USA: Deckers Signs Two Licensing Deals For Teva Brand
The company said it has signed a licensing deal with Capital Mercury Apparel Ltd which will see the New York-based firm design and market Teva men's sportswear.
Financial details were not revealed but the deal is for four years with distribution targeted at better department stores, specialty outdoor retailers and sporting goods stores.
Chairman and CEO, Douglas Otto, said: "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 capitalising on the many opportunities that lie ahead."
Deckers added 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.
"Headwear was a logical extension for Teva and we are thrilled with our partnership with the Outdoor Cap Company," Otto continued.
"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 US."
He added its worldwide licensing agent, BHPC Global Licensing, was instrumental in obtaining both license agreements and is currently pursuing additional licensing opportunities for Deckers' Teva, Simple and Ugg brands.
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