MEDIA RELEASE PR40616
K-Swiss Acquires FORM Athletics, Appoints Mark Miller President of New Orange County Division
WESTLAKE VILLAGE, Calif., July 29 /PRNewswire-AsiaNet/ --
California Sports Company K-Swiss (Nasdaq: KSWS) announced today the
acquisition of Laguna Beach-based FORM Athletics. Terms of the deal were not
disclosed.
FORM Athletics will operate as a division of K-Swiss led by Mark Miller,
FORM's incumbent founder and CEO. Under the agreement, Miller will become
President of FORM Athletics, and has also been appointed President of K-Swiss
Orange County (KSOC), where he will establish and lead a new division of the
brand focused on the youth consumer. A force in the action sports industry,
Mark Miller has built businesses for iconic brands for nearly three decades,
launching M3 Snowboards in 1996, and more recently, playing a key role in the
growth of DC Shoes, as SVP and General Manager in the Americas Region.
"Mark has incredible experience leading some of the most prominent action
sports companies in history, and we are confident that he will create a
progressive and successful program for K-Swiss," said Executive Vice
President of K-Swiss, David Nichols. "FORM plays well as a growth opportunity
for our portfolio as Mixed Martial Arts is one of the fastest growing, and
most relevant new markets in sports today. Viewership and participation in
Mixed Martial Arts events is explosive, as is the market for Mixed Martial
Arts consumer brands."
Miller launched FORM Athletics in early 2010 in conjunction with MMA/WEC
athlete and former Featherweight Champion Urijah Faber. The brand has quickly
established itself as a successful and progressive Mixed Martial Arts (MMA)
and lifestyle brand with a distinct surf-and-skate inspired aesthetic. Since
its January debut, FORM has formed a global fan following, adding powerhouse
athletes including Mark Munoz, Joseph Benavidez, and Jon "Bones" Jones to its
roster.
Miller says, "In my discussions with K-Swiss, it became obvious that the
companies share brand values. There are many synergies and benefits to FORM
being part of the K-Swiss portfolio and part of a growth oriented and well
financed public company, such as global distribution, the opportunity for
product line expansion, SAP as the ERP, a great warehouse, and a very
professional backend team to manage our finances and operations. These are
essential tools to run and grow a successful company and build a brand."
In addition to overseeing the growth and future product line extensions
of FORM Athletics, Miller will be charged with forming the strategic
architecture of the KSOC youth division, guiding overall design direction,
sales structure and brand direction. He will also steer youth marketing
communications programs and interface with the brand's athlete, entertainment
and music initiatives.
"My vision for this division is to create something completely authentic
and extremely relevant to reach the younger consumer. We will merge the
history of K-Swiss with the wants and needs of our target customer, in a
unique way," said Miller. "K-Swiss has an incredible 44-year history and it's
the job of this new division to tell that story in a way that is meaningful
to both consumers and retailers from a branding and product perspective."
About K-Swiss
Founded more than forty years ago in Van Nuys, California, K-Swiss
(NASDAQ: KSWS) introduced the first all-leather tennis shoe, the K-Swiss
"Classic" in 1966. Since its inception, K-Swiss has rooted itself in
California Sport with an aim to be the most inspiring and innovative sports
brand in the market. Today the company offers performance and lifestyle
footwear and apparel for several categories under its California Sports
umbrella including Tennis Heritage, California Fit (Running, Triathlon and
Fitness) and California Youth. K-Swiss also designs, develops and markets
footwear under the Palladium brand, and owns the FORM Athletics brand. For
Founded in 2010 in Laguna Beach, CA, FORM Athletics is a division of
K-Swiss. The clean athletic style of FORM apparel ties directly back to the
brand ethos, and promise to promote and celebrate the athletes' commitment
and dedication to their sport. FORM Athletics values athleticism not
aggression. FORM Athletics supports and promotes a healthy and active
lifestyle. Founded by sportswear veteran Mark Miller and WEC former
Featherweight Champion Urijah Faber, FORM Athletics merges the ease and
comfort of the California lifestyle, with the discipline and techniques of
martial arts. FORM Athletics is committed to premium quality, superior
materials, and perfect fit apparel. More on FORM Athletics at:
Certain matters discussed in this press release are subject to certain
risks and uncertainties that could cause actual results to differ materially,
including, but not limited to: non-achievement of the assumptions discussed
herein, general and regional economic conditions, industry trends,
merchandise trends, including market acceptance of the Company's product
offerings, customer demand, competition, dependence on large customers and
credit concentrations, order cancellations and reduced sales resulting from a
deepening of the current worldwide recession. A complete description of these
factors, as well as others which could affect the Company's business, is set
forth in the Company's periodic filings, including its Form 10-Q for the
quarter ended March 31, 2010, which is currently on file with the SEC.
SOURCE: K-Swiss
CONTACT: Investor Relations,
George Powlick,
+1-818-706-5100,
or Media,
Jennifer Macfarland,
+1-818-706-5136,
JMacfarland@K-Swiss.com,
both of K-Swiss;
or Mariana Singer,
+1-212-889-1700,
Mariana@turnerpr.com,
for FORM Athletics;
or Piney Kahn,
+1-503-260-8697,
Piney@themilkmilk.com,
for K-Swiss
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