PVH Corp. to License Tommy Hilfiger Men’s Tailored Clothing Business for North America to Peerless
January 24 2017 - 4:05PM
Business Wire
PVH Corp. [NYSE:PVH] announced today that its Tommy Hilfiger
Licensing LLC subsidiary has entered into a license agreement with
Peerless Clothing International, Inc. for the Tommy Hilfiger men’s
tailored clothing business for North America beginning January 1,
2018. The business is currently operated by Marcraft Clothes, Inc.
PVH is moving the license to Peerless in order to consolidate the
North America men’s tailored businesses for all of its brands under
one partner. In connection therewith, the terms of all the licenses
were amended to run through at least December 31, 2022. No other
terms were disclosed.
Emanuel Chirico, Chairman and CEO of PVH said, “We have had a
long-standing and successful relationship with Peerless, which has
been the licensee for our Calvin Klein, Van Heusen, and IZOD brands
for several years. We believe it best serves the needs of our
Company and brands to have all of the men’s tailored businesses
under the direction of one partner and that Peerless is
well-positioned to build upon the success to date of the Tommy
Hilfiger men’s tailored clothing business.”
Alvin Segal, Chairman and CEO of Peerless Clothing International
said, “We are pleased and honored that PVH has chosen to have
Peerless as its licensee in North America for all its brands for
men’s tailored clothing.”
“We are excited to expand our relationship with PVH to include
the Tommy Hilfiger brand,” added Ronny Wurtzburger, President,
Peerless Clothing International. “We believe that the brand’s rich
American heritage and preppy with a twist designs will be a great
addition to our offerings under PVH’s brands and will allow us to
better serve all of PVH’s businesses and consumer tastes.”
About PVH Corp.
With a history going back over 130 years, PVH has excelled at
growing brands and businesses with rich American heritages,
becoming one of the largest apparel companies in the world. We
have over 30,000 associates operating in over 40 countries and
over $8 billion in annual revenues. We own the
iconic Calvin Klein, Tommy Hilfiger, Van Heusen, IZOD, ARROW,
Speedo*, Warner’s and Olga brands, and market a
variety of goods under these and other nationally and
internationally known owned and licensed brands.
*The Speedo brand is licensed for North America and the
Caribbean in perpetuity from Speedo International, Limited.
About Peerless Clothing
International, Inc.
Peerless Clothing, founded in 1919, is the largest manufacturer
and distributor of tailored clothing in North
America. Peerless’ range of products includes suits, suit
separates, sport coats, dress pants, tuxedos, overcoats, and
raincoats for both men and boys.
PVH CORP. SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES
LITIGATION REFORM ACT OF 1995: Forward-looking statements made in
this press release, including, without limitation, statements
relating to PVH Corp.’s future earnings, plans, strategies,
objectives, expectations and intentions, are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. Investors are cautioned that such forward-looking
statements are inherently subject to risks and uncertainties, many
of which cannot be predicted with accuracy, and some of which might
not be anticipated, including, without limitation, the following:
(i) the Company's plans, strategies, objectives, expectations and
intentions are subject to change at any time at the discretion of
the Company, including that the Company may not conclude the
intended purchase from Marcraft Clothes, Inc. or consolidate the
men’s tailored businesses under its brands in North America; (ii)
the levels of sales of the Company's licensees at wholesale and
retail, and the extent of discounts and promotional pricing in
which the Company's licensees and other business partners are
required to engage, all of which can be affected by weather
conditions, changes in the economy, fuel prices, reductions in
travel, fashion trends, consolidations, repositionings and
bankruptcies in the retail industries, and other factors; (iii)
civil conflict, war or terrorist acts, the threat of any of the
foregoing, or political and labor instability in any of the
countries where the Company's licensees' or other business
partners' products are sold, produced or are planned to be sold or
produced; (iv) disease epidemics and health related concerns, which
could result in closed factories, reduced workforces, scarcity of
raw materials and scrutiny or embargoing of goods produced in
infected areas, as well as reduced consumer traffic and purchasing,
as consumers limit or cease shopping in order to avoid exposure or
become ill; (v) the failure of the Company's licensees to market
successfully licensed products or to preserve the value of the
Company's brands, or their misuse of the Company's brands and (vi)
other risks and uncertainties indicated from time to time in the
Company's filings with the Securities and Exchange Commission.
The Company does not undertake any obligation to update publicly
any forward-looking statement, whether as a result of the receipt
of new information, future events or otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20170124006467/en/
PVH Corp.Dana Perlman, 212-381-3502Treasurer and Senior Vice
President, Business Development and Investor
Relationsinvestorrelations@pvh.com
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