PVH Corp. [NYSE:PVH] announced today that two of its
subsidiaries have entered into a license agreement with USA Legwear
LLC under which USA Legwear will manufacture, sell, distribute and
promote women’s hosiery and socks under the Warner’s brand.
Products will launch for Spring 2018 and be sold primarily in
leading department stores, specialty stores, national chains and
mass retailers throughout the United States and Canada.
The Warner’s product offering will include women’s sheer
hosiery, tights, leggings, thigh highs, knee highs, trouser socks,
dress socks, athletic socks, casual socks and boot socks.
“As we seek ways to grow the Warner’s product line, we naturally
came upon hosiery as a great fit with our intimate apparel
offerings. The Warner’s brand has a leading market share position
in bras and panties, and we believe that USA Legwear can leverage
this positioning to develop and grow a hosiery business,” said Ken
Wyse, President Licensing, PVH Corp. “USA Legwear has extensive
knowledge and experience in this product category, and we look
forward to working with them to build this business."
Aaron Harari, President & CEO, USA Legwear LLC added “We are
thrilled to add the Warner’s brand to our current portfolio and
expand upon our existing partnership with PVH for its Van Heusen
brand. Socks and hosiery are a natural extension for the Warner’s
brand. We look forward to bringing the highly successful solutions
oriented model to the category through innovation, while continuing
to fuel the market share momentum Warner’s has enjoyed over the
last several years.”
About PVH Corp.
With a history going back over 135 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, Ltd.
About USA Legwear, LLC.
Since its founding in 2009, USA Legwear has become a leading
global resource for socks and hosiery, while holding true to a
singular mission: to elevate the quality of everyday legwear
products without sacrificing value. USA Legwear manufactures,
markets and distributes for many of today’s leading brands, such as
Van Heusen, Reebok, Nautica, AND1, Avia, Buffalo, and Body Glove,
with product ranges from infants through adults. The company’s wide
range of offerings can be found on the shelves of specialty shops,
department stores, mid-tier, and mass retail channels.
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 (the “Company”) future 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, (i) the
Company’s plans, strategies, objectives, expectations and
intentions are subject to change at any time at the discretion of
the Company; (ii) the Company may be considered to be highly
leveraged, and uses a significant portion of its cash flows to
service its indebtedness, as a result of which the Company might
not have sufficient funds to operate its businesses in the manner
it intends or has operated in the past; (iii) the levels of
sales of the Company’s apparel, footwear and related products, both
to its wholesale customers and in its retail stores, 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
and its 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, repositionings of brands by the Company’s licensors and
other factors; (iv) the Company’s plans and results of
operations will be affected by the Company’s ability to manage its
growth and inventory; (v) the Company’s operations and results
could be affected by quota restrictions and the imposition of
safeguard controls (which, among other things, could limit the
Company’s ability to produce products in cost-effective countries
that have the labor and technical expertise needed), the
availability and cost of raw materials, the Company’s ability to
adjust timely to changes in trade regulations and the migration and
development of manufacturers (which can affect where the Company’s
products can best be produced), changes in available factory and
shipping capacity, wage and shipping cost escalation, and 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 or its licensees’ or other business
partners’ products are sold, produced or are planned to be sold or
produced; (vi) 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 become ill or limit or cease shopping in
order to avoid exposure; (vii) 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 (viii) other risks and uncertainties indicated from
time to time in the Company’s filings with the Securities and
Exchange Commission.
Risks and uncertainties related to the acquisition include,
among others: the risk that the conditions to the closing are not
satisfied and the transaction is not completed; uncertainties as to
the timing of the acquisition; competitive responses to the
acquisition; the inability to obtain, or delays in obtaining,
synergies from the acquisition; unexpected costs, charges or
expenses resulting from the acquisition; litigation relating to the
acquisition; the inability to recognize the expected benefits of
the acquisition; the inability to integrate the acquired business
without disruption to the acquired business or existing operations;
and any changes in general economic and/or industry specific
conditions.
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/20170413005242/en/
PVH Corp.:Dana Perlman,
212-381-3502Treasurer and Senior Vice President, Business
Development & Investor Relationscommunications@pvh.com
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