iFabric renews licence agreement with Tumi

Executive Summary

• iFabric Corp.'s subsidiary, Intelligent Fabric Technologies (North America) Inc. (IFTNA), has renewed its license agreement with Tumi Inc. for a further five-year period, continuing the integration of IFTNA's Protx2 anti-microbial technology into Tumi products.
• The original partnership was announced on May 5, 2021; this renewal extends that relationship through the new five-year term.
• Protx2 technology will continue to be featured in specific Tumi product lines, including the 19 Degree polycarbonate carry-on, Alpha Bravo, Alpha, Arrive', and McLaren collections.

Key Details

• Parties Involved: iFabric Corp. (via subsidiary IFTNA) and Tumi Inc.
• Agreement Type: Renewal of License Agreement.
• Duration: Five-year extension from the date of the original announcement (May 5, 2021).
• Technology: Protx2® anti-microbial solutions.
• Product Integration:
  • Linings for Tumi's 19 Degree polycarbonate carry-on and related pieces.
  • Linings and select body fabrics for travel kits, toiletry kits, laundry bags, and key accessories.
  • Specific collections included: Alpha Bravo, Alpha, Arrive', and McLaren.
• Strategic Rationale: Both companies cite shared commitments to performance, durability, protection, and eco-friendly solutions.

Notable Quotes

• Giancarlo Beevis, President and CEO of IFTNA: "We're excited to extend our partnership with Tumi, one of the world's premier performance-luxury travel brands... Seeing Protx2 featured in such a globally respected portfolio underscores our shared commitment to performance, durability and everyday protection for travellers."
• Todd Barenberg, Senior Vice-President, Global Sourcing at Tumi: "Tumi looks forward to our continued partnership with IFTNA through the utilization of their Protx2 eco-friendly anti-microbial solutions. As leaders in the industry, we're committed to delivering best-in-class protection to our consumers."