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Heelys signs new sourcing deal with TGB

28
Apr '10
Heelys Inc has announced that they've entered into a new sourcing agreement with TGB, a subsidiary of Anthony L & S, to produce their unique product. The agreement will be effective on all orders beginning May 1, 2010.

“This new agreement gives us several new strategic advantages,” said Tom Hansen, Heelys President and CEO. “TGB is currently sourcing well over 10 million pairs of shoes each year in a wide range of factories. This kind of volume results in more materials buying clout, preferred access and overall pricing improvements that our volume of just over a million new pairs of shoes can't deliver. Plus, we have full access to their internal design team, licensing expertise and years of experience making many different kinds of shoes in many different places.”

Heelys will close their sourcing office in northern China after transitioning through current orders in process. Some key personnel will be retained going forward.

“We're extremely excited about this new partnership,” said Hansen. “It gives us new leverage and new opportunities that we're certain will serve us well going forward.”

Gary Miller, President of TGB said, “We are very pleased to be the sourcing partner of Heelys. We believe this agreement will be highly beneficial for the long term growth of both companies.”

Heelys Inc


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