PR: Bolle North America To Distribute Reusch Gloves
(Oct. 9, 1998)--Bolle Inc. (Nasdaq:BEYE), today announced that as of January 1, 1999, Bolle North America, distributor of Bolle premium eyewear for sports and recreation, has been named the exclusive North American distributor of Reusch winter sports gloves. This was jointly announced by Bolle Inc. President and Chief Executive Officer Gary Kiedaisch and Pier Righi, President of Reusch International GmbH & Co. KG. Reusch winter gloves were distributed in North America by Pentland USA, which will continue North American distribution of Reusch soccer gloves. Historically, Reusch International has sold approximately 2.5-million dollars of winter gloves per year in the North American market.
In making the announcement, both executives said that the Bolle/Reusch distribution agreement is complementary. Bolle's line of premium sunglasses and goggles for skiing and snowboarding and the Reusch line of gloves for winter have much in common.
Reusch has a 40 percent market share of the winter glove market in its native Germany and is one of the top brands worldwide. Bolle is the No. 2 brand worldwide in the sports eyewear category. Both Reusch and Bolle have longstanding commitments to the U.S. Ski Team. Bolle is a member of the Ski Team Pool and Kiedaisch serves on the U.S. Ski Team Board of Trustees. Reusch, whose reputation for performance has been made on race courses around the world, is the official glove of the United States Ski Team through the year 2002.
Mr. Gary Kiedaisch, Chief Executive of Bolle Inc., commented, "Reusch's worldwide positioning is a perfect match for the Bolle brand. During the past year, Bolle has refocused worldwide on its core business of premium eyewear for sports. Our products both enhance and protect the vision of our customers, and Reusch gloves enhance and protect the winter sports experience in much the same way. We both share high technology design and precision manufacturing, and the products are seen in the same category by the consumer."
Mr. Kiedaisch concluded, "This distribution agreement will allow us to test synergies with a related product into our existing customer base and leverage the profitability of our North American distribution unit. The success of this alliance could lead to other profit enhancing opportunities in the future."
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