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Giro to Launch High-End Shoe Line

Published August 16, 2010

VAN NUYS, CA (BRAIN)—Giro has announced plans to broaden its product portfolio with a new line of men’s and women’s cycling shoes set to launch this fall.

Paul Harrington, CEO of Easton Bell Sports, Giro’s parent company, spoke about the new category during a second quarter conference call last Wednesday.

“We are positioned to launch a collection of high end cycling footwear that includes road and mountain shoes from men and women retailing from $199 to $349,” Harrington told financial analysts.

“Highlights include Easton engineered carbon fiber outsoles, premium materials and adjustable footbeds. At 195 grams, the Prolite model will be lightest product shoe on the market and was worn by Levi Leipheimer in the recent Tour de France. Key retailers in both U.S. and Europe have already committed to carrying this line for next year’s cycling season.”

To start off, Giro shoes will be available to about 500 U.S. retailers.

Harrington said the shoe line represents two years of design and development work from the Giro team. The collection will debut at Eurobike. Besides helmets, Giro in recent years has expanded into sunglasses, snow goggles and gloves.

Easton Bell will also launch an updated version of Easton’s top-of-the-line EC90 aero carbon clincher wheel for 2011, Harrington said.

Recent success with Easton wheels helped drive Easton Bell’s Action Sports division to a second quarter revenue increase of 8.1 percent. Wheel sales were up 41 percent for the quarter.

Sales of Blackburn accessories grew 15.8 percent in the Sporting Goods channel, Harrington said.

The Action Sports segment, which includes Easton’s cycling and snow and motorsports divisions, reported second quarter revenue of $93.5 million, up from $86.5 million for the same quarter in 2009. For the first six months of the year, sales are up to $168.3 million compared with $163.5 million last year.

—Nicole Formosa

Topics associated with this article: Earnings/Financial Reports

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