Industry Press Release

Descente Cycle Label Will Continue in Wake of Veltec Shuttering

07/26/2011

Layton, UT (July 25, 2011) — Descente North America, a wholly owned subsidiary of Osaka, Japan based Descente Ltd., today announced that they are planning for the continuation of the cycle brand in the North American market.

The license for Descente Cycle had been held by Carson City, NV based Veltec Sports since January 2008.  As the licensee, Veltec Sports retained the right to design, produce, sell and distribute cycle and triathlon apparel bearing the Descente logo.

Veltec Sports recently announced that they are ceasing US operations. 

Under the terms of the licensing agreement the rights to the Descente Cycle label return to Descente Ltd. should the licensee cease operating in the United States. 

Descente Ltd. and its subsidiary, Descente North America, are actively engaged in the formulation of a comprehensive plan for the continuation of the label in the short and long term.

“Having a presence in the North American cycle market has been a top priority for Descente,” said Nori Higuchi, president of Descente North America. “It is a market with significant potential for our brand and we are committed to investing the time and resources needed to navigate this change in operations.”  

Descente Cycle retailers can continue to contact Veltec Sports on business related matters through August 2011.  Beginning in September, retailers should contact the offices of Descente North America with any issues.

Information regarding the new Descente Cycle will be released in the coming weeks.

About Descente

Founded in 1935, Descente Ltd. is a global supplier of performance-based athletic apparel.  Headquartered in Osaka, Japan, Descente operates sales and distribution centers around the world.  The North American offices are located in Layton, Utah and Richmond, BC.