May 28, 2003
BOSTON, May 28, 2003 - New Balance Athletic Shoe, Inc. announced today that it has signed a license agreement with Moretz Sports for performance socks. Effective January, 2004, Moretz Sports will manufacture, market and distribute New Balance performance socks in association with the New Balance sales force.
Moretz Sports is a Newton, N.C.-based sock wear company founded in 1946 and is headed by CEO John Moretz. Moretz Sports manufactures, markets & distributes athletic, casual and fashion socks for national and regional retailers.
"This opportunity allows us to continue to provide a broad assortment of New Balance performance socks for real athletes and also expands our support of domestic manufacturing," says Jim Tompkins, president and COO of New Balance.
"We are honored with our New Balance association and look forward to creating performance socks in keeping with New Balance's sports heritage," says Lee Moritz, President of Sales, who will lead the Moretz organization.
New Balance Athletic Shoe, Inc., headquartered in Boston, MA, is a leading manufacturer of technologically innovative width-sized footwear and athletic apparel for women, men, and children. The range of product categories includes running, walking, cross training, basketball, tennis, adventure sports, and kids. Hiking and work boots, sandals, boat shoes, and rugged casuals are also available through the company's Dunham Bootmakers division. Dunham joined the New Balance family in Fall 1998. New Balance acquired the rights to the PF Flyers brand in February 2000. An active casual, lifestyle brand, PF Flyers is available to consumers for Spring 2003. New Balance Athletic Shoe, Inc. employs more than 2,400 people around the globe, and in 2002 reported worldwide sales of $1.3 billion. For more information please visit http://www.newbalance.com.
