Macy’s, Inc. (NYSE:M), one of the nation’s premier retailers,
and G-III Apparel Group, Ltd., a leading manufacturer and
distributor of apparel and accessories under licensed brands, owned
brands and private label brands, today announced an agreement under
which Macy’s will serve, beginning February
2018, as the exclusive U.S. department store
for sales of DKNY women’s apparel and accessories.
Under the agreement, Macy’s exclusivity covers DKNY women’s
apparel, handbags and shoes, in addition to women’s and men’s
outerwear and swim, which will be available at Macy’s
locations nationwide and on macys.com. Macy’s and G-III will work
closely on brand extensions and exclusive products that build upon
the founding principles of the iconic New York–based
brand. The agreement also plans for increased and enhanced
DKNY shop-in-shops in Macy’s stores.
“We want to create partnerships that offer our customers
products and experiences that they can find only at Macy’s, and
DKNY is a fashion-first brand we know our customers love,” said
Jeff Gennette, president and chief executive officer of Macy’s,
Inc. “By offering exclusive access in key categories, we are
confident that DKNY will quickly become one of our top brands.
Their remarkable global recognition combined with our
expansive footprint make Macy’s and DKNY a perfect
partnership.”
“We believe that Macy’s is the ideal partner as we implement our
strategy for DKNY to be the premier brand in the world for women’s
apparel and accessories,” said Morris Goldfarb, chairman and chief
executive officer of G-III. "We have worked well with Macy’s in the
past with respect to our portfolio of brands and we are confident
that this partnership with Macy’s will help DKNY flourish and
capture market share.”
G-III will continue to operate the freestanding global DKNY
stores and DKNY.com. G-III also will maintain DKNY's
agreements with international license partners and
distributors outside of the United States. Products outside
the exclusive categories and products distributed by DKNY’s
various licensees under other categories in the DKNY family will
continue to be sold to a broad range of department
stores, including Macy’s.
About G-III Apparel Group, Ltd.
G-III is a leading manufacturer and distributor of apparel and
accessories under licensed brands, owned brands and private label
brands. G-III’s owned brands include Donna Karan, DKNY,
Vilebrequin, Eliza J., Andrew Marc, Marc New York, Bass, and
Jessica Howard. G-III has fashion licenses under the Calvin Klein,
Tommy Hilfiger, Karl Lagerfeld, Kenneth Cole, Cole Haan, Guess?,
Vince Camuto, Ivanka Trump, Kensie, Jessica Simpson, Levi's and
Dockers brands. Through its team sports business, G-III has
licenses with the National Football League, National Basketball
Association, Major League Baseball, National Hockey League, Hands
High, Touch by Alyssa Milano and more than 100 U.S. colleges and
universities. G-III also operates retail stores under the DKNY,
Wilsons Leather, Bass, Vilebrequin and Calvin Klein Performance
names.
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, risks relating
to G-III’s acquisition of Donna Karan International Inc. 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.
About DKNY
DKNY is one of the world’s leading fashion brands. From the
house founded by Donna Karan in 1984, DKNY emerged in 1989. The
company designs, markets and distributes collections of apparel,
accessories, footwear and select licensed product with distribution
in free standing stores and select department and specialty stores
globally. The label continues to merge modern tailoring with
sophisticated ease, celebrating the aspirational and practical
spirit of New York. Acquired by G-III Apparel Group in December
2016, the company continues to be recognized as one of the most
heralded names in American fashion.
About Macy's, Inc.
Macy’s, Inc. is one of the nation’s premier retailers. With
fiscal 2016 sales of $25.778 billion and approximately 140,000
employees, the company operates more than 700 department stores
under the nameplates Macy’s and Bloomingdale’s, and approximately
125 specialty stores that include Bloomingdale’s The Outlet,
Bluemercury and Macy’s Backstage. Macy’s, Inc. operates stores in
45 states, the District of Columbia, Guam and Puerto Rico, as well
as macys.com, bloomingdales.com and bluemercury.com. Bloomingdale’s
stores in Dubai and Kuwait are operated by Al Tayer Group LLC under
license agreements. Macy’s, Inc. has corporate offices in
Cincinnati, Ohio, and New York, New York.
All statements in this press release that are not statements of
historical fact are forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Such
statements are based upon the current beliefs and expectations of
Macy's management and are subject to significant risks and
uncertainties. Actual results could differ materially from those
expressed in or implied by the forward-looking statements contained
in this release because of a variety of factors, including
conditions to, or changes in the timing of, proposed real estate
and other transactions, prevailing interest rates and non-recurring
charges, store closings, competitive pressures from specialty
stores, general merchandise stores, off-price and discount stores,
manufacturers' outlets, the Internet, mail-order catalogs and
television shopping and general consumer spending levels, including
the impact of the availability and level of consumer debt, the
effect of weather and other factors identified in documents filed
by the company with the Securities and Exchange Commission.
Macy's disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
law.
(NOTE: Additional information on Macy's, Inc., including past
news releases, is available at www.macysinc.com/pressroom)
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version on businesswire.com: http://www.businesswire.com/news/home/20170327005261/en/
Macy’sJulie Strider Fukami,
646-429-5213julie.striderfukami@macys.comorDKNYJacalyn Bouza,
212-768-5903jbouza@dkny.com
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