Prince Receives Good News From Q1 Specialty Retail Audit
May 3, 2007
Bordentown, NJ — The first three months of 2007 generated another very positive quarter for Prince according to the Q1 Sports Marketing Surveys/Tennis Industry Association Specialty Store Retail Audit. The year has started very strong thanks to the growing demand for the company’s revolutionary, patented O3 racquet technology. The O-tech platform, which revolutionized the game by transforming traditional string holes into giant O-ports, was enhanced in January of this year with the launch of the O3 Speedport line of racquets.
According to the audit, Prince O3 racquets (O3 White, O3 Speedport Red and O3 Speedport Silver) hold three of the top five Best Seller positions ranked by year-to-date dollar sales with the O3 White, continuing its hold as tennis’ #1 best selling racquet.
Perhaps equally as impressive, all three of the new O3 Speedport racquets (O3 Speedport Red, O3 Speedport Blue and O3 Speedport Silver) were among the top ten Best Sellers for the quarter. O3 racquets have helped to give Prince the largest percentage of dollar share (44.2%) of racquets ranked in the top ten. Of Prince’s 26.7 total share points, 22.1 points are from O3 technology.
“The O3 revolution has clearly been accepted by frequent players,” said Doug Fonte, President Prince Americas. “Players can see and understand the benefits O3 technology provides. It is not only visible but effective – proven on court at the highest levels of competition. We are very excited that the response to O3 has been so positive; and we are very anxious to share our newest O3 products with players around the world.”
In the Combined Head Size category, Prince O3 racquets hold half of the top 10 and seven of the top 15 Best Seller positions according to year-to-date dollar sales. The racquets include the O3 White (No. 3), O3 Speedport Red (No. 4), O3 Hybrid Hornet (No. 5), O3 Speedport Silver (No. 6), O3 Tour (No.10). Further, in the Hot New Racquets category, all three O3 Speedport racquets held positions in the top 10.
“We are very pleased with our Q1 results in the racquet category,” said Charlie Osborn, VP of U.S Sales for Prince. “These results show a number of very encouraging signs. Not only have three very different O3 Speedport frames seen solid results in the first three months since their launch, but Original O3 technology is still extremely strong as shown by the industry’s top selling racquet, the O3 White. In addition, sales of the O3 Hybrid Hornet show us that O3 technology can and does make an impact in the mid-price point range.”
To date, more than 100 touring pros, including world’s No. 2 Maria Sharapova, No. 3 Nikolay Davydenko, No. 7Jelena Jankovic and American up-and-comer Sam Querrey, play O3 racquets. O3 players have racked up more than 200 ATP and WTA tournament wins, including seven Grand Slam titles and almost every player who has picked up an O3racquet has improved his or her ranking since making the switch.
The data presented here is based on a retail audit of key pro/specialty and sporting goods stores conducted by Sports Marketing Surveys.