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News Releases 2007
Development of business in casual wear under the brand of Saucony, the US running shoes manufacturer
March 27, 2007
ITOCHU Corporation has concluded a contract with Saucony, Inc., a US manufacturer of running shoes, for exclusive manufacturing, distribution and sales of casual items bearing its brand in the Japanese market. In the summer of 2007, we intend to develop business in casual wear with the cooperation of Mataichi Yoko Co., Ltd. (headquartered in Chuo-ku, Osaka; Masahiko Ito, President) as the sublicensee.
Saucony traces its origins to an enterprise founded in Kutztown, on the banks of the Saucony River in the state of Pennsylvania, in 1898. Over the years, it expanded as a manufacturer of various types of shoes, including baseball shoes and bowling shoes.
In the 1960s, it began fabricating footwear for NASA astronauts. The boots worn by Edward White, when he became the first US astronaut to take the first "space walk" in 1965, were made by Saucony. Today, the company is reputed around the world for its high quality and revolutionary technology, especially as manifested in its running shoes.
In the Japanese market, Achilles Corporation concluded a contract for import and licensing in 1999, and has been selling Saucony shoes since that year.
In September 2005, Saucony became a subsidiary of The Stride Rite Corporation, a shoes-related firm handling the PRO-Keds and Keds brands, and this led to its connection with ITOCHU, which is tied up with PRO-Keds and certain other firms. The connection culminated in this partnership between the two in the field of casual wear. ITOCHU obtained exclusive rights to the manufacture, distribution and sales of men's, women's, and kids' casual wear and accessories, except shoes and running wear.
As a first step, ITOCHU has concluded a sublicensing contract with Mataichi Yoko, and plans to launch sales, mainly through general merchandise stores, for kids' casual wear in the summer of 2007 and for men's casual wear in the autumn and winter seasons of the same year.
We hope to conclude sublicensing contracts with major manufacturers to steadily widen the scope of items involved to include headwear, socks, bags, and other peripheral goods. The plans envision annual retail sales proceeds of JPY 500 million in the initial fiscal year and JPY 2 billion three years later.
Retail sales price ranges (tentative) in JPY
Kids
T shirts |
1,500–1,900 |
|---|---|
Half pants |
1,900 |
Jersey sets (undershirt and top) |
3,900 |
Men's
T shirts |
1,900–2,900 |
|---|---|
Sweatshirts |
2,900–3,900 |
Jersey sets (undershirt and top) |
5,900 |
