Monday, September 21, 2009

O'Neil will start to sell snow goggles and sunglasses in March 2010

O’Neill and Orange 21 (NASDAQ:ORNG) are pleased to announce an agreement whereby Orange 21 will design and develop O'Neill Eyewear under a license agreement. The agreement sees Orange 21 working closely with O’Neill’s designers to design, develop, market and sell O’Neill branded sunglasses and snow goggles expected to launch to market in March 2010.

Michael Neil, O’Neill’s Global Head of Brand Development & Licensing, is excited about this new development for the brand; "Due to O'Neill's integral connection with the beach and snow lifestyle, eyewear is a natural extension for O'Neill and who better to team up with than the experts at Orange 21. They have proven competence in the eyewear category, which they have successfully gained over the last 15 years with SPY OPTIC."

The sunglass line is expected to be released in March 2010 for Spring 2010 delivery and is expected be formally unveiled at the January 2010 Action Sports tradeshows in San Diego, California and Orlando, Florida.

The snow goggle line is expected to be released at the SIA show in Denver, Colorado and ISPO in Munich, Germany. The snow goggle product line is expected to be available for delivery in August of 2010 for 2010/11 snow season sales. All products will be distributed through O'Neill retail stores and O’Neill’s existing dealer network among other channels.

"The convergence of two great brands is not only a story of success in a tough economy, it also signals an amazing level of respect and competency when the leading wetsuit brand pairs up with the leading action sports eyewear brand to produce a line," said Stone Douglass, CEO of Orange 21. "Given the two brands' reputations for quality products in the marketplace, it's safe to say that we expect a huge success with O'Neill eyewear."

"The strength of the O'Neill brand makes for a very attractive partnership between our two companies," said Matt Harkins, Orange 21 Brand Manager, “Like the amazing products that O’Neill develops, we make products that support and protect life out in the elements of nature. The variety in the O'Neill brand has made it an authentic fixture in sport, fashion and board sports culture. This eyewear line is a continuation of that O’Neill story and we are honored to be a part of it."

No comments: