6th Dec 2006 07:01
Hot Tuna (International) plc06 December 2006 Press Release 6 December 2006 Hot Tuna (International) PLC ("Hot Tuna" or "the Company") Hot Tuna secures new European distribution agreements Hot Tuna (International) PLC (AIM:HTT), a lifestyle apparel brand with authenticsurf heritage, is pleased to announce that it has secured four new distributionagreements in Europe for the Company's Spring / Summer 2007 ranges. The newdistribution agreements cover Spain, Ireland, Portugal and the Canary Islands.It is envisaged that each distributor will receive their initial orders in March2007, in advance of Easter and the important European Summer season. These distribution agreements follow the Company's strategy of establishingdistribution channels throughout Europe using distributors, some of which havetheir own retail operations, that currently have an existing portfolio of brandsand retailers to distribute Hot Tuna products through their respective marketsand existing account base of 'A' grade independent surf lifestyle retailers.The Company also intends to distribute the brand through several major Europeanretailers. A distribution agreement has been reached in Spain with Jauvid Gamont S.A whowill, in addition, be distributing Hot Tuna products in Andorra. Jauvid Gamontcurrently distribute Arnette, 3 point, Mambo, Scorpion Bay and several motorbike brands with an account base of 300 and a sales team of four agentsdedicated to the Hot Tuna account. Jauvid Gamont also has two proprietary SurfLifestyle Stores and retails other brands including Quiksilver, O'Neil andBillabong. The Portuguese distribution agreement has been signed with Big Wave, which hasan account base of 120 and a sales team comprising of 4 agents. Big Wave alsoowns one surf lifestyle shop that retails Quiksilver, O'Neil and Volcomproducts. Additionally, a distribution agreement covering all of the CanaryIslands has been signed with Grelo Sports. Hot Tuna product will be distributed in Ireland through Magillgroup, who willalso be distributing in northern Ireland. Magillgroup currently stocks Mambo,Custo, Naf Naf and Hush puppies with an account base of 375 and a sales team of4 agents. Commenting on the distribution agreement, Ranjit Murugason, Executive Chairmanof Hot Tuna, said: "These distribution agreements form the basis of Hot Tuna'slaunch in some key European markets. The size of each distributors respectiveaccount base will ensure that our product will gain good visibility in theseimportant markets. "We look forward to proactively working with our new distributors to roll-outHot Tuna product in Europe and will be working closely with them to tailorproduct development and marketing to each local market." - Ends - For further information:Hot Tuna (International) PLCRanjit Murugason, Executive Chairman Tel: +44 (0) 20 7372 [email protected] Seymour Pierce LimitedSarah Wharry / Parimal Kumar Tel: +44 (0) 20 7107 [email protected] www.seymourpierce.com Media enquiries:AbchurchHenry Harrison-Topham / Chris Lane Tel: +44 (0) 20 7398 [email protected] www.abchurch-group.com Notes to Editors Hot Tuna International PLC (AIM:HTT) owns the rights to the Hot Tuna brand, aprogenitor of global youth fashion, born in Australia with a heritage ofauthentic surf culture. Hot Tuna is one of the world's most iconic names in surf lifestyle and can traceits roots back to 1969 when it was founded by a surfer and his fashion designerwife. Though the label had not been actively marketed over for the lastdecade, it retained an organic cult status among core action sports enthusiasts. In June 2005, Hot Tuna International PLC purchased the 'Hot Tuna' brand fromFrontier International (Holdings) Pty Ltd, listed on AIM in September 2005, andhas since started to aggressively market the brand and reinvigorate thebusiness. The Company now owns all intellectual property rights to its name andrelated iconography, and has put in place key management drawn from theexecutive ranks of Quiksilver, O'Neill and Ocean Pacific, among others. Headquartered in the UK, Hot Tuna operates design, marketing and distributionhubs in the USA, Australia and the UK. In its core markets, Hot Tuna sellsproducts, which are directly manufactured in facilities in North America, Europeand in China. Hot Tuna offices are maintained in Sydney, Los Angeles and London. For more information, visit www.hottunaplc.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Concha