FOOTHILL RANCH, Calif., Aug. 4, 2004 (PRIMEZONE) -- Oakley, Inc. (NYSE:OO) today announced that it plans to open a product showroom located in the SoHo district of New York in the third quarter of 2004.
The following photos accompany this release: Mens Apparel Fall 2004 http://www.primezone.com/newsroom/prs/?pkgid=1141 Womens Apparel Spring 2005 http://www.primezone.com/newsroom/prs/?pkgid=1144 http://www.primezone.com/newsroom/prs/?pkgid=1145
"We believe that SoHo is the ideal area to showcase our brand and provide support for our sales force and media contacts in New York," commented Oakley President Colin Baden. "This showroom will enable our sales force and media relations team to merchandise Oakley's entire product line with a strong emphasis on footwear and apparel. The creativity and unconventional thinking of the SoHo district will offer a strong synergy with the art and invention of our brand."
Located at 480 Broadway between Grand and Broome Streets, the location will serve as a sales tool and a media relations resource in working with fashion magazines, stylists and editorial audiences.
Oakley Vice President of Marketing Scott Bowers said, "Renowned fashion world stylist Michael Angel has been brought on board as a consultant to style our upcoming seasonal apparel and footwear lines, and to cultivate and refine our relations with all crucial fashion media and stylists. Michael has produced fashion shows for Oakley internationally and at the company's global headquarters in Southern California." Bowers continued, "The opening of our showroom coincides with the introduction of our spring 2005 footwear and apparel lines that are beginning to debut at tradeshows around the world."
In August, Oakley will present its spring 2005 footwear and apparel lines at the World Shoe Association (WSA) and MAGIC tradeshows in Las Vegas.
About Oakley, Inc.
Oakley: a world brand, driven to ignite the imagination through the fusion of art and science. Building on its legacy of innovative, market-leading, premium sunglasses, the company also offers an expanding line of premium performance footwear, apparel, accessories, watches and prescription eyewear to consumers in more than 100 countries. Trailing-12-month revenues through June 30, 2004 totaled $545.7 million and generated net income of $36.9 million. Oakley, Inc. press releases, SEC filings and the company's Annual Report are available at no charge through the company's Web site at www.oakley.com.
Safe Harbor Disclaimer
This press release contains certain statements of a forward-looking nature. Such statements are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including but not limited to growth and strategies, future operating and financial results, financial expectations and current business indicators are based upon current information and expectations and are subject to change based on factors beyond the control of the company. Forward-looking statements typically are identified by the use of terms such as "may," "will," "should," "might," "believe," "expect," "anticipate," "estimate" and similar words, although some forward-looking statements are expressed differently. The accuracy of such statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including: risks related to the company's ability to manage rapid growth; risks related to the limited visibility of future sunglass orders associated with the company's "at once" production and fulfillment business model; the ability to identify qualified manufacturing partners; the ability to coordinate product development and production processes with those partners; the ability of those manufacturing partners and the company's internal production operations to increase production volumes on raw materials and finished goods in a timely fashion in response to increasing demand and enable the company to achieve timely delivery of finished goods to its retail customers; the ability to provide adequate fixturing to existing and future retail customers to meet anticipated needs and schedules; the dependence on eyewear sales to Sunglass Hut, which is owned by a major competitor and, accordingly, could materially alter or terminate its relationship with the company; the company's ability to expand distribution channels and its own retail operations in a timely manner; unanticipated changes in general market conditions or other factors, which may result in cancellations of advance orders or a reduction in the rate of reorders placed by retailers; continued weakness of economic conditions could continue to reduce or further reduce demand for products sold by the company and could adversely affect profitability, especially of the company's retail operations; further terrorist acts, or the threat thereof, could continue to adversely affect consumer confidence and spending, could interrupt production and distribution of product and raw materials and could, as a result, adversely affect the company's operations and financial performance; the ability of the company to integrate acquisitions without adversely affecting operations; the ability to continue to develop and produce innovative new products and introduce them in a timely manner; the acceptance in the marketplace of the company's new products and changes in consumer preferences; reductions in sales of products, either as the result of economic or other conditions or reduced consumer acceptance of a product, could result in a buildup of inventory; the ability to source raw materials and finished products at favorable prices to the company; the potential impact of periodic power crises on the company's operations including temporary blackouts at the company's facilities; foreign currency exchange rate fluctuations; earthquakes or other natural disasters concentrated in Southern California where substantially all of the companies operations are based; the company's ability to identify and execute successfully cost control initiatives; and other risks outlined in the company's SEC filings, including but not limited to the Annual Report on Form 10-K for the year ended December 31, 2003 and other filings made periodically by the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The company undertakes no obligation to update this forward-looking information. Nonetheless, the Company reserves the right to make such updates from time to time by press release, periodic report or other method of public disclosure without the need for specific reference to this press release. No such update shall be deemed to indicate that other statements not addressed by such update remain correct or create an obligation to provide any other updates.
