UNDER ARMOUR ANNOUNCES ACCESSORIES AGREEMENT
UNDER ARMOUR ANNOUNCES ACCESSORIES AGREEMENT
May 1, 2003 at 12:00 AM EDT
UNDER ARMOUR ANNOUNCES ACCESSORIES AGREEMENTUnder Armour® Performance Apparel announced today that it has reached a licensing agreement with JR286 to manufacture and distribute Under Armour® accessories. Under Armour® will provide JR286 with exclusive rights to the Under Armour® trademarks and all of Under Armour's accessories. Under Armour® will provide final approval on all business decisions related to accessory design, marketing, and distribution.
"This strategic alliance allows for the sustained expansion of Under Armour® accessories to all of our sales channels, while continuing to positively effect our bottom line by concentrating our internal efforts on performance apparel - our core competency," said Bill Kraus, Vice President of Licensing for Under Armour® Performance Apparel. "Motivated by consumer demand for our products, this agreement allows us to deliver some of our most desired items to our customer while simultaneously building Under Armour's relationships with key retailers."
With JR286 responsible for all aspects of the accessory business - including sales and distribution - its efforts will provide a powerful layer to Under Armour's existing sales structure. JR286 will mirror Under Armour's current sales and distribution model by channeling to key retail accounts, independent dealers, team dealers, international and online outlets. As part of the agreement, Under Armour® will promote the licensed accessories with its existing and current accounts through various advertising and promotional activities, including a presence at the sporting goods industry's premier trade show, the Super Show.
The current line of Under Armour® branded accessories includes hats, bags, wristbands, headbands and water bottles. By licensing these products, JR286 can develop additional branded accessories in the future, pending Under Armour's final approval. With an increased focus on apparel, Under Armour® is scheduled to launch numerous new products in the upcoming year.
"This strategic alliance allows for the sustained expansion of Under Armour® accessories to all of our sales channels, while continuing to positively effect our bottom line by concentrating our internal efforts on performance apparel - our core competency," said Bill Kraus, Vice President of Licensing for Under Armour® Performance Apparel. "Motivated by consumer demand for our products, this agreement allows us to deliver some of our most desired items to our customer while simultaneously building Under Armour's relationships with key retailers."
With JR286 responsible for all aspects of the accessory business - including sales and distribution - its efforts will provide a powerful layer to Under Armour's existing sales structure. JR286 will mirror Under Armour's current sales and distribution model by channeling to key retail accounts, independent dealers, team dealers, international and online outlets. As part of the agreement, Under Armour® will promote the licensed accessories with its existing and current accounts through various advertising and promotional activities, including a presence at the sporting goods industry's premier trade show, the Super Show.
The current line of Under Armour® branded accessories includes hats, bags, wristbands, headbands and water bottles. By licensing these products, JR286 can develop additional branded accessories in the future, pending Under Armour's final approval. With an increased focus on apparel, Under Armour® is scheduled to launch numerous new products in the upcoming year.