"Scotts Valley, CA, June 25, 2009- Sessions, a recognized leader in snow
sports apparel since 1983, announced that it has sold its brand and
trademark rights to Sessions, LLC, a newly formed company, which will
continue to design, market and distribute action sports apparel under
the Sessions brand name. The Company is based in Scotts Valley, CA and
includes amongst its new shareholders, Samsung America, Inc., which
will assume logistical and financial duties.
Joel Gomez and Cindi
Busenhart, founder and president, respectively, of Sessions, will move
to the new entity and be responsible for all design, merchandising,
production, sales and marketing. The partnership will allow the Company
to take advantage of the Samsung’s strong financial support to secure
production and accounts receivable financing. Additionally, Sessions
will utilize Samsung’s warehousing and distribution facilities as well
as world class inventory systems. While details of the transaction were
not revealed, management stated that product quality and customer
service should not be affected. “Even in these difficult times, Cindi
and I felt strongly that, with the right business model and team, we
could capitalize on over 20 years of experience and brand equity” said
Joel Gomez in a statement. “Cindi and I have great confidence in the
viability of this brand. We have a strong and experienced team and with
Samsung as a partner, we now have the necessary capital to assure a
smooth transition and continued success.”
More about Sessions at
www.sessions.com"
Sounds like a good move to me. They continue to run the company how they want, but their support/financial/distribution teams are going to be significantly better.
