Pacific Vector Holdings Inc. has signed a licensing agreement with Street League, Inc. to open retail stores under the SLS banner and to manage the SLS e-commerce business.
Pursuant to the Agreement, Pacific Vector has licensed the exclusive worldwide right to develop “Street League” branded brick and mortar retail stores and to sell Street League branded products through these stores. In exchange for these rights, Pacific Vector has agreed, amongst other things, to pay SLS a royalty based on net sales from the stores.
“The Street League brand is synonymous with quality and excitement,” said Robert Reynolds, Chief Executive Officer of Pacific Vector Holdings, Inc. “This exclusive, new partnership will harmoniously blend the Street League skateboarding experience with world class brands and athletes to create a unique retail experience.”
“The partnership between Pacific Vector Holdings and Street League to create an authentic retail store experience is an extremely exciting project to be a part of. I'm looking forward to working with the team over at Street League to create a key retail player in the core skate and lifestyle market,” said Chad Foreman, President of brands at Pacific Vector Holdings.
“We are thrilled at the retail opportunity with Pacific Vector,” says Street League General Manager Brian Atlas. “We are looking forward to creating a premium retail experience with Pacific Vector that is centered on providing customers with the best brands from street skateboarding as well as showcasing all the signature products from the most elite pros.”
Pacific Vector Holdings plans to launch the SLS e-commerce platform and open its first SLS store by late 2013.
About Street League, INC. (SLS) is the first-ever professional league for street skateboarding. The SLS Nike SB World Tour features 20 of the world's most exciting street skateboarders competing in an easy-to-follow, instant scoring format on one-of-a- kind concrete skate plazas, all for the largest prize purse in skateboarding history. www.streetleague.com