New China JV for Deckers Outdoor and UGG - sportstextiles: Lea SportsTextiles

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New China JV for Deckers Outdoor and UGG

11/07/2008

Deckers Outdoor Corporation has entered into a joint venture with Stella International Holdings Limited under which it will open retail stores and begin wholesale distribution for the UGG Australia brand in China. Initial plans anticipate the opening of one to two stores in 2008.

Deckers will have a 51% share in the joint venture, while Stella International will own the remaining 49%. The estimated total investment amount for the joint venture is approximately $5 million.

President and chief executive officer at Deckers, Angel Martinez, said: "China has quickly become a dynamic market for US consumer branded footwear and apparel and we are confident that UGG Australia's lifestyle message and product line will resonate very well in this new market.”

Stella International develops and manufactures footwear products for various casual and fashion footwear companies worldwide. Its shoes are manufactured at its own facilities in Guangdong Province, China, and through processing and contractual arrangements in both China and Vietnam.

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