--Deal with IT Apparel II, LLC to begin with Spring/Summer 2014
Collection--
--Broad License Includes Women's Sportswear, Dresses, Suits, Activewear,
Jeanswear and Intimates--
NEW YORK--(BUSINESS WIRE)--
G-III Apparel Group, Ltd. (NasdaqGS:GIII) today announced that it has
entered into a license agreement with IT Apparel II, an entity wholly
owned by Ivanka Trump, a businesswoman, entrepreneur and celebrity to
develop sportswear, dresses, suits, suit separates, sleepwear, active
wear, jeanswear and intimates. The first collection of the Ivanka Trump
brand, which is expected to include dresses and sportswear, will be
distributed to department stores and better specialty stores in the
United States, Canada and Mexico for Spring/Summer 2014.
Morris Goldfarb, Chairman and Chief Executive Officer of G-III,
commented, "We are very excited to partner with Ivanka Trump on this
inspiring collection of women's apparel. The Ivanka Trump brand will
capture the next generation of young, confident and sophisticated women
as they make their mark on the world."
Ivanka Trump added, "G-III has distinguished itself as a trusted partner
for some of the world's finest and most visible brands. We are confident
that they share our vision for the future of our brand and business and
look forward to a long and successful partnership."
About G-III Apparel Group, Ltd.
G-III is a leading manufacturer and distributor of outerwear, dresses,
sportswear, swimwear, beachwear and women's suits, as well as handbags
and luggage, under licensed brands, our own brands and private label
brands. G-III sells swimwear, accessories and resort wear under our own
Vilebrequin brand. G-III also 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, Mac & Jac, 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
stores under the Wilsons Leather, Vilebrequin, Andrew Marc and Calvin
Klein Performance names.
About Ivanka Trump
As Executive Vice President of Development and Acquisitions, Ivanka
Trump (@ivankatrump) is charged with the domestic and global expansion
of the Trump Organization's real estate footprint. Trump is involved
with all aspects of the company's real estate and hotel management
initiatives and is the co-founder of the Trump® Hotel Collection. Trump
is a principal of Ivanka Trump Fine Jewelry, a luxury diamond line
launched in 2007. Trump's brand portfolio also includes collections of
footwear, handbags, outerwear, and most recently fragrance and
sunglasses which will launch spring 2013. In 2009, Trump published her
first book, a New York Times and Wall Street Journal Best Seller, The
Trump Card. Trump previously worked as a project manager in the retail
development division of Forest City Ratner Companies and received her
bachelor's degree in real estate from the Wharton School of Finance at
the University of Pennsylvania, graduating cum laude. www.ivankatrump.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 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.
For G-III Apparel Group, Ltd.
Investor Relations:
James
Palczynski, 203-682-8229
or
G-III Apparel Group, Ltd.
Wayne
S. Miller, 212-403-0500
Chief Operating Officer
Source: G-III Apparel Group, Ltd.
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