Concha Regulatory News (CHA)

2 Feb 2006 07:01

Hot Tuna (International) plc02 February 2006 02 February 2006 Hot Tuna (International) Plc ("Hot Tuna" or "the Company") Hot Tuna Launches its first Concept Shop in the Worlds Largest Surf Complex at Cocoa Beach Florida, USA Following the acquisition of the US Licence in November 2005, Hot Tuna(International) Plc (AIM:HTT) is set to open its first Hot Tuna store in storeprogramme, within the worlds largest surf complex, The Cocoa Beach Surf Shop ("the Complex") at the end of February 2006. Hot Tuna will be one of several surfbrands to have its own concept store within the Complex, occupying approximately1,000 square feet. The Complex will be approximately 270,000 square feet which will include 33,000square feet of retail space. It will contain a Four Points Sheraton Hotel with70 surf themed rooms, a bar and restaurant, Starbucks Coffee shop, a Surf TravelAgent, a Surf School and a Shark tank in the middle of the store with a dailyshark feeding session for customers. Throughout February the retail side of theComplex will begin trading, however the grand opening of the Complex isscheduled for May 2006, The Complex, privately owned and operated by Bob Baugher, the previous ManagingDirector of Ron Jons, the world's largest surf shop, is located directlyopposite Ron Jons in Cocoa Beach, Florida. For over twenty years Bob was thedriving force behind the expansion of Ron Jons and growing the shop into 51,000square feet with an annual turnover of USD$35 million. On Hot Tuna's arrival at the Complex, Bob Baugher stated, "The Hot Tuna conceptshop design looks extremely exciting. The Spring/Summer ranges look fantasticand Hot Tuna has created a real buzz on the East Coast with its marketingcampaign over the past year. I have great expectations for the success of HotTuna and potential sales per sq ft. within my complex." Hot Tuna has also agreed to become the clothing sponsor of the surf school atthe complex. Lessons will be available from beginner to expert levels where allparticipants will be wearing Hot Tuna branded rash vests or wetsuits on thebeaches of Florida which are some of the most heavily visited beaches in theUnited States. Commenting on the Concept store, Hot Tuna Managing Director, Marcus Gracey,said: "The USA is a key market for Hot Tuna and we look forward to working withan industry expert like Bob Baugher in developing and expanding the Hot Tunabrand for men and juniors. " Ranjit Murugason, Chairman, stated: "We look forward to the landmark openingnext month of the first Hot Tuna concept store in Cocoa Beach Florida. It willgive the Company a direct interest in the US retail market and is in line withour stated strategy to develop Hot Tuna as a more dynamic business model withinthe United States. We look forward to participating in the rapidly growing USsurf lifestyle market and believe that our joint venture interest will generatereturns in addition to the royalty revenue from the original licence agreement." - Ends - For further information, please contact: Hot Tuna International PlcRanjit Murugason, Chairman+44 20 7016 5100ranjit@hottuna.com.au Marcus Gracey, Managing Director Parkgreen CommunicationsJustine Howarth / Victoria Thomas+44 20 7493 3713justine.howarth@parkgreenmedia.com Nabarro WellsHugh Oram+44 20 7710 7400 WH IrelandPaul Dudley+44 20 7220 0471paul.dudley@wh-ireland.co.uk This information is provided by RNS The company news service from the London Stock Exchange