POW Gloves and Spacecraft Collective enter int letter of intent

January 30th, 2013 by

POW_SpacecraftCollective

Danielson, recently appointed CEO of POW INC., commented, “We are extremely excited to unite the assets and energy of POW and Spacecraft. With both companies being Pacific Northwest based, having very similar heritage, strong brand strength and complementary products, the ability to bring them together should create significant opportunities for growth and profitability.”

POW Gloves, celebrating its 10 Year anniversary is energized to continue that momentum into its second decade of manufacturing “Built to Last” handwear. The merger of these two companies supports POW’s growth strategy to build both organically and through acquisition where economies of scale offer solid opportunity for increased revenue, profit, and return on shareholder investment.

POW Gloves President and Founder, Dustin Goss said, “It has been a privilege to grow up alongside brands like Spacecraft. I’ve known both Sarah and Stefan for years and have admired their ability to grow the Spacecraft brand with intensity and creativity not limited to the snow sports industry.”

Spacecraft Collective, also celebrating a decade in business, started as an art project culminated from midnight photography missions, Bali surf trips, and one iconic photo of the infamous Alpental snowcat. Spacecraft evolved into an established artist-collective with a focus on making unique headwear and innovative accessories.

“I am extremely excited to be working with Greg and Dustin and the amazing team they have put together at POW”, stated Sarah Parker, President and Co-Founder of Spacecraft. “This merger will allow Spacecraft to further its mission to bring creative and interesting products to customers by combing our resources for distribution, sales and customer service.”

The collaboration of these two grass root breakout brands will illuminate the Pacific North West already strong reputation for high functionality and top quality winter sport products.

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