Business Services Industry
Sharper Image and OfficeMax Announce Licensing Partnership
Business Wire, March 29, 2007
First licensing agreement for Sharper Image's Brand Licensing Division
OfficeMax to offer Sharper Image Office([R]) home office furniture and accessories
SAN FRANCISCO & NAPERVILLE, Ill. -- Sharper Image Corporation (NASDAQ: SHRP) today announced a multi-year licensing agreement with OfficeMax([R]) Incorporated (NYSE: OMX), a leader in office products and services. The agreement with OfficeMax is the first to be announced by Sharper Image's newly created Brand Licensing Division.
Under the agreement, OfficeMax will offer Sharper Image branded office furniture and accessories made exclusively for OfficeMax under the Sharper Image Office([R]) brand. Products will include desks, chairs, shredders, desk sets, accessories and related items. The furniture line's quality construction, unique functions and features will be consistent with the quality, excitement and innovation associated with Sharper Image products. The first product collection is currently rolling out into OfficeMax stores, with additional collections to debut throughout 2007 and beyond.
Michael D. Kitz, Vice President of Product Development and Imports for OfficeMax said, "Entering into a licensing agreement with Sharper Image comes as we look to differentiate OfficeMax with a brand that is highly desired by customers and to expand our home office furniture selection. Today, our customers want to create a home office environment that goes beyond the basics. The Sharper Image Office product line is a nice balance between form, function and style that adds a whole new level of sophistication to OfficeMax's home office furnishings and complements our commitment to quality."
John W. Spotts, Senior Vice President, Brand Licensing of Sharper Image, said, "We are delighted to establish our first licensing agreement with OfficeMax, a nationally recognized brand and a leader in office supplies. The agreement with OfficeMax presents Sharper Image with an opportunity to expand our access to a large and loyal consumer base. We look forward to a long and successful partnership with OfficeMax."
Sharper Image recently announced the formation of its Brand Licensing Division, headed by licensing veteran John W. Spotts. The Company licenses The Sharper Image brand to leading manufacturers and retailers across a broad range of product categories. Sharper Image also provides licensing opportunities on other intellectual property, including patents and trademarks.
About Sharper Image
The Sharper Image is a specialty retailer that is nationally and internationally renowned as a leading source of new, innovative, high-quality products that make life better and more enjoyable. The Company's principal selling channels include 187 Sharper Image specialty stores throughout the United States; the award-winning Sharper Image monthly catalog; and its primary Web site, www.sharperimage.com. The Company also has business-to-business sales teams for marketing its exclusive and proprietary products for corporate incentive and reward programs and wholesale to selected U.S. and international retailers.
About OfficeMax Incorporated
OfficeMax Incorporated (NYSE: OMX) is a leader in both business-to-business and retail office products distribution. The OfficeMax mission is simple: to help our customers do their best work. The company provides office supplies, print and document services through OfficeMax Impress[TM], technology products and solutions, and furniture to large, medium and small businesses and consumers. OfficeMax customers are served by approximately 35,000 associates through direct sales, catalogs, e-commerce and more than 900 stores. For more information, visit: www.officemax.com.
Forward-Looking Statements
This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on Sharper Image's current plans, expectations, estimates, and projections about the specialty retail industry and management's beliefs about Sharper Image's future performance. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates" or variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to risks and uncertainties that are difficult to predict and which may cause Sharper Image's actual results and performance to differ materially from those expressed or forecasted in any such forward-looking statements. Some of these risks and uncertainties are discussed in Sharper Image's Quarterly Report on Form 10-Q for the quarter ended October 31, 2006 under "Risk Factors." These risks include, among other factors, Sharper Image's ability to continue to find or develop and to offer attractive merchandise to customers, the market potential for products in design, changes in business and economic conditions, risks associated with the expansion of its retail store, catalog and Internet operations, and changes in the competitive environment in which it operates. Unless required by law, Sharper Image undertakes no obligation to update publicly any forward-looking statements. However, readers should carefully review the statements set forth in the reports, which Sharper Image files from time to time with the Securities and Exchange Commission, particularly its Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and its Current Reports on Form 8-K.
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