Everlast in Licensing Agreement With Goodtimes Entertainment for Development of
Fitness Videos and Ancillary Products, Which Will Be Marketed Worldwide Via Infomercial,
Mass Retail, the Internet and Other Channels
Everlast Worldwide Inc. , manufacturer, marketer and licensor of sporting goods
and apparel under the Everlast brand name, today announced that it entered into
a licensing agreement with New York City-based GoodTimes Entertainment (http://www.goodtimes.com),
a leading multimedia consumer product marketing company, for the development
of a line of branded fitness videos to be sold individually, as well as in combination
with fitness-related ancillary products. These videos will present cutting-edge
workouts led by a team of expert instructors across a wide range of fitness
styles (including aerobic boxing), and will be marketed on a worldwide basis
via infomercials, e- commerce as well as through selected retailers.
George Q Horowitz, chairman and CEO of Everlast Worldwide Inc., said, "This
agreement accomplishes a number of strategic goals for our company. First, we
expand our product offerings within the fitness marketplace, one of our single
most important categories. Secondly, GoodTimes' business model which utilizes
multiple direct-to-consumer and retail distribution channels including transactional
television, home shopping channels and catalogs merchants will introduce the
Everlast brand name to new consumer audiences. GoodTimes is one of the industry's
leaders and has provided Everlast with significant advances, a testimony to
the strength of the Everlast brand. We look forward to working with GoodTimes."
Kerry Hatch, CEO of GoodTimes Entertainment, said, "GoodTimes Entertainment
is delighted with this agreement. The Everlast name is synonymous with fitness
and active lifestyles and is trusted by consumers, GoodTimes has always focused
on being a dominant force in the fitness business with unparalleled sales, distribution
and marketing reach to diverse audiences. This partnership will deliver trusted,
quality products to a wide range of consumers."
About GoodTimes Entertainment
GoodTimes Entertainment is a fully-integrated, diversified international multimedia
entertainment organization. The company is a dominant leader in direct response
and electronic retailing, as well as a major industry force in the home entertainment
market. GoodTimes Entertainment develops, acquires and distributes products
and programming including fitness sensations Billy Blanks, Leslie Sansone and
The Firm; family entertainment such as Rudolph The Red Nosed Reindeer and Felix
The Cat; housewares such as Xpress 101 and TurboCooker; inspirational home video
product The Omega Code and Megiddo; and many other highly regarded brands.
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 90 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 men's and women's 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
men's and women's sportswear and active wear, children's wear, footwear, watches,
cardiovascular exercise equipment and gym/duffel bags. At the retail level,
Everlast's licensed products generate over $700 million in revenues. The company's
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
Company's 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.
Source: Everlast Worldwide Inc.
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