RAPALA VMC CORPORATION’S COMPREHENSIVE RELEASE OF OKUMA’S REELS, RODS AND FISHING SETS IN EUROPE AND RUSSIA IN 2022 WILL SUPPORT A HUGE MARKETING CAMPAIGN
On January 27, 2021, Rapala VMC Corporation (“Rapala VMC”) announced the acquisition of Okuma’s European and Russian trademarks and related intangible rights. Rapala VMC is proud to announce that sales of Okuma rods, reels and fishing sets in Europe and Russia will begin on January 1, 2022.
Svendsen Sport A / S (“Svendsen”) and Okuma Fishing Tackle Co Ltd (“Okuma”) have recently reached an agreement on Okuma’s long-term and exclusive distribution agreement with Svendsen, which covered Denmark, Norway, Sweden, Iceland, the United Kingdom, Ireland, France, Germany, Belgium, the Netherlands, Luxembourg, Austria, the Czech Republic, Hungary, Poland and Russia (the “Svendsen Region”) expire on 31 December 2021, and Svendsen’s right to receive pre-orders expires on 15 September 2021. , Rapala VMC has agreed to purchase stocks of Svendsen’s Okuma rods, reels and fishing sets at the end of the year when the exclusive distribution agreement expires.
Okuma’s product line is very well suited to European and Russian fishing styles, and Okuma will become the flagship brand of Rapala VMC’s European free and reel product portfolio. Together with 13 other Fishing and Rapala VMC brands, Rapala VMC’s product portfolio will become a winning player in the region. Rapala VMC will invest significantly in marketing Okuma’s brand and growth – Okuma’s customers and consumers will be at the forefront of this marketing. Utilizing both Okuma’s and Rapala VMC’s strong network of marketers, ambassadors and brand lawyers, the joy of fishing at Okum will be conveyed to every European and Russian market. Rapala VMC will implement a renewed and consistent presence in chain stores, raising the modern Okuma brand to the level of prestige it deserves. The new digital marketing strategy will shape Okuma’s social media and websites to bring more value to Okuma fans, as well as help new fishermen develop their fishing skills. European consumers will see Team Okuma’s massive entry into the ever-growing field of online fishing tournaments – as well as lots of fish and trophies caught with Okuma tools! Okuma will be everywhere.
“We have been planning the launch of Okuma in 2022 across Europe and Russia for several months now. The agreement to end the distribution collaboration between Svendsen and Okuma was the last piece of the puzzle. Rapala VMC’s sales teams will soon be in touch with European customers outside the Svendsen area, and pre-sales to customers in the Svendsen area will begin after mid-September. We have all the support behind the Okuma factories behind us, and we couldn’t be more excited. Charles Chang and his team have done an excellent job building the Okuma brand and product portfolio in Europe, and now we get to take it to a new level. Our new product development center for rods and reels in Taichung, Taiwan, led by Enrico Ravenn, has worked diligently with Charles Chang’s product development team to make the scaled Okuma free and fishing set line larger. We see great growth opportunities for Okuma and its reels, rods and fishing tackles all over Europe, ”says Nicolas Warchalowski, President and CEO of Rapala VMC Oyj.
“I am very pleased that we reached an agreement and signed an agreement that will enable the launch of the Okala brand of Rapala VMC in Europe and Russia in 2022. We are already able to see the benefits of cooperating with Rapala VMC. The collaboration is made even easier by the fact that both Okuma’s head office and Rapala VMC’s main sourcing office are conveniently located in Taichung, Taiwan. Where Okuma excels in product innovation and manufacturing, Rapala VMC excels in brand building, marketing, operations and customer service. By joining Rapala VMC in Europe and Russia, Okuma can focus on its core strengths: innovation and production. The Europe-wide launch of the Okuma brand will make Okuma stronger and better known to customers around the world, ”says Charles Chang, Okuma Fishing Tackle Co. Ltd. Chairman and Founder.
RAPALA VMC CORPORATION
Nicolas Warchalowski Managing Director
For more information, please contact:
Nicolas Warchalowski, President and CEO, +358 9 7562 540
Olli Aho, Investor Relations, +358 9 7562 540