PLANO, Texas and HADDONFIELD, N.J., July 31, 2008 (PRIME NEWSWIRE) -- Leading golf products manufacturer Adams Golf, Inc. (Nasdaq:ADGF) and trend-setting women's bag and accessories designer Keri Murschell of keri golf announce an exclusive strategic partnership between the two companies, including collaboration in the areas of design, sales, finance and marketing.
Effective immediately, the agreement calls for Murschell to continue independently designing and producing her signature keri golf line, with Adams Golf handling the brand's operations, including sales, distribution and customer service. The 36-year-old Murschell -- whose work has received international acclaim and was recently featured in O, The Oprah Magazine -- will consult on the design of Adams Golf's women-specific bags, and future projects.
"The market has really responded to the keri golf aesthetic since day one and we're excited to broaden the line's horizons by partnering with one of the industry's top companies," says Murschell, keri golf founder and principal designer. "Adams Golf has a great sales and logistics network in place, allowing me to focus on designing statement-making collections for both our brands."
The formal relationship between the two companies comes on the heels of keri golf's 60 percent sales growth in the first half of 2008 following the successful launch of its "mk" collection. The line's distinctly feminine cart and stand bags, totes and head covers continue to grow in popularity and are carried in competition by several high-profile LPGA Tour players, including Christina Kim, Michelle McGann and World Golf Hall of Fame member Se Ri Pak.
"This is an exciting new partnership for Adams Golf and we're looking forward to expanding our women's golf business with the unique insight and resources that keri golf provides," says Chip Brewer, Adams Golf president and CEO. "For the past several years we've made substantial investments in developing brands and products specific to the women's game. We believe the synergies of this partnership will allow both Adams Golf and Keri to take our women's business to even higher levels."
Known for merging chic designs with practical features, fashionable and functional details of all keri golf bags include spacious storage, external tee holders, interior pockets for balls, cell phones and wallets, and a unique, patent-pending shoulder strap system with a recessed well on the cart bags for a streamlined look.
The mk collection, named for Murschell's daughter Mary Kate, features a new lighter-weight construction and sophisticated shades of brown, ivory, blue and pink in prints ranging from bold florals to modern geometrics. The latest offerings highlight the line's attention to detail in elegant touches that include leather trims, gold-plated hardware and personalized monogramming alongside detachable zip bags and mirrors in coordinated fabrics.
Retailing from $75 to $375, keri golf's luxury bags and accessories are exclusively made with premium fabrics that bring personality to the course. Durable water-, stain- and piling resistant materials are combined with unmatched craftsmanship to create sleek, modern looks.
For more information, please visit www.kerigolf.com or call 856.616.9064.
About keri golf
A life-long golfer, Murschell started keri golf in 2003 with an eye toward combining her passion for golf, travel and fashion. Her goal was to create a feminine golf bag with classic appeal and rich accents. Carried in competition by LPGA Tour players, including Christina Kim and Michelle McGann, keri golf's boldly-patterned products combine chic style with utility and function. Attractively priced, the extremely popular trend-setting line enables golfers of all abilities to look like professionals on the course.
The five-year-old company's bags and accessories, including totes and headcovers, are widely available at the finest pro shops and golf-specific retailers in North America and Europe, including world-renowned resorts and clubs like Doral, Trump National, Reynolds Plantation and The Breakers, as well as in Europe at Breuninger department stores, Woman On Sports and Golf Glam Ireland.
About Adams Golf
Developing high-performance and technologically innovative golf products is the cornerstone of Adams Golf. Founded in 1987 by Barney Adams, Adams Golf continues its commitment of helping golfers of all abilities enjoy the game of golf. Since 2006, the Idea Hybrid Irons have led all iron brands in sales at golf specialty retailers. Additionally, Adams Golf hybrids are played by more PGA, Champions and Nationwide Tour pros, than any other hybrid on the market. For more information about Adams Golf visit www.adamsgolf.com.
The Adams Golf logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=5031
This press release contains "forward-looking statements" made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. The statements include, but are not limited to statements using terminology such as "may," "will," "expect," "expects," "expected," "progress," "forward," "future," "intend," "estimate," "anticipate," "plan," "seek" or "believe," and "belief." Such statements reflect the current view of the Company with respect to future events and are subject to certain risks, uncertainties and assumptions related to certain factors including, without limitation, the following: the ability to maintain historical growth in revenue and profitability; the ability to generate sufficient revenue to cover our investments; retail inventory levels and their effect on future orders; the ability to generate shareholder value; product development difficulties; product approval and conformity to governing body regulations; assembly difficulties; competing product introductions; patent infringement risks; uncertainty of the ability to protect intellectual property rights; market demand and acceptance of products; the impact of changing economic conditions; the success of our marketing strategy; the success of our tour strategy; our dependence on a limited number of customers; business conditions in the golf industry; reliance on third parties, including suppliers; the actions of competitors, including pricing, advertising and product development risks concerning future technology; the management of sales channels and re-distribution; investor audience, interest or valuation; and events and other factors detailed under "Risk Factors" in our Securities and Exchange Commission filings. These filings can be obtained by visiting the corporate governance section of our website at www.adamsgolf.com or by contacting Adams Golf Investor Relations at InvestorInfo@adamsgolf.com.
Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Based upon changing conditions, should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein. Except as required by federal securities laws, Adams Golf undertakes no obligation to publicly update or revise any written or oral forward-looking statements, whether as a result of new information, future events, changed circumstances or any other reason after the date of this press release. All subsequent written and oral forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by the applicable cautionary statements.