August 27, 2008 // Franchising.com // Atlanta -- The Athlete's Foot (TAF), a world leader in athletic footwear franchising, and its parent company NexCen Brands, Inc. (NASDAQ: NEXC) announced the opening of a new location in Guam last month. The store is a development of Joeten Enterprises, Inc., master franchisee of TAF Saipan since 1988. Joeten Enterprises, who owns franchising rights to Guam under their agreement, opened their first TAF in Saipan in 1989.
The new store, which opened its doors for business on July 16, 2008, is located in the Star Building Shopping Center on Marine Corp Drive, Tamuning. Under the re-branding initiatives instituted by NexCen Franchise Management Inc., a subsidiary of NexCen Brands, the Guam location will operate as a performance store and showcase the latest store design, layout and merchandising systems.
The new location represents growing opportunities in the Northern Pacific region and a steady expansion of the TAF franchise internationally. Expansion efforts are supported by NexCen's international development and retail operations teams.
"With a $12 billion project to restructure and revitalize Guam in the coming years, funded by the U.S. and Japanese governments, we are confident this is a good time to invest in the market," says Dennis Yoshimoto, chief operating officer, Joeten Enterprises.
"The Guam opening is in line with the international growth and development plans NexCen has for TAF," said Martin Amschler, executive vice president, international development, NexCen Franchise Management." Joeten Enterprises, has exhibited exceptional success in Saipan, and we are confident that they will continue to do so as they expand into new markets."
TAF (www.theathletesfoot.com) The Athlete's Foot (TAF) is the world's first franchisor of athletic footwear stores and is recognized today as the world leader in athletic footwear franchising. Robert and David Lando opened the first The Athlete's Foot store in 1971 in Pittsburgh, Pennsylvania. It was the first athletic footwear specialty store of its kind in the United States. Soon thereafter, The Athlete's Foot began franchising domestically, with the first store opening in Oshkosh, Wisconsin. The first international franchise store opened in 1978 in Adelaide, Australia. The Company is now in more than 40 countries.
In June, 2007, NexCen Brands launched a global re-branding effort for TAF. With a mission on meeting the needs of athletes everyday, there are plans for reinvigorating the 37 year-old brand to include an innovative new modular merchandising system, new in-store design, a modernized company logo, and a line of TAF branded apparel.
NexCen Brands, Inc. (www.nexcenbrands.com) is a vertically integrated global brand management company focused on assembling a diversified portfolio of intellectual property-centric companies operating in the consumer branded products and franchise industries. The Company owns, licenses, franchises and markets a growing portfolio of consumer and franchise brands including The Athlete's Foot(R), Bill Blass(R), Great American Cookies(R), MaggieMoo's(R), Marble Slab Creamery(R), Pretzel Time(R), Pretzelmaker(R), Shoebox New YorkTM and Waverly(R).
The Company licenses and franchises its brands to a network of leading retailers, manufacturers and franchisees that includes every major segment of retail distribution from the luxury market to the mass market in the U.S. and in over 50 countries around the world, and consists of approximately 1,900 franchised stores. NexCen, through its information technology, franchisee support systems and advertising, marketing and public relations team, markets its brands to continually drive greater consumer awareness and brand equity for each of its brands. NexCen touches nearly every aspect of a consumer's lifestyle from the food they eat to the furnishings in their homes and the clothes and footwear they purchase.