Vision, Passion, Diversification and Growth are at the heart of GIII
Press Release Details
NFL Teams With BET Design Studio to Produce Urban Lifestyle Black Entertainment Television -BET- Sports Collection
NEW YORK -- August 10, 1999--Young trend-setting NFL fans will have a new urban-inspiredmerchandise line of their own this season as the NFL and BET Design Studio, LLC (a joint venture owned by G-III ApparelGroup, Ltd. (Nasdaq: GIII) and Black Entertainment Television, Inc. "BET") team up for the BET Sports Collection.
The BET Sports Collection will be in stores for the Holiday season and will feature knit tops, velour sweat-suits, fashion jerseys, outerwear, t-shirts and polar fleece.Merchandise will appear in department stores in NFL markets. A total of 150 stores will carry the merchandise for the initial launch.
The new launch brings together G-III, one of the NFL's most successful licensees, BET, the leading urban entertainment network, and BET Design Studio. BETDesign Studio currently produces and distributes urban sportswear collections under the labels EXSTO XXIV VII and EXSTO Black Rivet Uniform Denim.
"We continue to find new ways to broaden the sports license category with innovative and fashionable merchandise that meets young fans' affinity for entertainmentand sports," said Chuck Zona, Senior Vice President of Consumer Products for NFL Properties. "G-III and BET through their BET Design Studio, will provide uswith the link to these trend-setters."
"We are very excited to launch this new urban inspired sports collection with the NFL," said Morris Goldfarb, Chief Executive Officer of G-III and President ofBET Design Studio. "This is an excellent way for us to capitalize on the strong growth of urban apparel today."
BET is owned by BET Holdings Inc., a multi-media entertainment company. BET is the first and only national cable network targeted primarily towards AfricanAmericans and currently reaches 57.8 million US cable households nationwide and 13 countries worldwide.
G-III Apparel Group is a leading manufacturer and distributor of leather and non-leather outerwear apparel. The Company has fashion licenses with Kenneth ColeProductions, Nine West Group, Tommy Hilfiger and Caterpillar as well as sports licensing agreements with the NFL, National Hockey League, National BasketballAssociation and more than 20 universities nationwide.
Statements concerning the Company's business outlook for future economic performance; anticipated revenues, expenses or other financial items; productintroductions and plans and objectives related thereto; and statements concerning assumptions made or expectations as to any future events, conditions, performanceor other matters, are "forward-looking statements" as that term is defined under the Federal Securities laws. Forward-looking statements are subject to risks,uncertainties and other factors which could cause actual results to differ materially from those stated in such statements. Such risks, uncertainties and factors include,but are not limited to, reliance on foreign manufacturers, the nature of the apparel industry, including changing customer demand and tastes, seasonality, customeracceptance of new products, the impact of competitive products and pricing, dependence on existing management, general economic conditions, as well as otherrisks detailed in the Company's filings with the Securities and Exchange Commission.
CONTACT: G-III Apparel Group Ltd. Wayne Miller Chief Financial Officer 212-403-0500 or NFL Brian McCarthy 212-450-2069 or Morgen-Walke Associates Investor Relations: Cheryl Schneider/Shannon Moody Press: David Nugent/Jamie Kohn 212-850-5600