FOOTHILL RANCH, Calif., Feb. 1, 2005 (PRIMEZONE) -- Oakley, Inc. (NYSE:OO) today announced it will join Olympus Fashion Week at the Atelier in New York to stage the company's first ever formal runway presentation. Scheduled for 6pm on February 5th, the show marks the official launch of Oakley's ready-to-wear line, a collection that showcases looks from the company's Fall 2005 women's range of apparel.
A photo accompanying this release is available at: http://www.primezone.com/newsroom/prs/?pkgid=1389
"The future of fashion includes technology," said Oakley founder and CEO Jim Jannard. "As science defines the future of style, Oakley is uniquely positioned to innovate fashion with technologies that blend form with function, optimizing both."
Oakley's foray into fashion has achieved innovations that support the ongoing trend of merging technology into the everyday life of the consumer. For its women's collection, the company has engineered custom hardware and applied processes that give textiles a look and feel that is uniquely Oakley. Invention in fashion is exemplified by the versatility of the collection, which focuses on the female form with interchangeability that goes from active day to casual night.
"Fashion is the art of invention, and our new line of women's apparel is a natural progression in the story of Oakley, a company dedicated to authenticity," said President Colin Baden. "The Oakley woman demands function, style and creativity. She wants versatility and the ability to make a look uniquely her own. Our new range of women's apparel offers all these things. It excels beyond our goal of making fashion the place where imagination meets innovation. We feel that New York's Fashion Week is the ultimate venue, both on domestic and international levels, for the global impact that our business demands," Baden concluded.
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 also offers an expanding line of premium performance footwear, apparel, accessories, watches and prescription eyewear to consumers in more than 100 countries. Trailing-12-month revenues through September 30, 2004 totaled $548.9 million and generated net income of $34.8 million. Oakley, Inc. press releases, SEC filings and the company's Annual Report are available at no charge through the company's Web site at www.oakley.com.
Safe Harbor Disclaimer
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 "may," "will," "should," "might," "believe," "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: acceptance and performance of the company's 2005 women's range of apparel; risks related to the successful launch and sale of Oakley Thump; 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 Sunglass Hut, which is owned by a major competitor and, accordingly, could materially alter or terminate its relationship with the company; the company's ability to expand distribution channels and its own retail operations in a timely manner; 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; continued weakness of economic conditions could continue to reduce or further reduce demand for products sold by the company and could adversely affect profitability, especially of the company's retail operations; further terrorist acts, or the threat thereof, could continue to 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 acquisitions and licensing arrangements without adversely affecting operations; 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 substantially all of the companies 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, 2003 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.
NOTE TO EDITORS: The photo is also available at NewsCom, www.newscom.com
