The Company was incorporated in 1981 under the laws of the State of
Utah. The Company's principal executive offices are located at 1070 West 2300
South, Salt Lake City, Utah 84119 and its telephone number is (801) 972-2100.
Products
Ski Bindings
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The Company designs, develops, manufactures and distributes ski
bindings consisting of more than 25 high quality models. The models range from
high performance racing models, such as the Logic CP Biometric M9.1 Turbo SC
RacingTM and other top-end models featuring the Company's patented Selective
Control SystemTM, BiometricTM Programmed Upward Release and Comshock PistonTM,
to the children's M9 model. Suggested retail prices in the United States of such
models range from $120 to $395.
In addition to a ski binding's primary function of attaching a ski to a
ski boot, the binding serves as a safety mechanism. The timing of a binding's
release mechanism is significant in both its retention and release functions.
When a skier applies an amount of force to a ski binding that exceeds the safety
setting of the binding, the binding is designed to release the ski boot from the
ski in order to decrease the risk of injury to the skier. Therefore, a binding
must be designed to recognize specific levels of force exerted against it.
Marker bindings feature LogicTM, BiometricTM, Edge Pressure SystemTM
and Gliding AFDTM technology. The Company's patented technology tightly couples
the ski boot and binding, resulting in a binding system that is designed not to
be affected by contamination between the ski boot and binding and provide more
power to the ski, less fatigue to the skier.
Soft Goods
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The Company designed, distributed and marketed apparel for adults,
gloves and ski and non-ski luggage. The Company's clothing line featured
quality, functional and versatile performance wear for year-round sports and
recreational activities available at a wide range of prices.
The Company's apparel lines, gloves and luggage were sold year round to
retailers mainly in the United States through Marker Ltd.'s own sales force.
In October 1995, Marker Ltd. was selected by the Salt Lake Olympic
Organizing Committee for the 2002 Olympic Winter Games ("SLOC") as a licensee
for the sale of winter outerwear, polar fleece, luggage and gloves with the
imprint and embroidery of the 2002 Olympic Winter Games. In February 1996,
Marker Ltd. was selected as a licensee for sale of T-shirts, sweatshirts, golf
shirts and related apparel with the imprint and embroidery of the 2002 Olympic
Winter Games.
Effective April 1, 1999, the Company licensed Ski & Sports Recreation
Company, L.L.C. to manufacture and sell apparel, luggage and gloves utilizing
the Marker trademark.
Marketing
The Company actively advertises and markets its products. The Company
spends the majority of its advertising budget on advertisements in ski
magazines, such as Skiing Magazine, Ski Magazine and Powder Magazine in the
United States, and similar magazines in foreign markets.
To increase brand recognition, in addition to offering technologically
advanced bindings, the Company aggressively markets the Marker brand name. To
influence its presence in retail shops, the Company devotes resources to
maintaining and improving its relationships with retailers and shop personnel so
that they will use Marker products and recommend them to their retail customers.
In this regard, the Company, through its sales force, conducts in-shop sales
clinics. In addition, the Company, as part of the United States Authorized
Retailer Program, requires that all authorized retail shops employ a technician
who has been trained and certified by the Company concerning the installation
and adjustment of Marker bindings. Additionally, the Company sells its bindings
to the sales staff of its retailers and to professional skiers at special prices
so that they will be able to recommend the Company's products as a result of
personal experience.
To foster the recognition of the Marker brand name, the Company also
establishes endorsement relationships with national ski teams and racing
professionals. These endorsement contracts typically run from one to two years
and provide for a base payment to the racer, with additional payments for
placing in a competition. Racers using and endorsing Marker bindings have been
among the winners in World Cup, World Championship and Olympic competitions.
Many of the United States' best-known skiers, including 1998 Olympic Super G
Gold medalist Picabo Street, three-time World Cup Champion and Olympic Gold
medalist Phil Mahre, World Champions Steve Mahre and Tamara McKinney and Olympic
Gold medalist Stein Eriksen, endorse and use Marker bindings. Skiers endorsing
and using Marker bindings, as in prior years, were very successful in the 1999
Alpine Ski World Championship held in Vail, Colorado in February 1999, winning 4
Gold, 4 Silver and 2 Bronze medals out of 10 events.
Skiers endorsing and using Marker bindings also excelled in the season
long 1999 FIS World Cup competition. Alexandra Meissnitzer of Austria is the
1999 Women's Overall World Cup Champion, as well as the 1999 World Cup Giant
Slalom and Super G Champion. Athletes endorsing and using Marker bindings won
many World Cup trophies again in 1999 on the World Cup circuit. These athletes
scored 24 wins, finished second 21 times and finished third 18 times out of 69
World Cup events (33 men, 36 women) in 1999. The Company believes that winning
World Cup, World Championship and Olympic competitions at places like St. Anton,
Sestrieres and Vail increases the Company's visibility in the marketplace.
Marker engineers also use these competitions as opportunities to work with the
Marker skiers to develop new products and to test and refine prototypes, with
the goal of benefiting skiers of all levels. |
