Camuto Group and G-III Apparel Announce Licensing Agreement for Jessica Simpson
NEW YORK, Jul 23, 2008 -- The Camuto Group announced today that it has entered into an exclusive multi-year licensing agreement with G-III Apparel Group, Ltd. (Nasdaq:GIII), to design, develop, manufacture and distribute a line of contemporary dresses under the 'Jessica Simpson' label.
Debuting with a soft launch for Spring 2009 with a complete roll-out expected for the Fall 2009 season, the collection will be designed to complement the brands already successful assortment of footwear, swimwear, handbags, sunglasses/eyewear, outerwear and jewelry and will continue to deliver on the brand promise of providing the consumer with stylish, contemporary product.
"I'm extremely excited to be expanding into the dress market," stated Jessica Simpson. "I plan on creating beautiful dresses in distinctive fabrics and silhouettes that are reflective of my personal style and offer something special to the market place."
"The contemporary dress market is the ideal evolution for the Jessica Simpson brand," said Bob Galvin, President, Camuto Group. "We are extremely pleased to partner with G-III on this endeavor; their expertise and knowledge of the dress market will help us to deliver the design, quality and value which are the cornerstones of the Jessica Simpson brand."
"We are pleased to continue to strengthen our relationship with the Camuto Group, with the launch of Jessica Simpson dresses," stated Morris Goldfarb, G-III's Chairman and Chief Executive Officer. "This agreement broadens our existing relationship, which already includes the Camuto Group producing women's footwear under the Andrew Marc label. Our existing dress lines are well received at retail and we believe that we will deliver the same success with the Jessica Simpson Collection."
About G-III Apparel Group, Ltd.
G-III Apparel Group, Ltd. is a leading manufacturer and distributor of outerwear and sportswear under licensed brands, private labels and our own brands. G-III also operates 116 outlet stores under the Wilsons Leather name. The Company has fashion licenses, among others, under the Calvin Klein, Kenneth Cole, Sean John, Cole Haan, Guess?, Jones New York, Nine West, Ellen Tracy, House of Dereon, IZOD, Tommy Hilfiger, 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. G-III works with leading retailers in developing product lines to be sold under its own proprietary private labels. Company-owned brands include, among others, Andrew Marc, Marc New York, Marvin Richards, G-III, Jessica Howard, Eliza J., Industrial Cotton, Black Rivet, Siena Studio, Colebrook, G-III by Carl Banks, Winlit, NY 10018 and La Nouvelle Renaissance.
About Camuto Group
The Camuto Group is a leading organization for design, development and distribution of women's fashion footwear and is renowned for its ability to build women's lifestyle brands on a global scale. Camuto Group products are sold in over 5400 doors worldwide. The Camuto Group is the owner of the Vince Camuto and Arturo Chiang brands and is the master licensee for the Jessica Simpson collection. The company also develops and manages the Antonio Melani® and Gianni Bini® brands, and holds the footwear license for BCBGirls®, BCBG Max Azria®, Andrew Marc and Nicole Miller®. The Camuto Group also has partnerships with Tory Burch, Development by Erica Davies and Sanctuary.
Safe Harbor Language
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, the nature of the apparel industry, including changing customer demand and tastes, customer concentration, seasonality, 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.
Contacts: The Camuto Group
Lisa Mitchell, 646-898-1027
Lisa.Mitchell@camutogroup.com
G-III Apparel Group, Ltd.
Wayne S. Miller, 212-403-0500
Chief Operating Officer