LOS ANGELES, Jan. 6, 2004 (PRIMEZONE) -- Bluetorch Inc. (OTCBB:BTOR) announced today that one of its wholly owned subsidiaries, Total Sports Distribution Inc., signed a letter-of-intent with Colorado-based Collective Licensing International LLC to license the Airwalk(r) name for apparel in the United States market. The Airwalk brand, best known as one of the largest action sports brands in the world, has been marketing and selling apparel for just over two years through major U.S. retailers such as The Sports Authority and J.C. Penney. The impending licensing agreement would allow for Bluetorch's subsidiary Total Sports Distribution to start shipping product into the U.S. market in July 2004.
Bruce MacGregor, President and CEO of Bluetorch Inc. said, "By any standard, Airwalk qualifies as a major brand within our industry. The opportunity to work with a preeminent brand such as Airwalk is truly a tremendous milestone for our company. The Airwalk license will provide Bluetorch with a solid revenue platform for 2004, with the potential for tremendous revenue increases in 2005 and beyond. In the July 2003 issue of Sporting Goods Business, the top 50 sporting goods brands were ranked in terms of brand awareness, and only Quiksilver, among all the other action or extreme sport brands, ranked higher than Airwalk."
Added MacGregor, "We envision following the distribution road map that has already been initiated with Airwalk apparel, which encompasses selling into the department store channel, sporting goods chains and core snowboarding shops."
Bruce Pettet, CEO of Airwalk International LLC said, "As we have undergone the transition of our company to this licensing model, we have been pleased with the overwhelming interest of companies that understand the strength and reach of the brand. We are very excited about our potential relationship with Bluetorch Inc. Obviously, there were many interested parties, but we feel confident that Bluetorch Inc. represents our best opportunity to maximize the full potential of Airwalk apparel."
About Airwalk(r)
Airwalk was launched in the U.S. market in 1986. The brand is considered one of the true pioneers in the action sports market. Today, Airwalk has become a mainstream brand in the global consciousness through the brand's innovative and authentic style.
About Bluetorch Inc.
Bluetorch Inc. is an emerging extreme sports company that is rapidly establishing itself as a one-stop shop in the extreme sports industry with a multi-branded portfolio. Bluetorch Inc. presently markets and wholesales Bluetorch branded apparel and TSA Clothing. Beyond apparel, the Company's goal is to translate the Bluetorch name into a complete lifestyle brand focusing on an eclectic array of products for the core extreme sports enthusiast. The TSA Clothing brand, after over ten years of distribution in the core shops, is now targeting major retailers in both the sporting goods and department store retail segments. Management has a well-defined growth strategy focused on licensing, product diversification, and a marketing program that encompasses the entire spectrum of the extreme sports community. The Company's management philosophy is based on establishing sound fundamentals, which over time will produce consistent earnings for the shareholders. The business model is directed towards the extreme sports arena, one of the fastest-growing segments in both the sporting goods and apparel industries. The business strategy also calls for further acquisitions and/or licensing agreements that can contribute to an expansion of distribution channels, which in turn can contribute growth in revenues and earnings. For more information or to stay updated on the Company's progress, visit: www.bluetorchinc.net
Investor Contact Information: Marge Rohr at (562) 983-8045 or investors@bluetorchinc.net, and Geoffrey Eiten, OTC Financial Network, (781) 444-6100 x613 or geiten@otcfn.com .
Safe Harbor:
This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The risks and uncertainties that may affect the operations, performance development and results of the Company's business include but are not limited to fluctuations in financial results, availability and customer acceptance of our products and services, the impact of competitive products, services and pricing, general market trends and conditions, and other risks detailed in the Company's SEC reports.