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GOLETA, Calif., Sep 16, 2003 (BUSINESS WIRE) -- Deckers Outdoor Corporation (NASDAQ: DECK) today announced that it has signed two separate license agreements for men's sportswear and headwear for the United States.
Deckers Outdoor Corporation signed a license agreement with Capital Mercury Apparel, Ltd., a privately owned New York-based manufacturer of apparel. Under terms of the agreement, Capital Mercury will design and market Teva men's sportswear with distribution targeted at better department stores, specialty outdoor retailers and sporting goods stores throughout the U.S. The initial license term is through November 2007, with an additional three-year renewal term.
Douglas Otto, Chairman and Chief Executive Officer of Deckers Outdoor Corporation, stated "Since acquiring the worldwide rights to Teva almost a year ago we have been very selective in our search for licensing opportunities that strategically fit with the lifestyle nature of the brand. Capital Mercury's ability to produce innovative, functional apparel that captures the essence of Teva's heritage was extremely important in our decision. We are excited about our prospects and we look forward to capitalizing on the many opportunities that lie ahead."
Deckers also announced that it has signed a license agreement for headwear in the United States with the Outdoor Cap Company, Inc. The initial license term is through October 2007, with an additional three-year renewal term.
Mr. Otto continued, "Headwear was a logical extension for Teva and we are thrilled with our partnership with the Outdoor Cap Company. We were very impressed with their operations and capabilities, as well as their list of clients which includes other premium brands such as Major League Baseball and Starter, as well as numerous colleges and universities throughout the U.S."
BHPC Global Licensing, the worldwide licensing agent for Deckers Outdoor Corporation, was instrumental in obtaining both license agreements on behalf of Deckers and is currently pursuing additional licensing opportunities for Deckers' Teva, Simple and Ugg brands.
"I truly believe that the Teva name has never been stronger and I look forward to building our relationship with these new licensees," concluded Mr. Otto. "We remain committed to executing a strategy that will result in long-term growth and increased shareholder value."
Deckers Outdoor Corporation builds niche products into global lifestyle brands by designing and marketing innovative, functional and fashion-oriented footwear, developed for both high performance outdoor activities and everyday casual lifestyle use. The Company's products are offered under the Teva, Simple and Ugg brand names.
* Statements in this press release that are not historical facts, including statements about future prospects, long-term growth and shareholder value, are forward-looking statements. Numerous risks and uncertainties could cause the Company's actual results to differ from the results described in the forward-looking statements. Among these risks and uncertainties are conditions in the general economy and in the Company's retail environment, the effect of consumer preferences and other factors discussed in the Company's filings made with the Securities and Exchange Commission. The Company disclaims any obligation to update or revise any of the forward-looking statements in this news release.
SOURCE: Deckers Outdoor Corporation
Deckers Outdoor Corporation Scott Ash, 805-967-7611 or Investor Relations: Integrated Corporate Relations, Inc. Chad A. Jacobs or Brendon Frey, 203-222-9013
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