DALLAS, Jan. 25, 2012 (GLOBE NEWSWIRE) -- Tandy Brands Accessories, Inc. (Nasdaq:TBAC - News) announced today that it has entered into a multi-year license agreement with Arnold Palmer Enterprises (APE), to license and market products in its accessories category under the brands Arnold Palmer(R) and Arnie(R). The Company expects to see incremental impact in its accessories business in the first half of calendar year 2013.
"We are excited to be partnering with Arnold Palmer, one of the most successful names in the game of golf. Arnold Palmer's popularity is legendary and his name provides unquestioned authenticity to our products," said Rod McGeachy, Chairman, President and Chief Executive Officer of Tandy Brands. "This new license agreement is a significant win for Tandy Brands, helping further strengthen our current golf category business as well as opening up additional channels of distribution."
Under the terms of the license agreement, Tandy Brands will have rights to leverage its expertise in golf belts. The Company expects to drive incremental distribution in green grass shops, off-course golf specialty stores, department stores as well as in corporate and E-commerce shops. The license is for retail merchandise in the United States, Puerto Rico and shops at APE designed or managed golf courses in Canada.
"We are pleased to partner with Tandy Brands, as their product and expertise in the belt category fit well within the Arnold Palmer brand," said Cori Britt, VP of Arnold Palmer Enterprises. "As we work to ensure the Arnold Palmer brand is positioned for success, Tandy Brands provides the product and distribution to help us accomplish that goal."
About Tandy Brands
Tandy Brands is a leading designer and marketer of branded men's, women's and children's accessories, including belts, gifts and small leather goods. Merchandise is marketed under various national as well as private brand names through all major retail distribution channels.
About Arnold Palmer Enterprises
Arnold Palmer is many things to many people...world famous golf immortal and sportsman, highly-successful business executive, prominent advertising spokesman, skilled aviator, talented golf course designer and consultant, devoted family patriarch and a man with a down-to-earth common touch. Palmer is President of Arnold Palmer Enterprises, Inc., a multi-division structure which encompasses his global commercial activity and has continuously grown and evolved for over five decades by delivering on a promise of value, integrity and honesty. Arnold Palmer's licensing, endorsements, and spokesman associations are prevalent worldwide. For more information visit: www.arnoldpalmer.com.
Tandy Brands Accessories, Inc.
Rod McGeachy
President and Chief Executive Officer
214-519-5200
Tandy Brands Accessories, Inc.
Sean Aherne
Senior Vice President - International
214-519-5200
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