AVP Signs Title Sponsorship Deal with CROCS, Inc., Creating the ``AVP CROCS TOUR'' and the ``CROCS CUP''CROCS AVP Black Beach S
April 17 2006 - 7:00AM
Business Wire
The Agreement integrates CROCS throughout the AVP Pro Beach
Volleyball Tour and designates CROCS as the Exclusive Footwear
Company of the AVP Tour AVP Pro Beach Volleyball Tour, a wholly
owned subsidiary of AVP, Inc. (OTCBB:AVPI) and CROCS, Inc.
(Nasdaq:CROX) announced today a three-year deal establishing CROCS
as the title sponsor and official footwear of the AVP Pro Beach
Volleyball Tour. Beginning with this year's 2006 season, the tour
will be known as the "AVP CROCS Tour." The AVP CROCS Tour will be
the nation's most prominent professional beach volleyball tour,
featuring more than 150 of the top beach volleyball players in the
world. CROCS, Inc. is a leading manufacturer and marketer of a new
breed of comfort footwear. All CROCS shoe models feature its
exclusive Croslite(TM) material, which warms and softens with body
heat, while molding to the foot. The sculpted footbed has been
ergonomically enhanced for maximum cushion and comfort. The
company's product suite, ranging from flip-flops to ballet flats to
the traditional Beach model, has made CROCS a phenomenon all its
own, loved by boaters, athletes, outdoor enthusiasts, celebrities
and families alike. In addition to becoming the title sponsor,
CROCS will sponsor the "CROCS Cup," which will be awarded to the
AVP men's and women's teams that accumulate the most CROCS Cup
Points throughout the AVP season. CROCS Cup Points will be awarded
in a weighted format based on performance in AVP events. At the
conclusion of the season, the men's and women's leaders will
receive the CROCS Cup, which is a trophy exclusively designed and
crafted for the AVP CROCS Tour by Tiffany & Co. Other
highlights of the deal include: -- Three-year exclusivity as the
title sponsor of the AVP Tour as well as "Official Footwear of the
AVP Pro Beach Volleyball Tour" -- Major television presence,
including commercial units, vignettes and billboards -- Major
on-site presence with signage, product sales and an interactive
volleyball court that will feature skill challenges, clinics,
tournaments and media events -- Use of AVP imagery in CROCS'
national print advertising campaigns -- A multi-faceted licensing
agreement covering the development and sale of AVP branded footwear
that will be available through CROCS' wholesale and retail networks
"We are thrilled to have CROCS as the AVP Tour Title Sponsor,"
stated Leonard Armato, CEO and Commissioner of AVP. "We could not
ask for a more perfect brand and cultural fit. CROCS combines
technology with comfort to produce one-of-a-kind lifestyle
products. The AVP Tour, which features some of the greatest
athletes in the world surrounded by an infectious beach lifestyle,
will blend perfectly with CROCS to create a marketing platform that
we believe has unlimited potential for both companies." "We are
excited to announce our new affiliation with this world-class, high
profile tour and we are pleased to become the title sponsor for the
next three years," said Ron Snyder, CEO of CROCS. "The tremendous
growth and demographic footprint of the AVP make this partnership
an excellent fit for the CROCS brand. The AVP Tour experienced 48%
growth in its fan base in 2005 and the demographics of its fans are
ideal to help us continue to grow our brand. The AVP Tour's rich
history and exciting future make this title sponsorship attractive
to a strong and growing company like CROCS." As both the CROCS and
the AVP brands rapidly evolve, the AVP CROCS Tour will help both
companies establish themselves as growing lifestyle brands. AVP is
happy to announce that tickets for all 2006 AVP CROCS Tour events
are now available for purchase through AVP's website
(www.avp.com/tickets). About AVP Pro Beach Volleyball Tour, Inc.
AVP Pro Beach Volleyball Tour, Inc. is a leading lifestyle sports
entertainment company focused on the production, marketing and
distribution of professional beach volleyball events worldwide. AVP
operates the industry's most prominent national touring series, the
AVP CROCS Tour, which was originally organized in 1983. Featuring
more than 150 of the top American men and women competitors in the
sport, AVP will hold 16 AVP CROCS Tour events throughout the United
States in 2006. In 2004, AVP athletes successfully represented the
United States during the Olympics in Athens, Greece, winning gold
and bronze medals, the first medals won by U.S. women in
professional beach volleyball. For more information, please visit
www.avp.com. About CROCS: CROCS, Inc. is a rapidly growing
designer, manufacturer and marketer of footwear for men, women and
children under the CROCS brand. All of our footwear products
incorporate our proprietary closed-cell resin material, which we
believe represents a substantial innovation in footwear comfort and
functionality. Our proprietary closed-cell resin, which we refer to
as croslite(TM) enables us to produce a soft and lightweight,
non-marking, slip- and odor-resistant shoe. These unique properties
make CROCS footwear ideal for casual wear, as well as for
recreational uses such as boating, hiking, fishing and gardening,
and have enabled us to successfully market our products to a broad
range of consumers. CROCS come in a wide array of colors and styles
are sold in more than 6,500 North American retail locations and at
our e-tailing website, www.CROCS.com. Forward Looking Statements
The matters regarding the future discussed in this news release
include forward-looking statements as defined in the Private
Securities Litigation Reform Act of 1995. These statements involve
known and unknown risks, uncertainties and other factors which may
cause our actual results, performance or achievements to be
materially different from any future results, performances or
achievements expressed or implied by the forward-looking
statements. These risks and uncertainties include, but are not
limited to, the following: our limited operating history; our
significant recent expansion; changing fashion trends; our reliance
on market acceptance of the small number of products we sell; our
ability to develop and sell new products; our limited manufacturing
capacity and distribution channels; our reliance on third party
manufacturing and logistics providers for the production and
distribution of our products; our reliance on a single-source
supply for certain raw materials; our ability to obtain and protect
intellectual property rights; the effect of competition in our
industry; the potential effects of seasonality on our sales; our
ability to attract, assimilate and retain management talent; and
other factors described in our annual report on Form 10-K under the
heading "Risk Factors." Readers are encouraged to review that
section and all other disclosures appearing in our filings with the
Securities and Exchange Commission.
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