The Bluetorch subsidiary, Total Sports Distribution Inc., signed a letter-of-intent with Colorado-based Collective Licensing International LLC to license the Airwalk name for apparel in the United States market. The Airwalk brand has been marketing and selling apparel for just over two years through major U.S. retailers such as The Sports Authority and J.C. Penney. The impending licensing agreement would allow for Bluetorch's subsidiary Total Sports Distribution to start shipping product into the U.S. market in July 2004.
Bruce MacGregor, President and CEO of Bluetorch Inc. said, “By any standard, Airwalk qualifies as a major brand within our industry. The opportunity to work with a preeminent brand such as Airwalk is truly a tremendous milestone for our company. The Airwalk license will provide Bluetorch with a solid revenue platform for 2004, with the potential for tremendous revenue increases in 2005 and beyond. In the July 2003 issue of Sporting Goods Business, the top 50 sporting goods brands were ranked in terms of brand awareness, and only Quiksilver, among all the other action or extreme sport brands, ranked higher than Airwalk.”
Added MacGregor, “We envision following the distribution road map that has already been initiated with Airwalk apparel, which encompasses selling into the department store channel, sporting goods chains and core snowboarding shops.”
Bruce Pettet, CEO of Airwalk International LLC said, “As we have undergone the transition of our company to this licensing model, we have been pleased with the overwhelming interest of companies that understand the strength and reach of the brand. We are very excited about our potential relationship with Bluetorch Inc. Obviously, there were many interested parties, but we feel confident that Bluetorch Inc. represents our best opportunity to maximize the full potential of Airwalk apparel.”
