Embargoed: 0700 Friday 27th October 2006
INTERNATIONAL BRAND LICENSING PLC ANNOUNCES NEW ADMIRAL TEAM LICENSEE FOR UK
AND REPUBLIC OF IRELAND
International Brand Licensing Plc ("IBL") announces that it has signed a
license agreement with Tenzero Ltd for the UK and Ireland for the categories of
Team Sports Clothing and Equipment. The six year agreement has minimum
guaranteed royalties of £189,000 during the term of the contract.
IBL Chief Executive, Tony Hutchinson, comments: "We are very pleased to have
signed an agreement with Tenzero, a newly formed division of Sondico UK. The
Tenzero principals have a wealth of experience in the performance categories
and first class relationships in the sports retail sector of both the UK and
Ireland. Launching in spring 2007 we look forward to seeing Admiral football
and cricket kits once again gracing the parks and playing fields around the
country.
This announcement underlines the strategic transition of Admiral's distribution
in the UK. Combined with recent agreements announced with ASDA and Rajan Group
Plc, the Tenzero agreement realigns Admiral into a multi category/sector brand
as opposed to operating a traditional single distribution model.
As a consequence of the strategic transition, we are receiving minimum
guarantees, demonstrating a growing confidence in the Admiral brand in the UK
market. Discussions with other potential partners for additional categories
should result in the further strengthening of Admiral in the future."
Admiral is the exclusive kit supplier to the England & Wales Cricket Boards as
well as Leeds United Football Club.
For further information please contact:
International Brand Licensing Plc
Tony Hutchinson 0041 79 468 9450
Adam Reynolds 020 7245 1100