Apex announces new partnerships to support international expansion at Hi-Tec
Apex Global Brands, formerly known as Cherokee Global Brands, announced on Thursday that it has signed a series of new licensing and distribution deals for its Hi-Tec sportswear brand in North America, Europe and Asia.
It is hoped that through the new partnerships, Hi-Tec will be able to offer fans an expanded assortment of products in the markets concerned starting this fall.
In Europe, Hi-Tec’s distribution partnerships have been expanded with a number of specialty retailers, including Urban Outfitters and Foot Locker, while in Asia the brand has gained new footwear distribution deals in China and Korea.
Apex further announced that “advanced discussions are underway” concerning the possibility of distributing Hi-Tec apparel and accessories in China, Japan and Korea in the future.
“Hi-Tec’s global framework continues to add wholesale, retail and online opportunities, playing a significant strategic role within the larger Apex portfolio,” commented Apex CEO Henry Stupp in a release. “We look forward to partnering with some of the very best retailers in men's and women's sport and specialty fashion to bring the brand to an even broader group of consumers.”
As for North America, Hi-Tec can now boast a string of new licensees in the region, as deals have been signed with the likes of Ampac, Kenmark and Affinity Brand Partners, for the production of backpacks and bags, eyewear, and tech accessories, respectively.
Initially a footwear brand, Hi-Tec launched its first mens and womenswear range in fall of last year, and has since been busy capitalizing on the streetwear and logomania trends with its laid-back, sporty apparel offering.
Apex managed to reduce its net loss from continuing operations to $2.3 million in the first quarter, compared to a loss of $2.7 million in the prior-year period. This progress was supported by the company’s ongoing restructuring efforts, which resulted in a reduction of 42% in its SG&A costs over the course of the previous fiscal year.
As well as Hi-Tec, Apex’s brand portfolio includes Cherokee, Tony Hawks and 50 Peaks, among others.
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