O'Neill and Orange 21 Sign a Global Licensing Deal to Launch New Eyewear Line.
Michael Neil, O'Neill's Global Head of Brand Development & Licensing, is excited about this new development for the brand; "Due to O'Neill's integral connection with the beach and snow lifestyle, eyewear is a natural extension for O'Neill and who better to team up with than the experts at Orange 21. They have proven competence in the eyewear category, which they have successfully gained over the last 15 years with SPY OPTIC."
The sunglass line is expected to be released in March 2010 for Spring 2010 delivery and is expected be formally unveiled at the January 2010 Action Sports tradeshows in San Diego, California and Orlando, Florida.
The snow goggle line is expected to be released at the SIA show in Denver, Colorado and ISPO in Munich, Germany. The snow goggle product line is expected to be available for delivery in August of 2010 for 2010/11 snow season sales. All products will be distributed through O'Neill retail stores and O'Neill's existing dealer network among other channels.
"The convergence of two great brands is not only a story of success in a tough economy, it also signals an amazing level of respect and competency when the leading wetsuit brand pairs up with the leading action sports eyewear brand to produce a line," said Stone Douglass, CEO of Orange 21. "Given the two brands' reputations for quality products in the marketplace, it's safe to say that we expect a huge success with O'Neill eyewear."
"The strength of the O'Neill brand makes for a very attractive partnership between our two companies," said Matt Harkins, Orange 21 Brand Manager, "Like the amazing products that O'Neill develops, we make products that support and protect life out in the elements of nature. The variety in the O'Neill brand has made it an authentic fixture in sport, fashion and board sports culture. This eyewear line is a continuation of that O'Neill story and we are honored to be a part of it."
O'Neill, the original California surf, snow and lifestyle brand, was founded in 1952 when a young man named Jack O'Neill took his unstoppable passion for surfing and used it to beat Mother Nature at her own game. Pioneering the world's first neoprene surf wetsuit, Jack had successfully found a way to extend his surf sessions in the bone-chilling breaks of Northern California. He opened up the garage doors to his first surf shop soon after.
While many things have changed since those humble beginnings, Jack's initial vision of producing functional and innovative board riding products continues to lie at the core of everything the company does. O'Neill's set of core values - innovation in style and technology - has seen the brand devote itself wholeheartedly to the evolution of action sports. From the first neoprene surf wetsuit and board leash, to the world's first stitchless board shorts and range of groundbreaking wearable electronics, O'Neill's spirit of innovation will always drive the company forwards.
Today, O'Neill can be found the world over. In touch with its rich heritage and the universal appeal of board riding culture, O'Neill will always be committed to growing its reputation as one of the world's leading youth lifestyle brands based on a unique half-century of history as the First Name in the Water.
About Orange 21 Inc.
Orange 21 designs, develops, markets and produces premium products for the Action Sport, Motorsports, Snowsports and youth lifestyle markets. Orange 21's primary brand, Spy Optic (TM), manufactures sunglasses and goggles targeted toward the action sports, motorsports, snowsports and youth lifestyle markets.
Safe Harbor Statement
This press release contains forward-looking statements. These statements relate to future events or future financial performance and are subject to risks and uncertainties. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "feel," "estimate," "predict," "potential" or "continue," the negative of such terms or other comparable terminology. Specifically, comments in this press release regarding the expected release dates for the O'Neill sunglass and snow goggle lines, the expected success of the O'Neill eyewear line and the strength of the partnership between Orange 21 and O'Neill, are forward-looking statements and are subject to inherent risks. These statements are only predictions. Actual events or results may differ materially. Factors that could cause actual results to differ from those contained in the forward-looking statements include, but are not limited to: the general conditions of the domestic and global economy, changes in consumer discretionary spending; changes in the value of the U.S. dollar, Canadian dollar and Euro; changes in commodity prices; our ability to source raw materials and finished products at favorable prices; risks related to the limited visibility of future orders; our ability to continue to develop, produce and introduce innovative new products in a timely manner; our ability to identify and execute successfully cost-control initiatives without adversely impacting sales; the performance of new products and continued acceptance of current products; our execution of strategic initiatives and alliances; uncertainties associated with intellectual property protection for our products; and other risks identified from time to time in our filings made with the U.S. Securities and Exchange Commission. Although, we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results. Moreover, we assume no responsibility for the accuracy or completeness of such forward-looking statements and undertake no obligation to update any of these forward-looking statements.
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|Date:||Sep 11, 2009|
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