28.01.2005 14:32:00
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Spy Optic Goes Direct in France and Italy
Business Editors/Fashion Editors/International Writers
CARLSBAD, Calif.--(BUSINESS WIRE)--Jan. 28, 2005--Orange 21 Inc. (NASDAQ:ORNG) today announced that its wholly-owned subsidiary Spy Optic, Inc. ("Spy") is converting its business model from distributor to dealer direct in France and Italy. This transition is a continuation of the company's distribution strategy for the European marketplace. France and Italy represent key target markets for Spy's international expansion and will provide a cornerstone for expansion of the company's goggle, sunglass and accessory products throughout Europe.
Both territories will be supported by regional Spy sales representatives and a sales and marketing staff located at Spy's European headquarters in Italy. The direct territories are managed by Massimo Bonfanti, who joined Spy last May after spending three years at Type 20, which markets Briko and Arnette brands.
"We're excited about moving to a dealer direct model in France and Italy. We believe that the change will allow us to provide better service and greatly expand our dealer network, particularly in the rapidly expanding European marketplace. In addition, we expect that the dealer direct model will allow us to establish stronger connections with our retail partners throughout Europe," said Ron Perkins, General Manager for Spy Optic, SRL.
About Orange 21
Orange 21 designs, develops and markets premium products for the action sports and youth lifestyle markets. Orange 21's principal products, sunglasses and goggles, are marketed under its brand, Spy Optic Inc. ("Spy"), a wholly-owned subsidiary. Spy's innovative proprietary products utilize high-quality materials, handcrafted manufacturing processes and engineered optical lens technology to convey performance, style, quality, and value.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain statements contained in this press release are not historical facts and may be considered forward-looking statements, including, without limitation, statements relating to the company's conversion to a dealer direct business model in France and Italy, which are based upon a number of assumptions concerning future conditions that ultimately may prove to be inaccurate. Such forward-looking statements are subject to risks and uncertainties and may be affected by various factors that may cause actual results to differ materially from those in the forward-looking statements. Further information on potential risk factors that could affect Orange 21's business and its financial results are detailed in its filings with the Securities and Exchange Commission, including its Registration Statement on Form S-1 declared effective on December 13, 2004. Undue reliance should not be placed on forward-looking statements, which speak only as of the date that they are made.
--30--MR/la*
CONTACT: Spy Optic, Inc. Jessica Trent Nichols, 760.804.8420 x1158 jessica@spyoptic.com
KEYWORD: CALIFORNIA ITALY FRANCE INTERNATIONAL EUROPE INDUSTRY KEYWORD: MANUFACTURING MEDICAL APPAREL/TEXTILES RETAIL ADVERTISING/MARKETING PRODUCT SOURCE: Orange 21 Inc.
Copyright Business Wire 2005
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