Pacific Vector Signs Licensing Agreement with Street League, INC.
Company to Open Street League Branded Retail Experience
(firmenpresse) - SAN DIEGO, CALIFORNIA and TORONTO, ONTARIO -- (Marketwired) -- 07/22/13 -- Pacific Vector Holdings Inc. (TSX VENTURE: PVH) ("Pacific Vector" or the "Company") The Board of Directors of Pacific Vector is pleased to announce today that the Company has signed a licensing agreement ("Agreement") with Street League, INC. ("SLS") to open retail stores under the SLS banner and to manage the SLS e-commerce business.
Pursuant to the Agreement, Pacific Vector has licensed the exclusive worldwide right to develop "Street League" branded brick and mortar retail stores and to sell Street League branded products through these stores. In exchange for these rights, Pacific Vector has agreed, amongst other things, to pay SLS a royalty based on net sales from the stores.
"The Street League brand is synonymous with quality and excitement," said Robert Reynolds, Chief Executive Officer of Pacific Vector Holdings, Inc. "This exclusive, new partnership will harmoniously blend the Street League skateboarding experience with world class brands and athletes to create a unique retail experience."
"The partnership between Pacific Vector Holdings and Street League to create an authentic retail store experience is an extremely exciting project to be a part of. I'm looking forward to working with the team over at Street League to create a key retail player in the core skate and lifestyle market," said Chad Foreman, President of brands at Pacific Vector Holdings.
"We are thrilled at the retail opportunity with Pacific Vector," says Street League General Manager Brian Atlas. "We are looking forward to creating a premium retail experience with Pacific Vector that is centered on providing customers with the best brands from street skateboarding as well as showcasing all the signature products from the most elite pros."
Pacific Vector Holdings plans to launch the SLS e-commerce platform and open its first SLS store by late 2013.
About Street League, INC. (SLS) is the first-ever professional league for street skateboarding. The SLS Nike SB World Tour features 20 of the world's most exciting street skateboarders competing in an easy-to-follow, instant scoring format on one-of-a- kind concrete skate plazas, all for the largest prize purse in skateboarding history.
About Pacific Vector
Pacific Vector is a premier action sports retail and consumer brands company.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Pacific Vector assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Pacific Vector.
Contacts:
Investor Relations:
Pacific Vector Holdings Inc.
Mark Di Cristofaro
Brand/Licensing Opportunities:
Pacific Vector Holdings Inc.
Chad Foreman
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Datum: 22.07.2013 - 08:14 Uhr
Sprache: Deutsch
News-ID 1247456
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Fashion
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