(1888PressRelease)
June 23, 2009 - BROOKLYN, NY – Man Alive Acquisitions, LLC (“Man Alive”), a privately held company controlled by Jimmy Khezrie, Founder and President of Jimmy Jazz clothing and shoe stores based in Brooklyn, NY, has entered into a definitive agreement with The Finish Line, Inc. (Nasdaq: FINL) (“Finish Line”), one of the largest mall-based specialty retailers, to acquire all 75 Man Alive and Decibel stores.
The acquisition is anticipated to close this upcoming July and has been approved by Finish Line’s Board of Directors.
“For us, the addition of Man Alive and Decibel accelerates our growth initiatives in the urban market sector faster than we could attain through organic growth alone”, stated Jimmy Khezrie. “There are immense economies of scale and synergies that come with this acquisition, which will increase our market share, increase productivity and decrease expenses, and most importantly, provide the consumer with the best and latest in urban fashion”, Khezrie concluded.
Under the terms of the definitive agreement, Main Alive Acquisitions, LLC, will assume certain assets and liabilities of Man Alive (as specified in the purchase agreement), including the 75 retail stores (under both the Man Alive and Decibel names), the leasehold interests and lease liabilities of Man Alive, as well as intellectual property, including the Man Alive and Decibel trademarks and trade names.
About Man Alive
Man Alive is one of the nation’s leading streetwear fashion retailers for men and women. They company is known for delivering cutting edge, designer brand name style into each of its 75 stores in 19 states under the name brands Man Alive and Decibel and online at www.ManAlive.com.
About Jimmy Jazz
Based in Brooklyn, New York, Jimmy Jazz stores is the leading urban specialty retailer for clothing and shoes in the eastern United States for over 20 years. Jimmy Jazz has over 80 stores on major streets and mall in the eastern United States, which includes over 30 in the New York Metro area. They offer uniquely inspired original urban fashion, accessories and shoes with high energy and style.
Stores feature premier lifestyle brands including Ed Hardy, Rocawear, Timberland, Akademiks, Baby Phat, Coogi, Adidas Originals, Creative Recreation and Nike, to name a few. They receive merchandise daily from vendors who are creating the hottest styles and colors, providing an ever-changing showcase of the newest fashion available for men, women, and kids.
Recently, the company launched a world class website and store, www.JimmyJazz.com. Just like the exceptional retail stores, JimmyJazz.com strives to bring the latest in-demand brands to our shoppers online at JimmyJazz.com. In addition to easy and convenient shopping, JimmyJazz.com is updated on a daily bases with the most current urban lifestyle content available, making our web store an all-in-one destination for shopping and entertainment.
For more information and further details, please visit the Jimmy Jazz website at www.JimmyJazz.com.
About Finish Line, Inc.
The Finish Line, Inc. is one of the largest mall-based specialty retailers currently operating under the Finish Line and Man Alive brand names. The Finish Line, Inc. is publicly traded on the NASDAQ Global Select market under the symbol FINL. FINL operates 685 Finish Line stores in 47 states and online.
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