JALISCO, MEXICO -- (Marketwired) -- 06/17/13 -- LUVE Sports, also known as Prince Mexico S.A., Inc. (PINKSHEETS: LUVE) ("LUVE Sports" or the "Company"), a distribution company focused on expanding the retail reach of high-end sporting goods and related products, is pleased to update shareholders that it is planning on increasing the number of brands for distribution and building on our strong relationship with Prince Sports.
Authentic Brands Group (ABG), a brand development and licensing company based in New York, New York with additional offices in Toronto and Los Angeles, recently acquired Prince Sports Group in 2012. Continuing their mission of owning and licensing brands to highly capable operating partners, ABG's objective is to maintain Prince Sports' historical reign in the tennis world while expanding into new categories.
LUVE Sports has had a tremendous working relationship with Prince Sports since 2008 and continues to purchase inventory during the corporate restructuring. Authentic Brands Group's acquisition of Prince Sports Global could potentially open up a number of other brands for LUVE to distribute in Mexico.
Mexico is the largest targeted market for imported sporting goods in Latin America, accounting for over 60% of the revenue or $266 million of the $437 million industry in 2012. Over the past five years, LUVE Sports has built solid relationships with clients such as Walmart Mexico, Sears Mexico, Liverpool and Marti to name a few. Combined, all these companies have over 2,000 locations just within Mexico.
"We have a great relationship with Prince Sports and are looking forward to increasing our inventory and distribution within Mexico," said Duncan Forbes, President and CEO. "On top of purchasing new product, we are close to finalizing the final details of our new agreement with Prince Sports Group within the next 30 days. We are very excited about the future of LUVE Sports and what growth possibilities the new parent company could present."
About LUVE Sports (PINKSHEETS: LUVE)
LUVE Sports is a sports distribution company focused on delivering industry-leading sport products to the Mexican markets with the plan to expand into the South American markets. To date, the Company has introduced products to the market and established key relationships with corporate partners with proven distribution networks. For more information visit our corporate website at: www.luvesports.com.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, risk reduction, insurance coverage, business strategy, sales of equipment and global markets. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Investor Relations Contact:
For further information regarding LUVE Sports, please contact our Investor Relations Line at:
Prince Mexico S.A., Inc.
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