Hot Tuna breaks into the No1 Australian department store Myer and No1 US surf retailer Pacific Sun Wear
12 April 2007
Hot Tuna (International) PLC (AIM:HTT), a lifestyle apparel brand with authentic surf heritage, is pleased to announce that it has won lucrative orders, which will be delivered from June and July 2007, from the two largest market contenders in Australia and the United States.
Hot Tuna has taken orders from Myer, Australia’s largest department store. With 60 stores nationally, Myer is the market leader in Australian retailing with the most recent results reflecting half year sales of AUD$1.6 billion.
Myer has placed orders for the Hot Tuna boys clothing range (8-16 years). Delivery on boys-wear will commence in July 2007 to all of Myers’ 60 nationwide stores. Myer have also confirmed that they will be able to place Hot Tuna accessories (backpacks, caps, wallets and sunglasses) into 15 of these stores using a Hot Tuna concept store arrangement.
The Company is also pleased to announce that it has secured orders from Pacific Sunwear. Pacific Sunwear, based in the United States, is the world’s largest specialty retailer of action sports and related accessories and footwear designed to meet the needs of active teens and young adults. Pacific Sunwear is also the largest retailer of surf apparel in the USA.
Pacific Sunwear has placed orders for women’s swim and men’s apparel for delivery from June 2007. As of March 15, 2007, the company operated a total of 1,119 stores, of which 950 are specifically focused on the surf industry, in 50 states. Pacific Sunwear’s recent results showed sales of approximately USD$1.4 billion.
Commenting on the announcement, Ranjit Murugason, Chairman of Hot Tuna (International) PLC, said: “The orders from Myer and Pacific Sunwear demonstrate the growing appetite for Hot Tuna products in two of the Group’s core geographic markets. Both Myer and Pacific Sunwear are fantastic outlets from which to distribute our products and to facilitate the re-launch of one of the surf communities’ favourite brands. We could not have hoped to secure stronger platforms in the two most important surf markets in the world and I am confident that the Hot Tuna brand will be further strengthened with the increased profile it will receive following these orders.”
For further information:
| Hot Tuna (International) PLC | |
| Ranjit Murugason, Executive Chairman | Tel: +44 (0) 20 7372 9378 |
| ranjit_murugason@hottunaplc.com | |
| Seymour Pierce Limited | |
| Sarah Wharry / Parimal Kumar | Tel: +44 (0) 20 7107 8000 |
| parimalkumar@seymourpierce.com | www.seymourpierce.com |
Media Enquiries:
| Abchurch | |
| Henry Harrison-Topham / Chris Lane | Tel: +44 (0) 20 7398 7700 |
| chris.lane@abchurch-group.com | www.abchurch-group.com |
Notes to Editors:
Hot Tuna International PLC (AIM:HTT) owns the rights to the Hot Tuna brand, a progenitor of global youth fashion, born in Australia with a heritage of authentic surf culture.
Hot Tuna is one of the world's most iconic names in surf lifestyle and can trace its roots back to 1969 when it was founded by a surfer and his fashion designer wife. Though the label had not been actively marketed over for the last decade, it retained an organic cult status among core action sports enthusiasts.
In June 2005, Hot Tuna International PLC purchased the 'Hot Tuna' brand from Frontier International (Holdings) Pty Ltd, listed on AIM in September 2005, and has since started to aggressively market the brand and reinvigorate the business. The Company now owns all intellectual property rights to its name and related iconography, and has put in place key management drawn from the executive ranks of Quiksilver, O'Neill and Ocean Pacific, among others.
Headquartered in the UK, Hot Tuna operates design, marketing and distribution hubs in the USA, Australia and the UK. In its core markets, Hot Tuna sells products, which are directly manufactured in facilities in North America, Europe and in China.
Hot Tuna offices are maintained in Sydney, Los Angeles and London. For more information, visit www.hottunaplc.com
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