Russell Announces Spalding Agreement Including Products, Retail Stores in China
May 12 2005 - 7:00AM
PR Newswire (US)
Russell Announces Spalding Agreement Including Products, Retail
Stores in China ATLANTA, May 12 /PRNewswire-FirstCall/ -- Russell
Corporation (NYSE:RML) announced today that its Spalding division
has signed a strategic alliance agreement with Kangwei to design,
manufacture and sell Spalding products in China. The agreement
covers athletic apparel, footwear and accessories. (Logo:
http://www.newscom.com/cgi-bin/prnh/20030630/RMLCORPLOGO ) Kangwei
has established a separate subsidiary, Guangzhou Ganwei Sports
Goods Co., Ltd., to focus on the Spalding brand. Ganwei will launch
Spalding apparel and footwear in June 2005. Additional plans call
for Ganwei to open as many as 600 self-owned or franchised retail
stores selling Spalding apparel, footwear and equipment by the end
of 2006. "Kangwei's experience with launching athletic brands and
managing the business will be extremely beneficial as we continue
to take advantage of the growing global popularity of the Spalding
brand," said Scott Creelman, president and CEO of Spalding.
"Additionally, they have been successful with their Kangwei branded
sports products and certainly have a tremendous understanding of
the market in China." Founded in 1986, Kangwei is a privately held
company located in Guangzhou and was one of the first companies
specializing in sporting goods products in China. In 19 years, it
has become one of the largest Chinese sports brands with more than
1,000 self-owned or franchised retailing outlets under the Kangwei
brand. About Russell Corporation Russell Corporation is a leading
branded athletic and sporting goods company marketing athletic
apparel, uniforms, footwear and equipment for a wide variety of
sports, outdoor and fitness activities. The Company's major brands
include Russell Athletic(R), JERZEES(R), Spalding(R), Brooks(R),
Huffy Sports(R), Bike(R), Moving Comfort(R), AAI(R) and Mossy
Oak(R). The Company's common stock is listed on the New York Stock
Exchange under the symbol RML and its web site address is
http://www.russellcorp.com/ . About Spalding Springfield, MA-based
Spalding is a leading producer and marketer of basketballs,
footballs, volleyballs and soccer balls under the Spalding brand
name and softballs under the Dudley brand. Spalding is the official
basketball supplier of the national Basketball Association (NBA)
and the Women's National Basketball Association (WNBA), the
official volleyball of the National Collegiate Athletic Association
(NCAA) and American Volleyball Association (AVA), the official
soccer ball of the Major Indoor Soccer League (MISL) and the
official football of the American Football League (AFL) and Pop
Warner. Spalding was acquired by Russell Corporation in May 2003.
Spalding and Russell's other business units, American Athletic
(AAI) and Huffy Sports brands, collectively combined, are now part
of the largest basketball equipment provider in the country. AAI is
the leading seller of gymnastics equipment in the country as well
as institutional basketball backboards, and Huffy Sports, is a
leader in basketball backboard systems.
http://www.newscom.com/cgi-bin/prnh/20030630/RMLCORPLOGO
http://photoarchive.ap.org/ DATASOURCE: Russell Corporation
CONTACT: Financial, K. Roger Holliday, +1-678-742-8181, or Media,
Nancy Young, +1-678-742-8118, both of Russell Corporation Web site:
http://www.russellcorp.com/
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