Everlast Worldwide Inc. announced that it has signed a licensing agreement with South Korea's Spris Corp. The agreement, which is the third signed between Everlast and Spris, calls for Spris Corp. to produce men's, women's and children's underwear and men's loungewear and sleepwear. The new products will be distributed through Spris stores, better department stores, and sporting goods retailers throughout South Korea.
George Q Horowitz, chairman and CEO of Everlast Worldwide Inc., said, “South Korea has emerged as a key Everlast market given the high degree of consumer acceptance the products produced by Spris have enjoyed to date. The expansion of our licensing relationship with Spris is indicative of the tremendous staying power and versatility of the Everlast brand. In addition to South Korea, expansion throughout Asia remains a top priority in our licensing activities due to the tremendous growth potential we see there.”
The Seoul-based Spris Corp. currently markets Everlast retail boxing equipment, men's, women's and children's activewear as well as sportswear and footwear in South Korea. Spris Corp., which has a long and successful history in apparel and footwear, owns the franchise for 150 Spris retail stores. A representative of Spris Corp. noted, “There are few brands in the world today that can match Everlast in terms of consumer awareness as evidenced by the considerable success we've enjoyed with our products. We look forward to the launch of our new Everlast items and to a continuation of that success.”
Seth Horowitz, president and COO of Everlast Worldwide Inc., added, “Licensing continues to be one of the most efficient and profitable ways of expanding the Everlast footprint into new markets and product categories. We continue to explore additional licensing relationships with companies that, like Spris, demonstrate a commitment to quality and innovation and meet our exacting standards.”
