FOOTHILL RANCH, Calif., Aug. 2, 2005 (PRIMEZONE) -- Oakley, Inc. (NYSE:OO) today announced the release of its fall 2005 apparel and accessories line. New products include technical outerwear that underscores the company's emphasis on performance technology. In addition, new lifestyle products are designed to further the company's objective of capturing a more youthful customer base, one that defines itself with individual sports, music and fashion.
"In men's and women's technical outerwear, we exhausted the R&D team with extensive product testing, both on the mountain and in the lab," said Oakley President Colin Baden. "The payoff came in numerous styles with industry-leading breathability and waterproofing. We also extended our golf and mountain biking apparel lines with multiple new product offerings that enhance performance and comfort. The technology story continues in our accessory line, with new innovations in packs and bags."
Oakley's newest array of technical apparel for women includes the definitive styling of the company's Profit jacket, which features a removable polyfill vest, and the new Cash pant, which helps shield the wearer from a full range of mountain weather. For men, Oakley's new tech line includes an environment suit called Medic with Thermoloft(r) insulation, and a new pant called Helix 2.5 that allows athletes to maintain a comfortable temperature under varying exertion levels and weather conditions.
Oakley's new technical outerwear achieves industry-leading water resistance up to 20,000 mm while retaining breathability up to 20,000 g/m2/24h - numbers that translate to premium waterproofing and high breathability. This helps to keep the wearer dry and comfortable by shielding against environmental moisture while allowing the moisture vapor of perspiration to escape. Additional technologies in the new line include GORE AIRVANTAGE(r) inflatable insulation systems and custom venting systems that allow for precise regulation of airflow. With durability proven by professional athletes, Oakley technical apparel is now backed by a one-year limited warranty.
The new Oakley apparel products for golf and mountain biking are highlighted by unique fabrications that optimize comfort and ergonomics. These benefits extend to the company's comprehensive new lifestyle line that features jackets, pants, shirts and tops with distinctive Oakley design cues.
"Performance technology has always been a precept of Oakley and a primary focus, but we put equal weight on the art that shapes the science," Baden continued. "It took years of hard work for the brand to reach the leading edge of lifestyle fashion, and our fall 2005 apparel products are designed to extend brand recognition in that area with the use of styling, colors and graphics that are uniquely Oakley," Baden concluded. The company now offers a wide range of accessory items including backpacks, wallets, and hats as well as travel, computer and golf bags. Numerous products in the fall 2005 line take advantage of the company's Adaptable Payload(tm) (AP) system, an innovation that allows the user to reconfigure for light or bulky cargo by removing storage compartments and interconnecting with other products in the AP line.
Oakley packs and bags available in fall 2005 feature specialized and broad application designs. This includes a sling-style bag called the AP Sandbag that takes advantage of the company's AP system, the Graphic Pack with skateboard tie-downs, and the Double Payload Duffle that opens like a doctor's bag. Women's accessories include the new Low Voltage Bag with light emitting diodes (LEDs) for internal illumination, the Traveler Purse with D-ring attachment points, and the Metal Purse made with die-cast aluminum.
Glove products in the fall line include the Oakley Winter Glove with Pittards(r) leather and 3M(r) Thinsulate(r), an S.I. glove designed to maximize tactile feel, and the Factory Pilot glove for mountain biking. The Oakley Race Glove has been worn by winning NASCAR drivers including Tony Stewart, Jamie McMurray and Rusty Wallace. The company also recently announced the release of its O-CarbonX fabric which serves as the foundation for its fire- base layer protective race wear.
About Oakley, Inc.
Oakley: a world brand, driven to ignite the imagination through the fusion of art and science. Building on its legacy of innovative, market-leading, premium sunglasses, the company offers a full array of products including performance apparel and accessories, prescription eyewear, footwear, watches and electronics to consumers in more than 100 countries. Trailing-12-month net sales through June 30, 2005 totaled $615.3 million and generated net income of $49.0 million. Oakley, Inc. press releases, SEC filings and the company's annual report are available at www.oakley.com.
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This press release contains certain statements of a forward-looking nature. Such statements are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including but not limited to growth and strategies, future operating and financial results, financial expectations and current business indicators are based upon current information and expectations and are subject to change based on factors beyond the control of the company. Forward-looking statements typically are identified by the use of terms such as "look," "may," "will," "should," "might," "believe," "plan," "expect," "anticipate," "estimate" and similar words, although some forward-looking statements are expressed differently. The accuracy of such statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including but not limited to: risks related to the sale of OAKLEY THUMP(tm) and new product introductions in the company's electronics category; the company's ability to maintain approved vendor status and continue to receive product orders from the U.S. military; the company's ability to integrate and operate acquisitions, the company's ability to manage rapid growth; risks related to the limited visibility of future sunglass orders associated with the company's "at once" production and fulfillment business model; the ability to identify qualified manufacturing partners; the ability to coordinate product development and production processes with those partners; the ability of those manufacturing partners and the company's internal production operations to increase production volumes on raw materials and finished goods in a timely fashion in response to increasing demand and enable the company to achieve timely delivery of finished goods to its retail customers; the ability to provide adequate fixturing to existing and future retail customers to meet anticipated needs and schedules; the dependence on eyewear sales to Luxottica Group S.p.A, which, as a major competitor, could materially alter or terminate its relationship with the company; the company's ability to expand and grow its distribution channels and its own retail operations; unanticipated changes in general market conditions or other factors, which may result in cancellations of advance orders or a reduction in the rate of reorders placed by retailers; a weakening of economic conditions could continue to reduce demand for products sold by the company and could adversely affect profitability, especially of the company's retail operations; terrorist acts, or the threat thereof, could adversely affect consumer confidence and spending, could interrupt production and distribution of product and raw materials and could, as a result, adversely affect the company's operations and financial performance; the ability of the company to integrate licensing arrangements without adversely affecting operations and the success of such initiatives; the ability to continue to develop and produce innovative new products and introduce them in a timely manner; the acceptance in the marketplace of the company's new products and changes in consumer preferences; reductions in sales of products, either as the result of economic or other conditions or reduced consumer acceptance of a product, could result in a buildup of inventory; the ability to source raw materials and finished products at favorable prices to the company; the potential impact of periodic power crises on the company's operations including temporary blackouts at the company's facilities; foreign currency exchange rate fluctuations; earthquakes or other natural disasters concentrated in Southern California where a significant portion of the company's operations are based; the company's ability to identify and execute successfully cost control initiatives; and other risks outlined in the company's SEC filings, including but not limited to the Annual Report on Form 10-K for the year ended December 31, 2004 and other filings made periodically by the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The company undertakes no obligation to update this forward-looking information. Nonetheless, the Company reserves the right to make such updates from time to time by press release, periodic report or other method of public disclosure without the need for specific reference to this press release. No such update shall be deemed to indicate that other statements not addressed by such update remain correct or create an obligation to provide any other updates.
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