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GOLETA, Calif.--(BUSINESS WIRE)--July 1, 2004--Deckers Outdoor Corporation (NASDAQ: DECK) today announced that it has entered into a license agreement with David Peyser Sportswear, Inc. for the sale of UGG Australia branded outerwear in the United States. Under the terms of the agreement, David Peyser Sportswear, Inc. will design, manufacture and market UGG Australia Outerwear, to be sold in better department stores and independent specialty stores. The initial term for the license is through December 2007, with an additional option for a three-year renewal.
David Peyser Sportswear, Inc., a family owned and operated supplier of outerwear and sportswear since 1948, is the parent company of Weatherproof Garment Co.(R) Weatherproof is a leader in the design of outerwear, including its exclusive 5-times sandwashed microfiber, microsuede, micro-oxford, and micro-shearling fabrics.
Doug Otto, President and Chief Executive Officer of Deckers Outdoor Corporation, stated "We are extremely pleased to announce this license agreement for UGG Australia. David Peyser Sportswear, Inc. is a leading manufacturer of high-end outerwear with a successful history of introducing new and innovative product to the marketplace. With established distribution at top retailers, we believe David Peyser Sportswear, Inc. represents an excellent partner to further the brand's position in the luxury goods sector. This agreement is another step in our continuing efforts to expand on the popularity and success of our UGG Australia brand. We remain committed to increasing value for our stockholders and capitalizing on the many opportunities that lie ahead."
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 opportunities and the Company's ability to successfully extend its UGG Australia name to outerwear and other products, 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.
CONTACT: For: Deckers Outdoor Corporation Scott Ash, 805-967-7611 or: Investor Relations: Integrated Corporate Relations, Inc. Chad A. Jacobs/Brendon E. Frey, 203-222-9013 SOURCE: Deckers Outdoor Corporation