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LIVE NATION ENTERS ARTIST MERCHANDISING
ARENA WITH THE ACQUISITION OF MAJORITY STAKE IN AUTHENTIC
LIFESTYLE COMPANY TRUNK LTD
LOS ANGELES, CALIFORNIA –
Immediate Release– Live Nation (NYSE: LYV), a leading
live event, venue and digital distribution company, today
announced it has acquired a majority stake in TRUNK LTD, a
company renowned for its line of authentic lifestyle merchandise.
TRUNK LTD has more than 60 exclusive licenses with many of
the largest music superstars in the world, including AC/DC,
Aerosmith, The Beatles, Blondie, Jimi Hendrix, Pink Floyd,
The Grateful Dead, The Doors, The Rolling Stones, Motley Crue
and David Bowie. TRUNK LTD’s products are available
at 600 specialty stores and boutiques around the world. The
acquisition represents the entrance of Live Nation into the
artist-merchandising arena.
Founded in 2003 and led by Chief Executive Officer and Creative
Director Brad Beckerman, TRUNK LTD has become one of the most
recognized and well-respected music inspired brands by artists
and consumers alike. Mr. Beckerman will continue leading TRUNK
LTD on an aggressive growth strategy, while utilizing Live
Nation’s resources to expand its distribution beyond
traditional retail outlets into Live Nation venues by creating
Limited Edition products only available on tour.
“We produce more than 29,500
Live Nation shows per year around the world. Artist merchandise
is a natural business to enter as we look to move into adjacent
business lines that complement our core concert and venue
business,” said Live Nation Chief Executive Officer
Michael Rapino. “TRUNK is unique because they have distinguished
themselves with incomparable design and quality.”
“Live Nation and TRUNK LTD
share the same core consumer. Our partnership gives both of
our companies the ability to enhance each other’s brand,”
said Mr. Beckerman. “Music is the language of emotion;
together Live Nation and TRUNK LTD will further enhance the
emotional connection between the artist and fan by extending
the live experience beyond the show.”
In addition, Mr. Beckerman has been
named President and Chief Creative Officer of Merchandising
at Live Nation, where he will join the executive team to develop
merchandise, venue retailing and branding strategies.
Prior to founding TRUNK LTD, Mr. Beckerman served as President
and Chief Executive Officer of Groove Track Productions, an
entertainment and brand development company that created specialized
merchandising programs for Fortune 500 companies and global
fashion brands, as well as consumer product companies. Previously,
he was General Manager of STARTER Corporation, a $500 million
licensed sportswear company. Mr. Beckerman is a graduate of
the University of Florida.
About Live Nation
Live Nation is a leading live event, venue and digital distribution
company focused on creating superior experiences for artists,
performers, corporations and fans. Live Nation owns, operates
and/or has booking rights for 153 venues worldwide and produced
more than 29,500 events in 2005. Headquartered in Los Angeles,
California, Live Nation is listed on the New York Stock Exchange,
trading under the symbol “LYV.” For more information
regarding Live Nation and its businesses, please visit the
company’s website at www.livenation.com.
About TRUNK LTD
TRUNK LTD is well known for authentic luxury goods, which
capture “A Moment In Time.” TRUNK LTD has more
than 60 exclusive licenses with many of the largest music
superstars in the world and Harley-Davidson Motor Company.
TRUNK LTD’s products are available in over 600 specialty
stores and boutiques around the world. Led by founder and
Chief Executive Officer Brad Beckerman, TRUNK LTD connects
to consumers’ souls through its products, which feature
close attention to detail, including the highest quality fabrics,
customized hangtags and labels and TRUNK LTD’s unique
patented double side seam stitch. For more information, please
visit
www.TRUNKLTD.com
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