Exhibit 10.1


September 24, 2001

Mr. Michael Umana
Chief Financial Officer
Saucony, Inc.
13 Centennial Drive
Peabody, MA 01960

Re:      Amendment to Revolving Credit Agreement dated August 31, 1998 by and
         between State Street Bank and Trust Company, a Massachusetts trust
         company, as lender and Saucony, Inc. ("Saucony"), as borrower (the
         "Credit Agreement").

Dear Michael:

     This letter is to confirm that the Termination  Date (as defined in Section
1.1 of the Credit Agreement) shall be extended until October 31, 2001.

     Saucony  agrees that the Credit  Agreement  and all  documents  executed in
connection  therewith or pursuant  thereto remain in full force and effect after
giving effect to this letter amendment to Credit Agreement.

     Please  confirm that the  foregoing  correctly  sets forth our agreement by
signing and  returning  the  duplicate  copy of this letter  agreement  enclosed
herewith.

                            Very truly yours,

                            STATE STREET BANK AND TRUST COMPANY


                            By: /s/ Jacqueline Kuss
                            Name: Jacqueline Kuss
                            Title: Vice President


BORROWER:

SAUCONY, INC.

By: /s/ Michael Umana
Name:  Michael Umana
Title:  Chief Financial Officer