Flow Sports and Pryde Announce Distribution Agreement
San Clemente, California – April 15, 2016: Flow Sports, Inc. today announced that it has signed a long-term Distribution Agreement with Pryde Group Americas to distribute its brands Flow Snowboarding and SIC Maui in the North America, Canada, Mexico, South and Central America as well as the Caribbean "the Americas".
Flow Sports, Inc. and Pryde Group Americas are related parties. They are both owned by the same parent company Shriro Pacific Limited. This move comes as the group seeks to reorganize and consolidate its various branded and distribution entities into functional silos of excellence. Flow Sports will now be exclusively focused on brand development, global sales and marketing for the group and specifically Flow and SIC. Pryde Group Americas remains dedicated to sales and distribution, bringing value creation to expand the reach of both Flow and SIC within the Americas. This move will help both operating divisions to realize greater cost efficiencies, so that the company can deploy its capital on new product innovation and consumer marketing.
"We needed to take a proactive approach to reorganize and streamline our business units in order to capitalize on our group's inherent strengths, cost and operational efficiencies. We will now be better structured so that we can maintain profitability and longevity in todays challenging economy. Most importantly is that we continue to be a valued and reliable partner for our retailers and continue to produce the best products for our end users for many years to come", said Anthony Scaturro, President and CEO of Flow Sports.
“Pryde Group Americas has been representing the industry's leading brands for over 25 years. Incorporating Flow Snowboarding and SIC Maui into our portfolio of brands makes perfect sense for our group and will offer additional convenience and value for many of the dealers in our network. From a water sports perspective, adding a strong, performance brand like SIC Maui to our current SUP board offering of JP Australia and Imagine Surf, allows us to serve as a "one stop shop" for partners in the SUP business. Add NP Surf wear and accessories to the equation, and we genuinely become a very smart choice. Logistically, our ability to consolidate multiple brands and products into shipments will allow us to very efficiently service customers. Having access to our other leading brands like Cabrinha kitesurfing, and Neilpryde windsurfing will also be interesting for many in the network." – Kent Marinkovic, President of Pryde Group Americas.
Pryde Group Americas will officially assume its distribution duties for Flow and SIC as of May 1, 2016 and all orders delivered after this date will be fulfilled accordingly. The sales team led by Kevin Addy, Director of Sales for Flow Sports will transition over to Pryde Group Americas on May 1 and retailers should expect continuity in service, delivery and exceptional after sales support.
About Flow Sports, Inc.: Flow Sports is an innovative branding and global distribution company specializing in action- sports equipment and consumer goods. Flow Snowboarding is best known as the creator of the "Speed Entry" snowboarding binding and over its 20 years in the snow market, Flow has risen the ranks and is globally within the top three snowboard binding brands and is within the top five brands inclusive of boards, boots and bindings. The Company also owns SIC Maui, a stand up paddle boarding brand. In 2015 SIC won the prestigious AWSI/SUP Connects "SUP Brand of The Year" award in 2015 after only 2.5 years in the market. SIC is a best-in-class brand paddled by the most elite paddlers in the world or for recreational paddlers looking for quality products and five star performance.
Pryde Group Americas: Pryde Group Americas is the leading distributor of high-end, wind and wave sports equipment in North and South America. Initially set up by Neil Pryde Ltd. in Miami, Florida in 1993 to develop the markets in North and South America, the company today excels as the distributor for all Pryde Group products in these regions. The brand portfolio currently includes: Cabrinha Kitesurfing, Imagine Surf, NP Surf, JP Australia, and Neilpryde windsurfing.