WestPoint Stevens Adds Territory With Agreement for Sales and Distribution of Brands in Middle East
25 Agosto 2004 - 11:41PM
PR Newswire (US)
WestPoint Stevens Adds Territory With Agreement for Sales and
Distribution of Brands in Middle East WEST POINT, Ga., Aug. 25
/PRNewswire-FirstCall/ -- WestPoint Stevens Inc. (OTC:WSPT)
(BULLETIN BOARD: WSPT) ( http://www.westpointstevens.com/ ) today
announced a significant expansion of its famous brand names into
Middle East retail locations via a sales and distribution agreement
with American Business Development, based in Germany. The new
agreement, effective Oct. 1, strengthens global distribution of the
Company's brands and offers brand extension to its current bed and
bath home fashion assortments at retail in Oman, the United Arab
Emirates, Qatar, Bahrain, Kuwait, Iraq, Jordan, Lebanon, Yemen,
Saudi Arabia, Cyprus, Turkey, Greece, Egypt, Libya, Tunis, Algeria
Morocco and Sudan. "This is a tremendous opportunity for our great
brands," emphasized Bed and Bath Division President Robert B. (Bob)
Dale. "It will put our flagship Martex(R) brand, as well as Grand
Patrician(R), Utica(R), Lady Pepperell(R), Vellux(R) and several
others, into key retail outlets across the Middle East. These are
smart, savvy shoppers who appreciate quality and style; and our
brands already resonate with them. Being able to easily buy our
products in their stores will answer the many requests we've had
from consumers in that part of the world." Products offered will
include sheets, bedding ensembles, bedding accessories, blankets
and towels and bath accessories. Another facet in this focus on
extending the brands is the development of a new licensing
agreement with ABD for the manufacture of bedding and bath products
under the Company's brands by carefully selected Middle East
manufacturers -- putting the supply near the demand. "This has been
a carefully developed strategy and one that requires the
international expertise of a partner such as American Business
Development. ABD has all the skills and appreciation of cultural
and geographic characteristics that are essential to global
marketing," Mr. Dale pointed out. "ABD is also acutely conscious of
WestPoint Stevens' commitment to protecting the integrity of our
brands and controlling the quality of our products." American
Business Development owner Michael Yamout agrees with Mr. Dale's
assessment of the sales opportunities for WestPoint Stevens
products in the Middle East. "WestPoint is a company known globally
for product innovation and its premier position in the industry.
ABD is delighted to offer WestPoint's famous brands in this part of
the world. It should offer a real sales advantage to both WestPoint
and ABD with long-term penetration of our brands in the
marketplace." WestPoint Stevens Inc. is the nation's premier home
fashions consumer products marketing company, with a wide range of
bed linens, towels, blankets, comforters and accessories marketed
under the well-known brand names GRAND PATRICIAN, PATRICIAN,
MARTEX, ATELIER MARTEX, BABY MARTEX, UTICA, STEVENS, LADY
PEPPERELL, SEDUCTION, VELLUX and CHATHAM -- all registered
trademarks owned by WestPoint Stevens Inc. and its subsidiaries --
and under licensed brands including RALPH LAUREN HOME, DISNEY HOME
and GLYNDA TURLEY. WestPoint Stevens can be found on the World Wide
Web at http://www.westpointstevens.com/ . Safe Harbor Statement:
Except for historical information contained herein, certain matters
set forth in this press release are "forward-looking statements"
within the meaning of the U.S. Private Securities Litigation Reform
Act of 1995. Such forward-looking statements involve certain risks
and uncertainties that could cause actual results to differ
materially from those in the forward-looking statements. Such risks
and uncertainties may be attributable to important factors that
include but are not limited to the following: Product margins may
vary from those projected; Raw material prices may vary from those
assumed; Additional reserves may be required for bad debts,
returns, allowances, governmental compliance costs, or litigation;
There may be changes in the performance of financial markets or
fluctuations in foreign currency exchange rates; Unanticipated
natural disasters could have a material impact upon results of
operations; There may be changes in the general economic conditions
that affect customer practices or consumer spending; Competition
for retail and wholesale customers, pricing and transportation of
products may vary from time to time due to seasonal variations or
otherwise; Customer preferences for our products can be affected by
competition, or general market demand for domestic or imported
goods or the quantity, quality, price or delivery time of such
goods; There could be an unanticipated loss of a material customer
or a material license; The availability and price of raw materials
could be affected by weather, disease, energy costs or other
factors; The future results of operations may be adversely affected
by factors relating to the Chapter 11 proceedings. The information
contained in this release is as of August 25, 2004. WestPoint
Stevens assumes no obligation to update publicly any
forward-looking statements, contained in this document as a result
of new information or future events or developments. Contact:
Lorraine D. Miller, CFA Senior Vice President Finance and External
Communications 404.378.0491 DATASOURCE: WestPoint Stevens CONTACT:
Lorraine D. Miller, CFA, Senior Vice President Finance and External
Communications of WestPoint Stevens Inc., +1-404-378-0491 Web site:
http://www.westpointstevens.com/
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