Deckers Outdoor Corporation has entered into a license agreement with Fownes Brothers, Inc. for the sale of UGG Australia branded cold weather accessories in the United States. Under the terms of the agreement, Fownes Brothers, Inc. will design, manufacture and market UGG Australia cold weather accessories including gloves, scarves and headwear to be sold in better department stores and independent specialty stores. The initial term for the license is through January 2008, with an additional option for a three-year renewal.
Fownes Brothers, Inc., headquartered in New York City, is a privately-held, family-owned and operated business which supplies a full range of cold weather accessories including gloves, scarves and headwear in leathers, knits, woven fabrics and furs. Tom Gluckman, President and CEO of Fownes, commented, “We are delighted to have been granted the UGG Australia cold weather accessories license, since this great brand is a perfect extension to our cold weather accessories product offering.”
Doug Otto, President and Chief Executive Officer of Deckers Outdoor Corporation, stated, “We are extremely excited about this new licensing agreement for cold weather accessories and believe gloves, scarves and headwear will serve as a perfect complement to our UGG Australia footwear. The demand for the UGG brand continues to strengthen, allowing us to build upon our leading position in the premier sheepskin footwear category while at the same time increasing our penetration of the overall luxury goods market through the introduction of non-footwear branded products. We are committed to successfully executing our strategy and look forward to capitalizing on the many opportunities that lie ahead.”
