Here is some news about the competition.
Woolworth Corporation Forms Strategic Alliance with Champion
PR Newswire - March 18, 1998 10:54
Champion Athletic Shoes Available at Foot Locker and Champs Sports
for Back-to-School '98
NEW YORK, March 18 /PRNewswire/ - Woolworth Corporation (NYSE: Z), the
New York-based retailer, and Champion Products, a division of Sara Lee
Corporation (NYSE: SLE) jointly announced today the formation of a strategic
alliance, whereby Champion has granted Woolworth Corporation exclusive
licensing rights for athletic footwear. Woolworth Corporation will design,
manufacture and retail five categories of athletic shoes -- running,
basketball, tennis, cross-training and football -- under the Champion brand
name.
The Champion footwear collection will be available nationwide exclusively
at Foot Locker and Champs Sports for Back-to-School '98. In addition, the
athletic shoes will be available in catalog through Foot Locker Direct.
"High-quality athletic shoes are a natural extension of our product line,
enabling Champion to outfit athletes from head-to-toe," said Michael Flatow,
President of Champion Products. "By partnering with the Woolworth
Corporation, Champion athletic shoes will have instant nationwide distribution
at both Foot Locker and Champs Sports, and Champion branded apparel will re-
enter these key retail destinations."
In addition to the athletic footwear collection, Foot Locker will carry an
assortment of Champion branded apparel in its larger format stores in key
markets across the country and Champs Sports will carry exclusive Champion
branded apparel at select stores nationwide for Back-to-School '98.
Currently, Champion licensed apparel is available at select Foot Locker and
Champs Sports stores nationwide.
"Woolworth will design, manufacture and retail the athletic footwear line
under the Champion brand name," said Dale Hilpert, President and Chief
Operating Officer of the Woolworth Corporation. "By working with Champion, we
are building our portfolio of exclusive, high-quality brands and positioning
Foot Locker and Champs Sports as retail destinations."
The quality choice of athletes from practice to competition for over
seventy-five years, Champion Products, a division of Sara Lee Corporation, is
an official supplier to the National Basketball Association (NBA) and major
collegiate teams, the official supplier of practicewear to the National
Football League (NFL) and Major League Baseball (MLB), and the exclusive
apparel outfitter of the Women's National Basketball Association (WNBA).
Based in Winston-Salem, North Carolina, Champion offers a full range of
branded, licensed and collegiate apparel, socks, underwear, and athletic bags.
Woolworth Corporation is a diversified global retailer that operates over
7,200 retail stores in 12 countries in North America, Europe, Australia and
Asia. Through its athletic group of specialty retail formats, including Foot
Locker, Lady Foot Locker, Kids Foot Locker and Champs Sports stores as well as
its direct marketer Eastbay, the company is a leading provider of athletic
footwear and apparel. Other specialty retail chains include the Northern
Group of apparel stores, Afterthoughts jewelry stores and Kinney family shoe
stores.
Disclosure Regarding Forward-Looking Statements
This press release contains forward-looking statements which reflect
management's current views of future events and financial performance. These
forward-looking statements are based on many assumptions and factors including
the effects of currency fluctuations, consumer preferences and economic
conditions world-wide. Any changes in such assumptions or factors could
produce significantly different results.
SOURCE Woolworth Corporation
/CONTACT: Juris Pagrabs, Vice President of Investor Relations, of
Woolworth Corporation, 212-553-7017; or Nicole Blake of Champion Products,
212-549-8690/
/Company News On-Call: prnewswire.com or fax, 800-758-5804,
ext. 120620/
(Z SLE) |
