| MANHATTAN BEACH, Calif., Jan 15, 2002 (BUSINESS WIRE) -- SKECHERS USA, Inc.
(NYSE:SKX), a global leader in the lifestyle footwear industry, today announced
that it has signed an exclusive worldwide licensing agreement with Britney
Spears for its 4 Wheelers(TM) roller skate line. Under the three-year agreement,
SKECHERS will have the right to advertise and sell a Britney Spears collection
of 4 Wheelers(TM) and skate accessories in the United States and throughout the
world.
The 4 Wheelers(TM) license continues SKECHERS' successful relationship with
Britney Spears, which was first established by an agreement to endorse and
promote SKECHERS athletic footwear in international print ads from January 2001
through June 2002.
"We strongly believe our Britney Spears international print campaign in 2001 was
an important catalyst behind our international growth," stated Robert Greenberg,
SKECHERS' CEO and chairman of the board. "In 2001, the Company's international
business has grown by approximately 50 percent. Over the past year, consumers in
key markets -- from England, Germany and France to Japan, Australia and the
Philippines -- repeatedly asked retailers for `the Britney shoe,' the jogger she
wears in the SKECHERS international ads. To us, this is obvious proof that
Britney Spears is a tremendous spokesperson for SKECHERS."
Greenberg continued: "It was natural to broaden her impact on the Company's
business to the United States and reach more consumers overseas through a new
agreement promoting Britney Spears 4 Wheelers(TM), SKECHERS' hot, hip line of
roller skates. We think the Britney Spears collection of 4 Wheelers(TM) will
result in consumers worldwide requesting `the Britney skate,' which we believe
will fly off the shelves as people roll out of the stores."
The Britney Spears collection of 4 Wheelers(TM) is fashioned after the Company's
4 Wheelers by SKECHERS(TM) line of technical fashion roller skates, which have
appealed to a wide consumer base, including kids, teens, young professionals and
celebrities. Launched in U.S. stores in fall 2001 and now distributed worldwide,
the skates' unique styling, marketing and pricing have sparked a new enthusiasm
among consumers for roller skating.
Greenberg concluded: "Britney, whose international appeal to men and women of
all ages, continues to grow as her career further develops. She is a vibrant and
vivacious talented young woman and she's the perfect person to promote the fun 4
Wheelers(TM) line."
Financial terms of the agreement were not disclosed. Details specific to the
Britney Spears 4 Wheelers(TM), including the design, marketing, availability and
distribution, were not available at the time of this announcement.
SKECHERS USA, Inc. a Manhattan Beach-based company, designs, develops and
markets lifestyle footwear for men, women and children. The Company offers a
balanced assortment of basic and fashionable merchandise available in department
stores and specialty retailers, as well as directly to consumers through
company-owned SKECHERS stores, mail order and e-commerce. A global concept, the
Company sells its product in more than 100 countries and territories throughout
the world. For further information on SKECHERS, please visit the Company's Web
site at www.skechers.com or call the SKECHERS investor information line at
877-INFO-SKX.
Britney Spears' official Web site is www.britneyspears.com.
This announcement may contain forward-looking statements, which are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995, which can be identified by the use of forward-looking
terminology such as "may," "will," "believe," "belief," or other comparable
terminology. These forward-looking statements involve risks and uncertainties
that could cause actual results to differ materially from those projected in
forward-looking statements and reported results shall not be considered an
indication of the Company's future performance. Factors that might cause or
contribute to such differences include, among others, a decrease in sales during
the back-to-school or holiday selling season, change in consumer demands and
fashion trends, potential disruptions in manufacturing related to overseas
sourcing, cancellation of order commitments and decreased demand by industry
retailers, and the inability to sustain prior growth and other factors affecting
retail market conditions, including the events of September 11, 2001 and
uncertainties related to the ongoing conflict.
CONTACT: SKECHERS USA, Inc.
Kelly O'Connor, 310/318-3100 (Media)
kellyo@skechers.com
or
Integrated Corporate Relations
Allison Malkin, 203/222-9013 (Investors)
or
for Britney Spears
Lisa Kasteler of Wolf Kasteler, 310/205-0618
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