ITOCHU Announces Acquisition of Trademark Right for Outdoor Products
November 21, 2012
ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Masahiro Okafuji, President & CEO; hereinafter “ITOCHU”) announced today that it has acquired the trademark for thirteen regions in Asia (Japan, China, Hong Kong, Korea, Taiwan, Thailand, Indonesia, Malaysia, Singapore, Vietnam, India, Philippines, Borneo), four regions in the Middle-East, and two regions in South America, a total of nineteen regions, for the Outdoor Products brand that belongs to The Outdoor Recreation Group USA.
The Outdoor Products brand was created in Los Angeles, USA, in 1973. Based on the concept “Our customers’ wishes are our number-one priority,” its products that offer excellent design features, durability, and value for money have come to be highly regarded. With its firm position established not only in the United States but in the global outdoor scene, model 452 made from the strong Cordura® nylon fabric, in particular, has become a byword for day pack. Currently, the product line is wide-ranging, from day packs and duffle bags to luggage, clothing, rainwear, sunglasses, bicycles, watches, and towels and the range is sold in over sixty countries, with the United States and Japan the main markets.
The recent booming economies in Asia and other emerging markets have led to a strong tendency among middle-income earners in particular to seek better lifestyles. Demand for outdoor goods to enhance enjoyment of daily life and leisure time has also risen, and it is expected that the needs for the product range Outdoor Products brand offer will increase even more.
The acquisition of this trademark right provides ITOCHU with the opportunity to create a stronger worldview for the Outdoor Products brand and introduce it to a wider audience. ITOCHU will also harness the power of its global network to streamline production and distribution with an eye to further enhancing its value and expanding the brand in Asia and other regions.
In Japan existing business will be continued, primarily through mass merchandiser and specialty store channels, with expansion gradually accelerating in the other regions. The aim is to achieve sales of 30 billion yen on a retail sales basis in five years.