Signature Eyewear Expands Into Footwear and Accessories With the Formation of the Signature Fashion Group and Acquisition of Rou
November 22 2010 - 9:00AM
Marketwired
Signature Eyewear, Inc. (OTCBB: SEYE)
In a strategic expansion, Signature Eyewear, Inc. today
announced that it has established a new division, Signature Fashion
Group, to focus on women's footwear and fashion accessories. This
division will bring Signature's expertise in brand management to
the development and marketing of these new product lines.
The first addition to the Signature Fashion Group is the "Rough
Justice" brand of trendsetting women's footwear. Signature has
acquired this brand from Bodo Loerke and Lee Ashworth, industry
experts who conceived the brand two years ago and have joined
Signature Fashion Group as Senior Vice Presidents to drive sales
and product design. Well recognized in the industry, they have a
combined 35 years in brand design, development and sales.
"Rough Justice exists to meet the fashion sensibilities of that
woman who is always one step ahead of the trend and appreciates a
bold fashion statement," said Mr. Ashworth. "Additionally our goal
is to push the envelope of footwear fashion at an affordable price
for young women 18 to 35, looking to be Fashion Forward."
"This is a bold step for our company," said Michael Prince, CEO
of Signature Eyewear. "Gaining access into the footwear and
accessory categories will give us a broader platform to expand our
reach to department stores and major accessory retailers. The
eyewear division will work closely with the footwear and
accessories group to leverage opportunities with its sunglass
collections."
Rough Justice Footwear can be found in finer department stores
and independent specialty retailers across the country. The Spring
2011 collection will preview this December at the FFANY show in New
York. "Signature Fashion Group will provide the engine and
infrastructure necessary for Rough Justice to realize its potential
in the fashion footwear and accessories segment of the market. We
are all excited about the synergy between the design, fashion and
sales teams formed by melding Rough Justice and Signature Eyewear,"
said Mr. Loerke.
As a brand driven company, Signature will continue its efforts
to design, market and sell its licensed and proprietary branded
eyewear collections. "Signature has always been about fashion and
brand development," said Jim Sepanek, Executive Vice President of
the new division. "The creation of the Signature Fashion Group
enables us to diversify our portfolio, while leveraging our core
strengths. We anticipate revenues from the venture to ramp up in
the second quarter of 2011."
Signature will release the Rough Justice Eyewear Collection in
the Spring of 2011 followed by Rough Justice handbags in the Fall
of 2011.
About Signature Eyewear Signature Eyewear
is a California public company and is a leading designer and
marketer of prescription eyeglass frames and sunglasses.
Internationally-recognized brand names such as Carmen Marc Valvo,
Cutter and Buck, Hart Schaffner Marx, Laura Ashley, Michael Stars,
Nicole Miller and the soon to be launched Bobby Jones and Hickey
Freeman have chosen to team up with Signature Eyewear. Proprietary
brands include Dakota Smith Eyewear, The Signature Eyewear
Collection, and now Rough Justice. The company's products are sold
in the United States and internationally to opticians,
optometrists, ophthalmologists, optical retail chains and
department stores. For information about Signature Eyewear call
1-800-765-EYES or visit the company's web site at www.seye.com.
The above news release contains forward-looking statements.
These statements are based on assumptions that management believes
are reasonable based on currently available information, and
include statements regarding the intent, belief or current
expectations of the company and its management. Readers are
cautioned that any such forward-looking statements are not
guarantees of future performance, and are subject to a wide range
of business risks, external factors and uncertainties, including
increasing market interest rates. Actual results may differ
materially from those indicated by such forward-looking statements.
For additional information, please consult the company's most
recent public filings and Form 10-K for the year ended October 31,
2009. The company assumes no obligation to update the information
contained in this press release, whether as a result of new
information, future events or otherwise.
Devon Blaine The Blaine Group 310.360.1499 Email Contact
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