SANTA FE SPRINGS, Calif.–June 18, 1999–Vans, Inc. (Nasdaq: VANS) announced it has reached agreements to open additional skate parks in the San Francisco Bay area (Milpitas) and Bakersfield, California. The park in Bakersfield is scheduled to open in the next sixty days and Milpitas is scheduled to open within the next six months.
The Milpitas park, which is part of a major expansion to the two million square foot Great Mall of the Bay Area, and the Bakersfield park, which will be located in California’s Central Valley, will range in size from 40,000 to 50,000 square feet. Both parks are modeled after the VANS skate park at the Block in Orange County, California and will feature an expanded emphasis on street course skating.
“We are pleased to announce our plans to open additional skate parks in California. Both facilities will be in existing structures which significantly shortens the time required to get up and running,” said Gary H. Schoenfeld, Vans’ President and Chief Executive Officer. “These new parks, along with our existing 46,000 square foot skate park at the Block and the 60,000 square foot skate and BMX bike park under construction at the two million square foot Ontario Mills, give us a significant stronghold in the state providing unmatched facilities for skateboard, in-line skating and BMX enthusiasts.”
Mr. Schoenfeld added, “The Orange County park continues to outperform our expectations and has us very excited about these new facilities, along with the ones slated for next spring and summer in the Washington D.C. area and Orlando, Florida. We plan to strategically roll out more parks across the country and internationally as we believe this concept represents a superior brand building platform, as well as a significant additional source of sales and profits.”
Mr. Schoenfeld concluded, “Vans’ 33 year heritage lies at the heart of these Core Sports.(TM) In six months at our first location we’ve had over 75,000 participants from 44 states in the U.S. and four different continents around the world. Building more parks is a great way to further promote these sports and let kids enjoy something they love to do, while also creating value for our shareholders.”
Vans, Inc. is a leading lifestyle, retail and entertainment-based company. Vans reaches its 10 to 24 year-old target consumers through the sponsorship of Core Sports,(TM) such as skateboarding, snowboarding, surfing and wakeboarding, and through major entertainment events and venues, such as the VANS Triple Crown Series, the VANS Warped Tour, the VANS World Amateur Skateboarding Championships, and the world’s largest VANS Skate Park. The Company operates 112 retail stores and designs, markets and distributes active-casual footwear, clothing and accessories, performance footwear for enthusiast sports, snowboard boots, Switch(TM) step-in bindings, and outerwear worldwide. Vans’ internet address is www.vans.com.