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Article Excerpt
Has option to purchase up to 20% of Mainland Headwear Holdings - Partnership Provides Entry into Chinese Retail Market
BUFFALO, N.Y., Oct. 21 /PRNewswire/ -- Today, New Era Cap Co., Inc., the leading headwear designer and manufacturer, announced that it has signed a partnership agreement with Mainland Headwear Holdings Ltd., one of Asia's leading distribution, design and retailers that produces headwear under license for Timberland, Warner Brothers, NCAA, NASCAR and Titleist. The partnership will allow New Era to service its growing demand in Europe and other international markets as well as gain entry into the lucrative and expanding Chinese market where Mainland already has a strong retail presence.
As part of the seven-year agreement, Mainland Headwear will manufacture and produce headwear for New Era Cap. Mainland will also grant New Era an option to purchase five percent of the common stock of Mainland and an additional 15...
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