NEW YORK--(BUSINESS WIRE)--
G-III Apparel Group, Ltd. (NasdaqGS: GIII) today announced that it has
entered into a retail store agreement with Calvin Klein, Inc., a wholly
owned subsidiary of PVH Corp. (NYSE: PVH), to open Calvin Klein
Performance stores and shop in shops for the sale of women's Calvin
Klein Performance apparel in the United States and China. G-III also has
rights to expand to additional countries throughout the world. Terms of
the deal were not disclosed. G-III noted that this retail store license
is in addition to the women's wholesale Calvin Klein Performance license
that it entered into in 2007.
The product offering will continue to be athletic and performance wear
that utilizes materials and designs that enhance the lifestyle
associated with women's sports and activities, including yoga, running,
tennis, and biking. The line features items rendered in authentic
performance fabrics and is finished with detailing appropriate for each
of those classifications. The products to be offered in the retail
stores will include pants, capris, shorts, tank tops, t shirts, and
hooded jackets.
Morris Goldfarb, Chairman and Chief Executive Officer of G-III Apparel
Group, commented, "We believe that there is an excellent opportunity to
leverage the power and recognition of the Calvin Klein brand to bring
the performance line to a global audience of consumers. Initially, we
will launch in the United States and China. We are very excited about
the potential to roll these stores out in countries around the world."
Tom Murry, President and Chief Executive Officer of Calvin Klein, Inc.
stated, "G-III has shown repeatedly that they understand our consumer
and can steward the brand across a number of important categories. We
are excited to see them build upon the work they have done in the United
States to further expand Calvin Klein Performance at retail both in the
United States and China."
G-III is a leading manufacturer and distributor of outerwear, dresses,
sportswear and women's suits, as well as handbags and luggage, under
licensed brands, our own brands and private label brands. G-III sells
outerwear and dresses under our own Andrew Marc, Marc New York and Marc
Moto brands and has licensed these brands to select third parties in
certain product categories. G-III has fashion licenses under the Calvin
Klein, Sean John, Kenneth Cole, Cole Haan, Guess?, Jones New York,
Jessica Simpson, Vince Camuto, Nine West, Ellen Tracy, Tommy Hilfiger,
Kensie, Levi's and Dockers brands and sports licenses with the National
Football League, National Basketball Association, Major League Baseball,
National Hockey League, Touch by Alyssa Milano and more than 100 U.S.
colleges and universities. Our other owned brands include Jessica
Howard, Eliza J, Black Rivet, G-III, G-III Sports by Carl Banks and
Winlit. G-III also operates retail outlet stores under our Wilsons
Leather name and is a party to a joint venture that operates retail
outlet stores under the Vince Camuto name.
Calvin Klein, Inc. is one of the leading fashion design and marketing
studios in the world. It designs and markets women's and men's designer
collection apparel and a range of other products that are manufactured
and marketed through an extensive network of licensing agreements and
other arrangements worldwide. Brands/lifestyles include Calvin Klein
Collection, ck Calvin Klein, Calvin Klein, Calvin
Klein Jeans and Calvin Klein Underwear. Product lines under
the various Calvin Klein brands include women's dresses and
suits, men's dress furnishings and tailored clothing, men's and women's
sportswear and bridge and collection apparel, golf apparel, jeanswear,
underwear, fragrances, eyewear, women's performance apparel, hosiery,
socks, footwear, swimwear, jewelry, watches, outerwear, handbags, small
leather goods, and home furnishings (including furniture). For more
information, please visit calvinklein.com.
PVH Corp., one of the world's largest apparel companies, owns and
markets the iconic Calvin Klein and Tommy Hilfiger brands
worldwide. It is the world's largest shirt and neckwear company and
markets a variety of goods under its own brands, Van Heusen, Calvin
Klein, Tommy Hilfiger, IZOD, ARROW, Bass
and G.H. Bass & Co., and its licensed brands, including Geoffrey
Beene, Kenneth Cole New York, Kenneth Cole Reaction, MICHAEL
Michael Kors, Sean John, Chaps, Donald J. Trump
Signature Collection, JOE Joseph Abboud, DKNY, Ike
Behar and John Varvatos. For more information, please visit
pvh.com.
Statements concerning G-III's business outlook or future economic
performance, anticipated revenues, expenses or other financial items;
product introductions and plans and objectives related thereto; and
statements concerning assumptions made or expectations as to any future
events, conditions, performance or 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
factors which include, but are not limited to, reliance on licensed
product, reliance on foreign manufacturers, risks of doing business
abroad, the current economic and credit crisis, the nature of the
apparel industry, including changing customer demand and tastes,
customer concentration, seasonality, risks of operating a retail
business; customer acceptance of new products, the impact of competitive
products and pricing, dependence on existing management, possible
disruption from acquisitions and general economic conditions, as well as
other risks detailed in G-III's filings with the Securities and Exchange
Commission. G-III assumes no obligation to update the information in
this release.
For G-III Apparel Group, Ltd.
Investor Relations:
James
Palczynski, 203-682-8229
or
G-III Apparel Group, Ltd.
Wayne
S. Miller, Chief Operating Officer
212-403-0500
Source: G-III Apparel Group, Ltd.
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