CARLSBAD, Calif.--(BUSINESS WIRE)--Sep. 11, 2009--
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
"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
"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
O'Neill, the original California surf, snow and lifestyle brand, was
founded in 1952 when a young man named Jack O'Neill took his unstoppable
passion for surfing and used it to beat Mother Nature at her own game.
Pioneering the world's first neoprene surf wetsuit, Jack had
successfully found a way to extend his surf sessions in the
bone-chilling breaks of Northern California. He opened up the garage
doors to his first surf shop soon after.
While many things have changed since those humble beginnings, Jack's
initial vision of producing functional and innovative board riding
products continues to lie at the core of everything the company does.
O'Neill's set of core values - innovation in style and technology - has
seen the brand devote itself wholeheartedly to the evolution of action
sports. From the first neoprene surf wetsuit and board leash, to the
world's first stitchless board shorts and range of groundbreaking
wearable electronics, O'Neill's spirit of innovation will always drive
the company forwards.
Today, O'Neill can be found the world over. In touch with its rich
heritage and the universal appeal of board riding culture, O'Neill will
always be committed to growing its reputation as one of the world's
leading youth lifestyle brands based on a unique half-century of history
as the First Name in the Water.
About Orange 21 Inc.
Orange 21 designs, develops, markets and produces premium products for
the Action Sport, Motorsports, Snowsports and youth lifestyle markets.
Orange 21’s primary brand, Spy Optic (TM), manufactures sunglasses and
goggles targeted toward the action sports, motorsports, snowsports and
youth lifestyle markets.
Safe Harbor Statement
This press release contains forward-looking statements. These statements
relate to future events or future financial performance and are subject
to risks and uncertainties. In some cases, you can identify
forward-looking statements by terminology such as “may,” “will,”
“should,” “expect,” “plan,” “anticipate,” “believe,” “feel,” “estimate,”
“predict,” “potential” or “continue,” the negative of such terms or
other comparable terminology. Specifically, comments in this press
release regarding the expected release dates for the O’Neill sunglass
and snow goggle lines, the expected success of the O’Neill eyewear line
and the strength of the partnership between Orange 21 and O’Neill, are
forward-looking statements and are subject to inherent risks. These
statements are only predictions. Actual events or results may differ
materially. Factors that could cause actual results to differ from those
contained in the forward-looking statements include, but are not limited
to: the general conditions of the domestic and global economy, changes
in consumer discretionary spending; changes in the value of the U.S.
dollar, Canadian dollar and Euro; changes in commodity prices; our
ability to source raw materials and finished products at favorable
prices; risks related to the limited visibility of future orders; our
ability to continue to develop, produce and introduce innovative new
products in a timely manner; our ability to identify and execute
successfully cost-control initiatives without adversely impacting sales;
the performance of new products and continued acceptance of current
products; our execution of strategic initiatives and alliances;
uncertainties associated with intellectual property protection for our
products; and other risks identified from time to time in our filings
made with the U.S. Securities and Exchange Commission. Although, we
believe that the expectations reflected in the forward-looking
statements are reasonable, we cannot guarantee future results. Moreover,
we assume no responsibility for the accuracy or completeness of such
forward-looking statements and undertake no obligation to update any of
these forward-looking statements.
Source: Orange 21 Inc.
Orange 21 Inc.
Marketing and PR