximize value for our shareholders.”
