NEW YORK--(BUSINESS WIRE)--
G-III Apparel Group, Ltd. (NASDAQ:GIII) announced today that it has
entered into a multi-year wholesale license agreement with UK based
Overland Ltd. for the sale of men's, women's and children's footwear
under the G.H. Bass and related brands in Europe. Overland plans to sell
G.H. Bass footwear primarily to department and specialty stores
beginning in the fall of 2014. A companion agreement also enables
Overland to operate retail locations throughout Europe.
This latest agreement marks the second license that G-III has entered
into since acquiring G.H. Bass from PVH Corp. in November 2013. Earlier
this year, G-III announced a multi-year license with PVH Corp. for G.H.
Bass better men's sportswear for department store distribution
throughout North America.
Morris Goldfarb, Chairman, Chief Executive Officer and President of
G-III, commented, "We are pleased to partner with a best in class
organization such as Overland to bring this American heritage brand into
the global market. Overland's vast experience gives us a strong
foundation as we take advantage of opportunities to grow G.H. Bass in
these important markets."
Stephen Palmer, Chairman, and Chief Executive Officer of Overland,
commented, "We look forward to working with G-III to build the G.H. Bass
brand and business into a global franchise. We are confident that we can
develop and build wholesale distribution and retail stores throughout
Europe."
About G-III Apparel Group, Ltd.
G-III is a leading manufacturer and distributor of outerwear, dresses,
sportswear, swimwear, women's suits and women's performance wear, as
well as footwear, luggage and women's handbags, small leather goods and
cold weather accessories, under licensed brands, owned brands and
private label brands. G-III sells swimwear, resort wear and related
accessories under our own Vilebrequin brand. G-III also sells outerwear,
dresses and performance wear under the Andrew Marc and Marc New York
brands. G-III has fashion licenses under the Calvin Klein, Kenneth Cole,
Cole Haan, Guess?, Tommy Hilfiger, Jones New York, Jessica Simpson,
Vince Camuto, Ivanka Trump, Nine West, Ellen Tracy, Kensie, Levi's and
Dockers brands. Through its team sports business, the company maintains
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. Other
owned brands include Bass, G.H. Bass, Eliza J, Black Rivet and Jessica
Howard. G-III also operates retail stores under the Wilsons Leather,
Bass, G.H. Bass & Co., Vilebrequin, Calvin Klein Performance and Andrew
Marc names.
About Overland
Established in 1987, Overland is a specialist in the design, sourcing
and wholesale of branded men's and women's footwear. Since 2005 Overland
has been the global footwear licensee for the European denim brand
G-Star Raw. Previously, Overland has been a licensee involved in
building footwear businesses for such prestigious brands as CAT ®, Paul
Smith, Frye, Merrell, and Wolverine. Overland's headquarters are in
London, England.
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 environment, 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.
Investor Relations:
James Palczynski, 203-682-8229
or
G-III
Apparel Group, Ltd.
Neal S. Nackman, 212-403-0500
Chief
Financial Officer
Source: G-III Apparel Group, Ltd.
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