CONGRATS!

Sole Technology Brand Teams

A year ago, Mike Regan became the etnies Brand/Business-Director, providing strategic direction and day to day leadership for our largest Brand. With the progress that we have seen with etnies, it was believed that the other Brands would benefit from a similar structure. The plan was to establish a similar role for the combined brands of eS, emerica and altamont and move 32 under Mike Regan, with etnies.

From the time the decision to post the position of Business/Brand Director-eS, emerica and altamont was made, our business, like the US economy has continued to erode. While I firmly believe in the mid to long term benefits of this position, in order to focus all Company efforts against our top three priorities (etnies, Sole Technology-Europe and apparel), the search for this position has been suspended for a minimum of 6-9 months.

In the interim, our focus must be on revenue growth and profit optimization.

With regard to eS, emerica and altamont, new processes/procedures will be implemented to ensure that these important Brands are positioned and tracking towards future growth.

With regard to 32, given all of the natural synergy with etnies, Mike Regan will assume responsibility for the strategic leadership and business direction for the Brand and the leadership of the team, effective immediately.

We are going through some very challenging times, times that cause us to think and act with a short term orientation. We need to stabilize our business and continue to focus on our priorities to ensure a better future.

Any questions, let me know.

Paul