SAN FRANCISCO--(Business Wire)--
Sharper Image Corporation (Pink Sheets:SHRPQ) today announced that
it has signed a multiyear licensing agreement with ARG Manufacturing,
Inc. ("ARG"), a market leader with more than 30 years experience
making high quality kitchen utensils, kitchen tools, bakeware and
barbecue tools. This agreement is the twelfth licensing agreement
signed by Sharper Image's Brand Licensing Division. The Division was
established in February 2007 to enable leading manufacturers to
license The Sharper Image brand across a broad range of product
categories.
Under this agreement, ARG will offer high quality, Sharper Image
brand food preparation tools such as spatulas, spoons, ladles, whisks,
slicers, and peelers, as well as other kitchen gadgets such as salad
spinners, pizza cutters, ice cream scoops, and mandolin slicers. The
license will also include bakeware and barbecue tools and tool sets
for sale in kitchen departments. These products will be designed
specifically to meet the quality, excitement and innovation attributes
that are associated with The Sharper Image brand. The first products
will be available in the fall of 2008.
John W. Spotts, Senior Vice-President, Brand Licensing for Sharper
Image, said, "We are very pleased to have ARG as a new licensee. This
new license marks an expanded presence in kitchen products for The
Sharper Image. Unique kitchen products with innovative features are an
important category for the brand and these high quality tools and
bakeware will enhance our customers' kitchen experience."
Joseph Van Houten, President of ARG, added, "We believe The
Sharper Image brand is an excellent fit with our innovative designs
and high quality manufacturing process. We view this as a long-term
opportunity to build The Sharper Image brand into an important player
in the kitchen products category."
About Sharper Image
The Sharper Image is a specialty retailer that is nationally and
internationally renowned as a leading source of new, innovative,
high-quality products that make life better and more enjoyable. The
Company's principal selling channels include Sharper Image specialty
stores throughout the United States; the award-winning Sharper Image
monthly catalog; and its primary Website, www.sharperimage.com. The
Company also has business-to-business sales teams for marketing its
exclusive and proprietary products for corporate incentive and reward
programs and wholesale to selected U.S. and international retailers.
About ARG Manufacturing, Inc.
ARG Manufacturing is an international "factory direct" solution
for Kitchen Tools & Gadgets, Silicone & Non-Stick Bakeware, Cleaning
Products and other non-electric items for the home. In house design
and production teams allow ARG to streamline product development and
provide a supply chain model with improved efficiencies in Asia and
North America. Our mission is to be the Creative, Manufacturing and
Supply Chain source for Retail Channels through Private Label
Manufacturing and utilizing ARG & Licensed brands under our
management. More information on ARG Manufacturing can be found at
www.argmfg.com.
Forward-Looking Statements
This release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements are based on the Company's current plans,
expectations, estimates, and projections about the specialty retail
industry and management's beliefs about the Company's future
performance. Words such as "anticipates," "expects," "intends,"
"plans," "believes," "seeks," "estimates" or variations of such words
and similar expressions are intended to identify such forward-looking
statements. These statements are not guarantees of future performance
and are subject to risks and uncertainties that are difficult to
predict and which may cause the Company's actual results and
performance to differ materially from those expressed or forecasted in
any such forward-looking statements. Some of these risks and
uncertainties are discussed in the Company's Annual Report on Form
10-K for the year ended January 31, 2007 under "Risk Factors". These
risks include, among other factors, the success of its new business
strategy, its ability to continue to find or develop and to offer
attractive merchandise to customers, the market potential for products
in design, the success of its advertising efforts, changes in business
and economic conditions, risks associated with its retail store,
catalog and Internet operations, and changes in the competitive
environment in which it operates. Other risks that the Company faces
include, but are not limited to, the following: (i) the ability of the
Company to continue as a going concern; (ii) the Company's ability to
obtain court approval with respect to motions in the Chapter 11
proceeding prosecuted by it from time to time; (iii) the ability of
the Company to develop, prosecute, confirm and consummate one or more
plans of reorganization with respect to the Chapter 11 case; (iv)
risks associated with third parties seeking and obtaining court
approval to terminate or shorten the exclusivity period for the
Company to propose and confirm one or more plans of reorganization,
for the appointment of a Chapter 11 trustee or to convert the case to
a Chapter 7 case; (v) the ability of the Company to obtain and
maintain normal terms with vendors and service providers; (vi) the
Company's ability to maintain contracts and leases that are critical
to its operations; and (vii) the potential adverse impact of the
Chapter 11 case on the Company's liquidity or results of operations.
Unless required by law, the Company undertakes no obligation to update
publicly any forward-looking statements. However, readers should
carefully review the statements set forth in the reports, which the
Company files from time to time with the Securities and Exchange
Commission, particularly its Annual Report on Form 10-K, its Quarterly
Reports on Form 10-Q and its Current Reports on Form 8-K.
Sharper Image
Tersh Barber, 415-445-6274
or
ARG Manufacturing
Joe Van Houten, 215-345-6295
Copyright Business Wire 2008
