Sports goods and apparel company Everlast Worldwide has signed a new four-year license deal with Jacques Moret granting the apparel supplier a license for Everlast men's apparel.

The agreement, which comes into effect on 1 January, provides Moret with a license for Everlast men's active wear, sportswear, outerwear and swimwear in the US.

Moret will partner with M Hidary and company for design, development and sales of the active wear portion of the license and the two companies will buy certain men's apparel inventory owned by Everlast and assume other transitional costs associated with the men's business.

Additionally, certain key sales, merchandising and operational personnel will join the new group.
   
Everlast chairman, chief executive and president Seth Horowitz said: "…we came to the conclusion that the company and brand would greatly benefit from licensing the men's apparel category to Jacques Moret, one of the industry's leading suppliers.

"As a result of this agreement, the men's line will benefit from Moret's market relationships and abilities for sourcing."

Horowitz said the company had enjoyed early success with a license for women's apparel granted to Moret late last year.

He added: "Further, we foresee many synergies for Moret in leading both our men's and women's apparel in the US market place.

"Distribution levels of Everlast men's apparel will remain unchanged and will continue to be focused on department and specialty stores, mid-tier department stores as well as sporting goods retailers."

Orders already placed with Everlast for spring and summer men's apparel will be fully shipped as part of a joint operation between Everlast and Jacques Moret during the transition period.

Jacques Moret president Joey Harary said: "We have every belief that we will
be able to put the resources behind Everlast men's apparel that will result in a significant expansion of shelf-space and an increase in Everlast's brand equity.

"we believe this will help our women's business significantly, as well."

The license deal will allow Everlast's management to focus on professional and retail boxing equipment and worldwide licensing businesses as well as keep down costs.