Sharper Image Corporation (Pink Sheets:SHRPQ) today announced that it
has signed a multiyear licensing agreement with ARG Manufacturing, Inc. (“ARG”),
a market leader with more than 30 years experience making high quality
kitchen utensils, kitchen tools, bakeware and barbecue tools. This
agreement is the twelfth licensing agreement signed by Sharper Image’s
Brand Licensing Division. The Division was established in February 2007
to enable leading manufacturers to license The Sharper Image brand
across a broad range of product categories.
Under this agreement, ARG will offer high quality, Sharper Image brand
food preparation tools such as spatulas, spoons, ladles, whisks,
slicers, and peelers, as well as other kitchen gadgets such as salad
spinners, pizza cutters, ice cream scoops, and mandolin slicers. The
license will also include bakeware and barbecue tools and tool sets for
sale in kitchen departments. These products will be designed
specifically to meet the quality, excitement and innovation attributes
that are associated with The Sharper Image brand. The first products
will be available in the fall of 2008.
John W. Spotts, Senior Vice-President, Brand Licensing for Sharper
Image, said, “We are very pleased to have ARG
as a new licensee. This new license marks an expanded presence in
kitchen products for The Sharper Image. Unique kitchen products with
innovative features are an important category for the brand and these
high quality tools and bakeware will enhance our customers’
kitchen experience.”
Joseph Van Houten, President of ARG, added, “We
believe The Sharper Image brand is an excellent fit with our innovative
designs and high quality manufacturing process. We view this as a
long-term opportunity to build The Sharper Image brand into an important
player in the kitchen products category.”
About Sharper Image
The Sharper Image is a specialty retailer that is nationally and
internationally renowned as a leading source of new, innovative,
high-quality products that make life better and more enjoyable. The
Company’s principal selling channels include
Sharper Image specialty stores throughout the United States; the
award-winning Sharper Image monthly catalog; and its primary Website, www.sharperimage.com.
The Company also has business-to-business sales teams for marketing its
exclusive and proprietary products for corporate incentive and reward
programs and wholesale to selected U.S. and international retailers.
About ARG Manufacturing, Inc.
ARG Manufacturing is an international “factory
direct” solution for Kitchen Tools & Gadgets,
Silicone & Non-Stick Bakeware, Cleaning Products and other non-electric
items for the home. In house design and production teams allow ARG to
streamline product development and provide a supply chain model with
improved efficiencies in Asia and North America. Our mission is
to be the Creative, Manufacturing and Supply Chain source for Retail
Channels through Private Label Manufacturing and utilizing ARG &
Licensed brands under our management. More information on ARG
Manufacturing can be found at www.argmfg.com.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements are based on the Company's current plans,
expectations, estimates, and projections about the specialty retail
industry and management's beliefs about the Company's future
performance. Words such as "anticipates," "expects," "intends," "plans,"
"believes," "seeks," "estimates" or variations of such words and similar
expressions are intended to identify such forward-looking statements.
These statements are not guarantees of future performance and are
subject to risks and uncertainties that are difficult to predict and
which may cause the Company's actual results and performance to differ
materially from those expressed or forecasted in any such
forward-looking statements. Some of these risks and uncertainties are
discussed in the Company's Annual Report on Form 10-K for the year ended
January 31, 2007 under "Risk Factors". These risks include, among other
factors, the success of its new business strategy, its ability to
continue to find or develop and to offer attractive merchandise to
customers, the market potential for products in design, the success of
its advertising efforts, changes in business and economic conditions,
risks associated with its retail store, catalog and Internet operations,
and changes in the competitive environment in which it operates. Other
risks that the Company faces include, but are not limited to, the
following: (i) the ability of the Company to continue as a going
concern; (ii) the Company's ability to obtain court approval with
respect to motions in the Chapter 11 proceeding prosecuted by it from
time to time; (iii) the ability of the Company to develop, prosecute,
confirm and consummate one or more plans of reorganization with respect
to the Chapter 11 case; (iv) risks associated with third parties seeking
and obtaining court approval to terminate or shorten the exclusivity
period for the Company to propose and confirm one or more plans of
reorganization, for the appointment of a Chapter 11 trustee or to
convert the case to a Chapter 7 case; (v) the ability of the Company to
obtain and maintain normal terms with vendors and service providers;
(vi) the Company's ability to maintain contracts and leases that are
critical to its operations; and (vii) the potential adverse impact of
the Chapter 11 case on the Company's liquidity or results of operations.
Unless required by law, the Company undertakes no obligation to update
publicly any forward-looking statements. However, readers should
carefully review the statements set forth in the reports, which the
Company files from time to time with the Securities and Exchange
Commission, particularly its Annual Report on Form 10-K, its Quarterly
Reports on Form 10-Q and its Current Reports on Form 8-K.
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