NEW YORK, New York, July 25, 2005 — Everlast Worldwide Inc. (Nasdaq: EVST), manufacturer, marketer and licensor of sporting goods and apparel under the Everlast brand name, today announced the appointment of Seth Horowitz as president and chief operating officer effective immediately.. Mr. Horowitz, who served as executive vice president of the company since 2001, has also been nominated by the Corporate Governance and Nomination Committee of the Board of Directors to the Everlast Board.
Since joining Everlast’s predecessor company, Active Apparel Group, in 1998, Seth Horowitz has held positions of increasing responsibility. As executive vice president of Everlast Worldwide, Seth was responsible for supervising the men’s and women’s active apparel division, and the sporting goods and equipment division while giving strategic guidance to the global licensing division and corporate finance and accounting. He was key in the negotiations of the merger between Active Apparel Group and Everlast Worldwide in 2000. Seth managed and oversaw the complete redesign of all professional boxing equipment including gloves, headgear and cups and led the effort for the complete rejuvenation of the retail boxing business, which included the introduction of new packaging, products, marketing programs, sourcing and shipping methods, resulting in increased sales and profitability. In addition, Seth has overseen the growth of the Everlast men’s apparel business and was instrumental in the decision to license the women’s business and participated in negotiations with Jacques Moret, Inc. which led to the signing of the largest licensing agreement in Everlast’s history.
George Q Horowitz, chairman and CEO of Everlast Worldwide Inc., said, “Seth has made many valuable contributions to Everlast particularly through his negotiating skills and his strategic efforts in marketing and new product development. In addition, he has gained considerable respect from our retail customers which has facilitated the expansion of the Everlast brand. On behalf of myself and the Board of Directors, we look forward to the valuable insights and contributions to the board that Mr. Horowitz will make.”
About Everlast Worldwide Inc.
Everlast Worldwide Inc. manufactures, markets and licenses sporting goods and apparel products under the Everlast brand name. Since 1910, Everlast has been the preeminent brand in the world of boxing and is among the most dominant brands in the overall sporting goods and apparel industries. Over the past 90 years, Everlast products have become the “Choice of Champions™”, having been used for training and professional fights by many of the biggest names in the sport. Everlast is the market leader in nearly all of its product categories, responsible for leading eight of the top ten boxing equipment products in sales. Through its active apparel division, Everlast men’s active wear is sold through a variety of department stores, specialty stores, catalog operations and better mass merchandisers in the U.S. In addition to producing and marketing the equipment and accessories, Everlast Worldwide Inc. licenses its brand globally to providers of men’s and women’s sportswear and active wear, children’s wear, fragrances, nutritional products, footwear, watches, cardiovascular exercise equipment and gym/duffel bags. At the retail level, Everlast’s products generate over $700 million in revenues.