TANDY BRANDS SIGNS LICENSE AGREEMENT WITH EDDIE BAUER LLC
Apr. 4, 2011
Source: Tandy Brands Accessories, Inc.
Dallas, Texas -- Tandy Brands Accessories, Inc. (Nasdaq: TBAC) announced today that it has entered into a multi-year license agreement with Eddie Bauer, The Original Outdoor Outfitter, to license and market products in its gift category. The Company expects to see incremental impact in its gifts business in calendar year 2011, especially during the 2011 holiday season.
"The Eddie Bauer brand is a leading lifestyle brand, which represents outstanding quality, value and innovation, characteristics which are also hallmarks of our gifts category," said Rod McGeachy, Chairman, President and Chief Executive Officer. "This new license agreement is a significant win for Tandy Brands, which will accelerate our strategic turnaround by expanding our portfolio of top-tier brands and diversifying our retail partnerships."
Under the terms of the agreement, Tandy Brands will have rights in a number of product categories, including tools, handheld lighting, hydration/drinkware and other personal accessories. The Company expects to drive incremental distribution in a number of wholesale channels, including national retail and department stores, clubs and specialty outdoor stores. Additionally, the Company will become an important supplier for Eddie Bauer's 353 stores retail store locations throughout the United States and Canada and direct-to-consumer (catalog and e-Commerce) businesses.
About Eddie Bauer
Established in 1920 in Seattle, Eddie Bauer is a specialty retailer that sells sportswear, outerwear, gear and accessories for the active outdoor lifestyle. The Eddie Bauer brand is a nationally recognized brand that stands for high quality, innovation, style and customer service. Eddie Bauer products are available at approximately 353 stores throughout the United States and Canada, through catalog sales and online at eddiebauer.com.
About Tandy Brands
Tandy Brands is a leading designer and marketer of branded men's, women's and children's accessories and gifts (including belts, small leather goods, eyewear, neckwear, and sporting goods). Merchandise is sold under various national brand names as well as private labels to all major levels of retail distribution.