Action Performance Announces Grand Opening of Speedmall
1 February 1999
Action Performance Announces Grand Opening of Speedmall; Motorsports' First Virtual Online Shopping Mall
PHOENIX--Feb. 1, 1999--Action Performance Companies Inc., (Nasdaq NM:ACTN) Monday announced the Grand Opening of SpeedMall, the world's first motorsports-related virtual online shopping mall. At 12 pm EST, SpeedMall can be accessed through Action's recently acquired www.goracing.com Web site. SpeedMall represents the company's bold entry into the rapidly growing electronic commerce arena.
SpeedMall is designed to simulate the experience of a real-world shopping mall, allowing visitors to move between concourses and simultaneously view a variety of storefronts, advertising banners and links to other companies' sites. Visitors can "go inside" a store and then return to SpeedMall again for further shopping and entertainment experiences.
Action Performance and members of the Action family are the mall's anchor tenants. Action's stores allow visitors to view products and make online purchases of collectible die-cast cars, apparel, and other licensed motorsports merchandise. A virtual concierge is available to assist visitors and direct them to their favorite store locations.
With major tenants and sponsors including The Coca-Cola Company, Big Daddy's BBQ Racing Co., Dura-Lube Corp., Bass Pro Shops and Performance Dynamics, LLC, SpeedMall visitors are able to enjoy a wide variety of entertainment and service options similar to those found in a real-world shopping mall.
For example, Global Resources Group Inc., a mall tenant offering telecommunications products and services, has developed an "Instant Win" sweepstakes program to enhance the overall entertainment experience.
Additionally, through an alliance with Beckett Publications, collectors are able to auction or trade items over the Internet. The popular Fantasy Cup Auto Racing `99 game offers opportunities to win more than $400,000 in cash and prizes, and NASCAR Silicon Motor Speedway features state-of-the-art stock car simulators.
Travel services and tours to major race events can be planned through Lynch Tours & More. Original and limited edition race-related artwork can be purchased at the Artworks online art gallery.
Computer and e-commerce software products can be downloaded from a Digital River store, race-related publications from UMI Publications Inc. are available, the MiraChem Corp. offers cutting-edge, biodegradable automotive cleaning products, and a variety of sports memorabilia can be purchased from Sports Memories Racing Inc.
Said Fred Wagenhals, Action chairman, president and chief executive officer, "SpeedMall is an unprecedented method of bringing advertisers, merchandisers and consumers together for an experience that is beneficial and exciting to all.
"E-commerce is the wave of the future and Action's vision for SpeedMall is to enhance the motorsports industry, and continually grow and succeed in conjunction with the rising popularity of auto racing."
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 goracing.com, trackside at racing events, mass retail department stores, and a worldwide network of wholesale distributors and specialty dealers.
Note to Editors: 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.