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FOOTHILL RANCH, Calif.--(BUSINESS WIRE)--Aug. 8, 2002--Oakley Inc.
(NYSE:OO) today announced a strategic marketing alliance with
Chevrolet and its Silverado 1500HD truck series.
Terms of the coalition allow Oakley to customize four Chevrolet
1500HD Silverados for use in its sports marketing program. The
customized vehicles will be displayed at auto shows and prominent
sporting events throughout the country where Oakley's sports marketing
team provides competition services for world-class sports
These venues include AMA National Motocross Series, NORBA Mountain
Bike Series, ESPN X Games, Gravity Games, PGA and LPGA golf
tournaments, NASCAR, NHRA and various grass-roots events.
"There's a common aim between our brands," commented President
Colin Baden. "We both target durability, comfort, performance and
dependability under extreme conditions. Oakley and Chevy also have a
common history of supporting sports competitions, and this alliance is
a way to leverage our combined visibility while showcasing the
unconventional thinking behind our inventions."
Design director for Chevrolet Truck, Clay Dean commented, "This
partnership provides an opportunity to leverage the marketability of
these two brands, Oakley with its long-standing alliance with
high-profile athletes and its connection with youth, and Chevy with
its well-earned reputation for making great trucks."
To customize the vehicles to Oakley's standards, the company is
tapping into a wellspring of industry expertise. The renowned
craftsmanship of Street Concepts, a custom auto developer in
California, is being utilized for surface detailing and truck bed
reconfiguration. The custom riveted look paint was laid by Paint N
Place. Fabtech Suspensions were enlisted to retool suspension systems.
Fox Racing Shox and 18-inch off-road racing wheels by Concept
Neeper and OMF beadlocks will arm the trucks for unforgiving terrain,
and newly engineered BF Goodrich KO Mud Terrain tires will round out
the stance. Powerful Kenwood sound systems and DVD navigation will
pump music into cockpits fitted with custom-finished seats from
Katzkin made of leather and Kevlar(R).
Additional enhancements include off-road lighting by PIAA, Xciting
lighting headlights, and APC marker lights. Tuned exhaust systems by
Magna Flow and fitted bedcovers by Snug Top which encompass the
completely sheetmetal beds by Twins Custom Concepts. "This isn't about
adding an extra cup holder or embossing `Limited Edition' on a
tailgate," said Baden.
"We've honed these rigs into war wagons for our marketing team,
combat-ready for today's asphalt jungles and off-road badlands."
Upon completion, the vehicles will be showcased on Oakley and
Chevrolet Web sites. Dedicated Web pages for highlighting features and
benefits will be found at www.oakley.com and www.streetconcepts1.com.
About the Silverado 1500HD
The Silverado 1500HD Crew Cab is the latest edition from Chevy.
Its powerhouse is a Vortec 6000 V8, and it features four-speed
automatic transmission with overdrive, a true four-door design,
comfortable seating for up to six people, and the durability of a
machine built Chevy-tough.
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 70
Trailing-12-month revenues through June 30, 2002 totaled $458.9
million and generated net income of $45.5 million -- a 9.9 percent net
Oakley news releases, SEC filings and the company's Annual Report
are available at no charge through the company's Web site at
Safe Harbor Disclaimer
This news 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.
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:
risks related to the company's ability to manage rapid growth; 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 weakening of economic conditions could 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; 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
effect of periodic power crises on the company's operations including
temporary blackouts at the company's facilities; foreign currency
exchange rate fluctuations; 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 Dec. 31, 2001 and other filings made
periodically by the company. The company undertakes no obligation to
update this forward-looking information.
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