Russell CP Delaware (NYSE:RML)
Historical Stock Chart
From Jan 2020 to Jan 2025
Russell Announces Spalding Agreement Including Products, Retail
Stores in China
ATLANTA, May 12 /PRNewswire-FirstCall/ -- Russell Corporation (NYSE:RML)
announced today that its Spalding division has signed a strategic alliance
agreement with Kangwei to design, manufacture and sell Spalding products in
China. The agreement covers athletic apparel, footwear and accessories.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030630/RMLCORPLOGO )
Kangwei has established a separate subsidiary, Guangzhou Ganwei Sports Goods
Co., Ltd., to focus on the Spalding brand. Ganwei will launch Spalding apparel
and footwear in June 2005. Additional plans call for Ganwei to open as many as
600 self-owned or franchised retail stores selling Spalding apparel, footwear
and equipment by the end of 2006.
"Kangwei's experience with launching athletic brands and managing the business
will be extremely beneficial as we continue to take advantage of the growing
global popularity of the Spalding brand," said Scott Creelman, president and
CEO of Spalding. "Additionally, they have been successful with their Kangwei
branded sports products and certainly have a tremendous understanding of the
market in China."
Founded in 1986, Kangwei is a privately held company located in Guangzhou and
was one of the first companies specializing in sporting goods products in
China. In 19 years, it has become one of the largest Chinese sports brands
with more than 1,000 self-owned or franchised retailing outlets under the
Kangwei brand.
About Russell Corporation
Russell Corporation is a leading branded athletic and sporting goods company
marketing athletic apparel, uniforms, footwear and equipment for a wide variety
of sports, outdoor and fitness activities. The Company's major brands include
Russell Athletic(R), JERZEES(R), Spalding(R), Brooks(R), Huffy Sports(R),
Bike(R), Moving Comfort(R), AAI(R) and Mossy Oak(R). The Company's common stock
is listed on the New York Stock Exchange under the symbol RML and its web site
address is http://www.russellcorp.com/ .
About Spalding
Springfield, MA-based Spalding is a leading producer and marketer of
basketballs, footballs, volleyballs and soccer balls under the Spalding brand
name and softballs under the Dudley brand. Spalding is the official basketball
supplier of the national Basketball Association (NBA) and the Women's National
Basketball Association (WNBA), the official volleyball of the National
Collegiate Athletic Association (NCAA) and American Volleyball Association
(AVA), the official soccer ball of the Major Indoor Soccer League (MISL) and
the official football of the American Football League (AFL) and Pop Warner.
Spalding was acquired by Russell Corporation in May 2003. Spalding and
Russell's other business units, American Athletic (AAI) and Huffy Sports
brands, collectively combined, are now part of the largest basketball equipment
provider in the country. AAI is the leading seller of gymnastics equipment in
the country as well as institutional basketball backboards, and Huffy Sports,
is a leader in basketball backboard systems.
http://www.newscom.com/cgi-bin/prnh/20030630/RMLCORPLOGO
http://photoarchive.ap.org/
DATASOURCE: Russell Corporation
CONTACT: Financial, K. Roger Holliday, +1-678-742-8181, or Media, Nancy
Young, +1-678-742-8118, both of Russell Corporation
Web site: http://www.russellcorp.com/