DENVER, CO -- (Marketwire) -- 09/23/09 -- Sport-Haley, Inc. (PINKSHEETS: SPOR) ("Sport-Haley" or the "Company") announced today that it has entered into a licensing agreement with Windsong Brands, LLC ("Windsong"). Windsong has granted Sport-Haley an exclusive long-term license to distribute premium fashion apparel bearing the Como Sport® label in the men's and women's sportswear category, including knits, wovens, sweaters, casual bottoms and outerwear. Como Sport® is a lifestyle sportswear brand steeped in the tradition and a singular passion for quality and excellence, inspired by the active Italian lifestyle that continues to thrive in the Como region of Italy. Como Sport® offerings include men's and women's sportswear, accessories, eyewear, luxury furnishings and handbags throughout the world. Sport-Haley will primarily market Como Sport® fashion apparel to upscale department stores, resorts and specialty stores in the United States of America and its territories, including Puerto Rico, Guam and U.S. Virgin Islands.
Bill Sweedler, Chairman and CEO of Windsong Brands, LLC stated, "We have searched for the perfect partner over the past several months to transition and grow this core category for Como Sport®. Don Jewell and the Sport-Haley team have exceptional expertise and ability. We are very excited to have him as our partner to grow the Como Sport® brand. Don really understands the brand's DNA and is already preparing for a full presentation in late January."
Donald W. Jewell, CEO of Sport-Haley stated, "Our Company has been looking to partner with a genuine lifestyle sportswear brand that fits the mid to premium lifestyle profile and resonates well in the retail market. We believe that Como Sport® will help us further establish relationships we have developed in retail markets and pursue additional strong partnerships moving forward. Como Sport® has high brand awareness and value with consumers, and we look forward to building a stable, long-term business with the Como Sport® label." He added, "We have had preliminary conversations with many of our retail customers, and those that we have spoken with are excited about this new offering from Como Sport®."
Mr. Steve Barr will become Director of Sales of the Company's retail division, which will be based out of Denver, Colorado at the Sport-Haley headquarters. Mr. Barr stated, "Como Sport® has tremendous brand equity and will be great to further enhance the retail channel of distribution for Sport-Haley. I'm excited by the feedback on Como Sport® I've already received, and I'm looking forward to our launch in January."
ABOUT SPORT HALEY
Sport-Haley, Inc. designs, purchases, contracts for the manufacture of and markets women's and men's fashion golf apparel and outerwear under the SPORT HALEY®, Ben Hogan® and Como Sport® brands. The SPORT HALEY® and Ben Hogan® fashion golf apparel collections, known for their innovative designs, quality fabrics, generous fits and classic styles, are primarily marketed in the premium and mid-priced markets, through a network of independent sales representatives, to golf professional shops, country clubs, resorts and exclusive department and specialty stores within the United States. The Ben Hogan® and Como Sport® fashion apparel brands are distributed pursuant to licensing agreements with Callaway Golf Company and Windsong Brands, LLC, respectively.
ABOUT WINDSONG BRANDS, LLC
Windsong Brands, LLC (www.windsongbrands.com) is private equity firm that focuses on investments in leading middle-market consumer companies that own strong recognizable brands. Windsong invests in brands that maintain a positive emotional connection with consumers. The Windsong team has a diverse background of consumer expertise that assists and guides company management to unlock the true potential of their brand. Windsong also makes majority and minority investments in both public and private companies. Windsong's investments and portfolio brand companies include Como Sport, Ellen Tracy, Caribbean Joe, Joe's Jeans, Field & Stream, The Sharper Image, Carlos Falchi and Atlantis Weathergear.
SAFE HARBOR STATEMENT
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: When used in this release, the words "may," "will," "expect," "anticipate," "continue," "estimate," "project," "intend," "believe," and similar expressions, variations or the negative of these words, and any statement regarding possible or assumed future results of operations of our business, the markets for our products, anticipated expenditures, regulatory developments or competition, or other statements regarding matters that are not historical facts, are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. The reader should be aware that our actual results could differ materially from those contained in forward-looking statements. Our financial condition and the results of our operations will depend on a number of factors, including, but not limited to, the following: successfully anticipating fashion trends, designing favorably accepted fashion golf apparel, effectively advertising and communicating within the marketplace, and penetrating our chosen distribution channels; competition within golf apparel markets; business conditions and growth in the fashion golf apparel market and the general economy; our ability to successfully forecast sales and optimize inventory levels; our ability to successfully manage risks associated with the trend of a high relative percentage of sales with respect to licensed apparel, such as the Ben Hogan® apparel collections; loss of certain third party suppliers, and/or delays in receiving garments from third party suppliers caused by various factors, including lost or reduced manufacturing capacity or significant suppliers, labor shortages, timely performance of third parties, transportation difficulties, and others; significant delays in deliveries from third party suppliers; unsatisfactory recourse with regard to nonconforming goods received from foreign suppliers; political and international trade relations; changes in international trade quota systems for apparel; significant reliance upon several individual foreign suppliers; reliance upon a certain foreign person responsible for maintaining relationships with and monitoring the performance of certain of our significant foreign suppliers; consumer spending on golf apparel; general global economic and political conditions resulting from threats or acts of war or terrorism and responses thereto; access to capital; maintaining satisfactory relationships with commercial banking institutions; establishing controls with regard to and maintaining the integrity of technology and information systems; and, reliance upon executive officers and key employees. There may be other factors not mentioned above that may cause actual results to differ materially from any forward-looking statement. The reader should not place undue reliance on any forward-looking statement. Neither the Company nor any of its corporate officers or key employees assumes any obligation to update any forward-looking statement as a result of new information, future event or development, except as required by securities laws.