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NEW YORK, Dec. 13 /PRNewswire-FirstCall/ -- Everlast Worldwide Inc.
(Nasdaq: EVST), manufacturer, marketer and licensor of sporting goods and
apparel under the Everlast brand name, today announced that it has signed a
new licensing agreement for work boots, safety shoes, steel-toed shoes and
electrostatic dissipating footwear in the U.S. and Canada. The new products
will be sold to retailers specializing in this type of footwear, as well as
directly to manufacturing factories in the U.S. and Canada.
Federated Venture Capital Group of Beijing will lead the consortium of
companies, including M&B Imports of Miami and Rontex Federated of Beijing,
combining efforts to offer this innovative new Everlast line.
Seth Horowitz, Chairman, President and CEO of Everlast Worldwide Inc.,
said, "The work boots and safety footwear are tough and rugged applications of
the Everlast name in our already successful footwear category. This is one of
several steps that we have taken and will continue to take in order to
maximize our footwear presence in the U.S., Canada and abroad. Consumers turn
to the Everlast brand for its durability and value whether at work, play or
leisure. In this case, the consumer also depends on quality that will stand up
to severe conditions while providing foot protection. The Federated Venture
Capital Group and its partners are more than capable of delivering on our
companys authentic traditions."
B.P. Chien, Chief Portfolio Strategist of Federated Venture Capital,
added, "I am pleased and honored to work with such a great team at Everlast
Worldwide. Given our association with a world-renowned brand of Everlasts
stature, I am extremely optimistic regarding the enormous opportunities that
this deal can bring to our organizations."
About Everlast Worldwide Inc.
Everlast Worldwide Inc. manufactures, markets and licenses sporting goods
and apparel products under the Everlast brand name. Since 1910, Everlast has
been the preeminent brand in the world of boxing and is among the most
dominant brands in the overall sporting goods and apparel industries. Over the
past 95 years, Everlast products have become the "Choice of Champions(TM),"
having been used for training and professional fights by many of the biggest
names in the sport. Everlast is the market leader in nearly all of its product
categories, responsible for leading eight of the top ten boxing equipment
products in sales. Through its apparel division, Everlast mens active wear
products are sold to over 20,000 retail locations throughout the United States
and Canada, including a variety of department stores, specialty stores,
catalog operations and better mass merchandisers. In addition to producing and
marketing the equipment and accessories, Everlast Worldwide Inc. licenses its
brand to providers of mens and womens sportswear and active wear, childrens
wear, footwear, watches, cardiovascular exercise equipment and gym/duffel
bags. At the retail level, Everlasts licensed products generate over $700
million in revenues. The companys Web site can be found at
http://www.everlast.com .
Statements made in this Press Release that are estimates of past or future
performance are based on a number of factors, some of which are outside of the
Companys control. Statements made in this Press Release that state the
intentions, beliefs, expectations or predictions of Everlast Worldwide, Inc.
and its management for the future are forward-looking statements. It is
important to note that actual results could differ materially from those
projected in such forward-looking statements. Information concerning factors
that could cause actual results to differ materially from those in forward-
looking statements is contained from time to time in filings of Everlast
Worldwide with the U.S. Securities and Exchange Commission. Copies of these
filings may be obtained by contacting Everlast Worldwide or the SEC.
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