G-III Apparel Group, Ltd. Signs Licensing Deal for Kensie Brand
November 02 2011 - 10:27AM
Business Wire
G-III Apparel Group, Ltd. (NasdaqGS: GIII) today announced that
it has entered into a license agreement with KMJ Brand Holdings,
LLC, an affiliate of Bluestar Alliance, LLC, to develop sportswear,
dresses, tailored clothing, activewear and sweaters under the
Kensie brand for the U.S. and Canadian markets. Kensie, distributed
primarily through department stores and better specialty stores, is
a fashionable, edgy, and elegant contemporary brand aimed at modern
young women.
The Company expects to begin shipping sportswear in the first
quarter of 2012 and to follow with the launch of additional
categories. The terms of the deal were not disclosed.
Morris Goldfarb, G-III’s Chairman and Chief Executive Officer,
commented, “We are very pleased to welcome Kensie as our newest
partner. We believe this contemporary, sophisticated brand presents
a growth opportunity across a number of important categories. With
our wide range of resources, we are confident that we can grow
Kensie into a meaningful brand for us and our retail
customers.”
Joseph Gabbay, Chief Executive Officer of Bluestar Alliance, LLC
commented, “This is an important development for our company, and
we are excited about the long-term growth potential this
partnership represents. Partnering with G-III was an obvious step
towards solidifying our goal of building Kensie into an important
global brand and business.”
Eric Karls, President of Kensie, and Lani Karls, Creative
Director of Kensie, will both join G-III to continue their
direction of the brand. Mr. Karls stated, “Our mission is to
develop Kensie into a leading, global contemporary brand. We
believe the combination of our brand management and understanding
of the contemporary market and customer with G-III’s comprehensive
production, sales and distribution capabilities in each of the
major product categories will be formidable. We are excited to
become part of the G-III organization and to have this exceptional
opportunity to continue to expand the Kensie brand and
business.”
About G-III Apparel Group, Ltd.
G-III is a leading manufacturer and distributor of outerwear,
dresses, sportswear and women's suits, as well as handbags and
luggage, under licensed brands, our own brands and private label
brands. G-III 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, 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 outlet stores under
our Wilsons Leather name and is a party to a joint venture that
operates retail outlet stores under the Vince Camuto name.
About KMJ Brand Holdings
Bluestar Alliance, LLC owns, manages and markets a growing
portfolio of consumer brands including Kensie, Liz Lange Maternity®
English Laundry®, Hot Kiss®, First Kiss®, Harve Benard® and
Completely Me®. Bluestar licenses its brands to a network of best
in class manufacturers and retailers both in the U.S. and
internationally.
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.
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