Signature Eyewear and Cutter & Buck Ink Long Term Extension to License
February 15, 2011 (Los Angeles) - Signature Eyewear, Inc. (OTC BB: SEYE.OB) is pleased to announce that it has renewed its Cutter & Buck Eyewear license through December 31, 2014. "We have enjoyed an excellent relationship with Cutter & Buck since we began our partnership in 2006," says Michael Prince, CEO of Signature Eyewear. "We look forward to Cutter & Buck’s commitment to expand the brands reach both domestically and internationally."
Cutter & Buck is a premier sports lifestyle company known for its luxurious craftsmanship and technical innovation. Using the best fabrics and trims, classic styling, and a wide range of colors to create clothing that looks and performs impeccably, Cutter & Buck enables countless professional and weekend golfers to complement their games.
"Cutter & Buck is proud to extend its partnership with Signature Eyewear," said Joel Freet, Corporate National Sales Manager at Cutter & Buck. "Extending our licensing agreement is very important to our long-term plan to expand the customer base and further develop Cutter & Buck as a lifestyle brand." continued Freet.
"The Signature eyewear collection will focus on delivering value to consumers who desire fashionable product with technological features and benefits," said Jim Sepanek, Vice President of Business Development at Signature Eyewear. "Shape memory metal and the magnet grip temple system will ensure that our frame offering meets the demands of the Cutter & Buck lifestyle. Additionally, our 2011 plan includes an expanded polarized sunwear collection available in specialty retail and department stores," continued Sepanek.
Prince continued, "Signature's challenge for fiscal 2011 is to replace the revenues lost by the expiration of our bebe and Hummer eyewear licenses on June 30, 2010. We took a significant step by establishing the Signature Fashion Group in November 2010. SFG will design, manufacture and market women’s footwear and fashion accessories. We will introduce our first women’s footwear line, under our own Rough Justice brand, in the spring of this year. Additionally, we have already received purchase orders for delivery in the second quarter from three footwear retailers for private label sales.
"Our plan for fiscal 2011 also includes increasing our efforts to sell eyewear and sunwear to mid-size retail optical chains, department stores and Internet optical retailers, and developing international sales by expanding into smaller foreign markets. We are launching Bobby Jones Sunwear, Hickey Freeman Eyewear and Rough Justice Eyewear in the late spring of 2011. We are also taking actions to reduce operating expenses to offset as much of the loss of revenue as possible."
About Signature Eyewear
Signature Eyewear is a California public company and is a leading designer and marketer of prescription eyeglass frames and sunglasses under internationally-recognized brand names such as Carmen Marc Valvo, Cutter and Buck, Hart Schaffner Marx, Laura Ashley, Michael Stars, Nicole Miller and soon to be launched Hickey Freeman, Bobby Jones and Rough Justice. Signature Eyewear's proprietary brands include Dakota Smith, Rough Justice and The Signature Collection. Signature recently introduced a Rough Justice collection of fashion footwear which will launch in late Spring of 2011. The Company's products are sold in the United States and internationally to opticians, optometrists and ophthalmologists, optical retail chains, and department stores and fashion retailers. For information about Signature Eyewear call 1-800-765-EYES or visit the company's web site at www.seye.com and www.roughjustice.com.