TARE7, parent company to the airwalk® (including genetic® airwalk skateboarding) and andy mac skate brands, and licensee for the ALPHANUMERIC footwear and ripzone® outerwear brands, announced that the company plans to pursue strategic licensing partnerships for each of its brands.
“This strategy will provide a platform for TARE7 to continue taking its brands to the next level,” said Bruce Pettet, president and CEO of TARE7. “We have built outstanding brand equity which will provide incredible value to licensees.”
TARE7 company executives are currently talking to potential partners to license its footwear and apparel brands with partners appropriate for each brands heritage and demographic.
The company will operate business as usual while focusing on its new direction. In order to successfully achieve its goals, the company will restructure its resources and scale down internal operations. TARE7 remains committed to working with its strong retail base, continuing to provide outstanding product and customer service.
“While operating in the normal course of business, refocusing TARE7 in this manner will allow us to capitalize on our brand equity while strengthening the companys financial health,” said Pettet. “We regret that weve had to make staff reductions during these difficult economic times, but are confident that this new direction will benefit the companys long term success.”