Everlast Worldwide has inked two licensing agreements with Hong Kong-based Stelux Watch Ltd. to launch Everlast-branded watches in China, Hong Kong, Taiwan, Singapore, Malaysia, Thailand and Japan with a concentration of sales through its own City Chain group of stores throughout Asia. New York-based 24-7 International, LLC for Everlast sports bags, gym bags, duffels, back- packs, luggage and fashion bags. Under the agreement, the new Everlast products will be launched in the United States in the first quarter of 2005 and will be available in sporting goods retailers and other US chains.
George Q Horowitz, chairman and CEO of Everlast Worldwide Inc., said, “These two agreements exemplify the direction of our licensing program. International expansion, particularly in Asia, is a critical element of our plans given the considerable opportunities for growth in the region. Our agreement with Stelux Watch adds to licenses issued in the categories of footwear, apparel, bags, and men's fragrances already issued in such countries as Japan, China, Malaysia, Singapore, Taiwan, Thailand, Hong Kong, and South Korea.”
He continued, “We are filling out our product line with essentials such as watches and sports bags. Through these licenses we will benefit greatly from the increased exposure these products will generate for the Everlast brand as these are everyday products that all consumers must have. While these products are utilitarian, the use of the Everlast name will add another dimension by making fashion and image statements about the person using the products. For Everlast, the image is one of toughness, strength, authenticity, fitness, style and quality.”
