Action Performance Announces Coca-Cola as a Title Sponsor in SpeedMall
29 January 1999
Action Performance Announces Coca-Cola as a Title Sponsor in SpeedMall
PHOENIX--Jan. 28, 1999--Action Performance Companies Inc. Thursday announced that Coca-Cola will be a title sponsor in SpeedMall, the world's first motorsports-related virtual online shopping mall.
Scheduled for a grand opening on Feb. 1, SpeedMall is located through Action's www.goracing.com Web site, the most comprehensive source for motorsports news, entertainment and shopping on the World Wide Web.
Coca-Cola will sponsor SpeedMall's virtual theater, where visitors can view multimedia news announcements and a variety of entertainment events such as race footage and broadcasts of interviews with some of the world's most popular drivers from among more than 30 American and international race series. The Coca-Cola racing logos will be prominently displayed in key locations throughout the mall.
Said Fred Wagenhals, Action chairman, president and chief executive officer, "With the development of SpeedMall and relationships with prominent corporate partners like The Coca-Cola Company, Action is positioned to emerge as the premier source for innovative marketing, promotion, product sales and distribution strategies across all motorsports categories. We are proud to have Coke as a title sponsor."
Said Steve Koonin, vice president, marketing asset management, The Coca-Cola Company, "Action's SpeedMall provides a unique forum for combining product sales, strategic marketing and high-tech advancements to achieve the maximum potential from e-commerce initiatives. Our relationship with Action Performance and SpeedMall will be an exciting venture with creative new marketing opportunities, expanding Coca-Cola's extensive commitment to motorsports."
Action's recent acquisition of Tech 2000 Worldwide Inc. expanded the company's creative and technical abilities to launch online storefronts in SpeedMall for all of Action's operating divisions. It also provided the resources to develop storefronts, advertising banners and online sales and marketing programs for many of the mall's other tenants.
Said Wagenhals, "The development of SpeedMall provides Action with another consumer-direct distribution channel and also enables us to expand our relationships with our corporate partners."
Action Performance Companies Inc., is the leader in the design, marketing, and distribution of licensed motorsports merchandise. Its products include a broad range of motorsports-related die-cast car replica collectibles, apparel, souvenirs, and other memorabilia.
The company markets and distributes products through a variety of channels, including the 156,000-member Racing Collectables Club of America (RCCA), online through SpeedMall at www.goracing.com, trackside at racing events, mass retail department stores, and a worldwide network of wholesale distributors and specialty dealers.
This press release contains forward-looking statements. The company's actual results could differ materially from those set forth in the forward-looking statements.
Factors that might cause such a difference include, among others, competitive pressures, the company's ability to successfully implement e-commerce initiatives, constantly changing technology, acceptance of Action's products and services in the marketplace and other risks detailed in the company's Securities and Exchange Commission filings, including the company's Form 10-K/A dated Sept. 30, 1998.
