ASICS Corp. to distribute AIRWALK footwear and snowboarding products in Japan; sophisticated ASICS distribution system to provide major impetus to the growth of the AIRWALK brand in Japan.

KOBE, Japan--(BUSINESS WIRE)--Feb. 26, 1997--At an announcement made today in Kobe, Japan, ASICS Corp. and AIRWALK executives jointly launched an association that will springboard the well-known U.S. youth lifestyle brand to new heights in Japan.

Effective immediately, the $1.6 billion Japanese corporation will assume distribution rights for AIRWALK footwear and all AIRWALK products associated with the sport of snowboarding.

According to AIRWALK division president, Lee Smith, the snowboarding category will include boots, snowboards, bindings, snowboarding apparel and accessories. Smith was joined at the announcement in Kobe by George Yohn, chief executive officer of Items International Inc., the worldwide rights holder to the AIRWALK brand.

"We're very excited about this new opportunity in Japan as we see the relationship between our two organizations as being equally beneficial. While AIRWALK addresses a need for providing a vital, youthful brand to the ASICS system, their professionalism and strength in Japan offers us a huge boost," said Smith.

ASICS is one of the world leaders in athletic footwear, and brings a nearly 40-year history of Japanese market presence to the new arrangement.

The announcement today follows yesterday's announcement that AIRWALK has also signed an apparel licensing contract for Japan with ITOCHU Corp. That agreement covers casual apparel and accessories for items not part of the sport of snowboarding.

"This has been a busy, and quite successful week for AIRWALK in Japan," said Smith. "There is little doubt that the brand will now be guided by marketing partners that will play a key role in the growth of our Asian business."

AIRWALK's brand presence in the United States, and the often-times "edgy" position it has taken in its promotional activities have earned the company kudos as well as substantial sales growth, which went over the $250 million mark in 1996. This April, AIRWALK will receive honors as Footwear Marketer of the Year, as determined by Footwear Industries of America, Footwear Distributors and Retailers of America, and Footwear News.

Last Fall, the brand was recognized as the 13th "coolest" brand among all brands (including shoes, cars, beverages, video games, etc.) by teens, the primary consumer target, according to Teenage Research Unlimited. This represents a jump of nearly 10 positions from a study conducted the year prior.

"There's no doubt about the brand's credibility in other markets," said Smith. "And after today, there won't be any doubt in Japan, either."

CONTACT: Freeman/McCue

Doug Freeman, 714/557-3663