Aussie Apparel Group Ltd. announced that it has received its first domestic orders for its Hot Tuna brand for shipment to US retailers in September and October. The Company is utilizing the Hot Tuna label as its platform for entry into the US market.
President/CEO of Aussie Apparel Group Ltd., Bruce MacGregor said, “With everything we have put in place, we feel we have the potential to create $280 million in domestic revenue between the Hot Tuna, Xisle, and Piranha Boy/Piranha Girl brands through 2008.” This estimate comes two weeks after the Company announced its first foreign licensing deal with Frontier International Holdings for the South Pacific region including Australia. The April 10, 2003 announcement called for minimum sales of AUS$53.8 million over the next five years with Aussie Apparel receiving a 6% royalty.
“We are extremely pleased with the quality of the independent surf shops that have written orders for the Hot Tuna brand for September/October delivery. Their enthusiasm for the brand and tremendous reaction to the product is unmistakable. Retailers know the Hot Tuna label as a highly recognized and authentic surf brand!” stated Stewart Kawamura, National Sales Manager. Kawamura’s comments were supported by statements made by various retailers who have ordered the brand for fall 2003 delivery. Said George Malovrazich, co-owner of Epic Sports in Pasadena, California, “Hot Tuna is back in full force!” In terms of looking forward, Gene Bagley, owner of On the Beach, on South Padre Island, Texas, stated, “Im looking forward to seeing what Hot Tuna can do in our stores. It is a great authentic surf brand for a core shop.”
