Category: Racquets & Strings - Company: Prince Tennis |
Survey Shows Industry-Leading Innovation Sends Sales Soaring
Prince O3 Silver Ranked as No. 1 Hot New Racquet of 2005
FOR IMMEDIATE RELEASE
Contact: Zach Perles
One Advantage Court
Bordentown,
609-291-5932
zperles@princesports.com
11/03/05 - With the introduction of O3 technology earlier this year, Prince Tennis single-handedly revolutionized the game of tennis. The third quarter Specialty Store Retail Audit report for racquet sales from TIA/Sports Marketing Surveys suggests that consumers across the country support Prince’s efforts and the new revolutionary technology.
In the TIA/SMS report, Prince has seen a significant increase in dollar share for year-to-date racquet sales for 2005. The O3 Silver ranks as the No. 1 “hot new racquet” by year-to-date dollar share. Following directly on its heels in the No. 2 spot is the O3 Red. The O3 Tour and O3 Blue landed the No. 6 and No. 10 spots, respectively, bringing Prince’s tally of “hot” rackets in the top 10 to four.
Additionally, the industry report ranks Prince’s O3 Silver and O3 Red as the No. 2 and No. 3 best-selling racquets overall in the pro/specialty market in terms of year-to-date dollars through the third quarter.
“The positive market momentum we’ve experienced since the launch of O3 engineering has been overwhelming” said Doug Fonte, President, Prince USA. “Recent numbers reflect that we’re developing a strong fan base for our game-improvement tools and technologies.”
Prince O3 racquets account for almost 9 percent of the total market share of year-to-date racquet sales, according to the TIA/SMS report. And, in the premium racquet segment (racquets retailing for over $200), Prince is the No. 1 brand, with a 42 percent share.
Prince’s own sales figures show performance racquet sales are up 141 percent over last year and in terms of overall growth, the company has witnessed a 25 percent increase in sales.
The sales figures presented herein reflect the results of the 3rd quarter and year-to-date sell-through on tennis racquet sales. The data is based on a retail audit of key pro/specialty and sporting goods stores conducted by Sports Marketing Surveys.
About Prince Sports
Prince Sports, Inc., based in New Jersey, is a recognized leader in game-improvement technologies and engineering-based high-performance sports equipment. Since 1970, Prince and Ektelon have revolutionized tennis, squash and racquetball with innovations including “Oversize,” “Longbody” and “Extender” racquet technologies, Natural Foot Shape footwear technology, Synthetic Gut String and Electronic Ball Machines. In 2005, Prince introduced O3, another breakthrough that features an expanded sweet spot (up to 54 percent) and increased racquet speed, a combination only possible with O3 technology. Prince Sports has operations on three continents and distribution in over 100 countries. For more information, please visit www.princetennis.com.
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