G-III Apparel Group, Ltd. (NasdaqGS: GIII) today announced that
it has entered into a retail store agreement with Calvin Klein,
Inc., a wholly owned subsidiary of PVH Corp. (NYSE: PVH), to open
Calvin Klein Performance stores and shop in shops for the sale of
women’s Calvin Klein Performance apparel in the United States and
China. G-III also has rights to expand to additional countries
throughout the world. Terms of the deal were not disclosed. G-III
noted that this retail store license is in addition to the women’s
wholesale Calvin Klein Performance license that it entered into in
2007.
The product offering will continue to be athletic and
performance wear that utilizes materials and designs that enhance
the lifestyle associated with women’s sports and activities,
including yoga, running, tennis, and biking. The line features
items rendered in authentic performance fabrics and is finished
with detailing appropriate for each of those classifications. The
products to be offered in the retail stores will include pants,
capris, shorts, tank tops, t shirts, and hooded jackets.
Morris Goldfarb, Chairman and Chief Executive Officer of G-III
Apparel Group, commented, “We believe that there is an excellent
opportunity to leverage the power and recognition of the Calvin
Klein brand to bring the performance line to a global audience of
consumers. Initially, we will launch in the United States and
China. We are very excited about the potential to roll these stores
out in countries around the world.”
Tom Murry, President and Chief Executive Officer of Calvin
Klein, Inc. stated, “G-III has shown repeatedly that they
understand our consumer and can steward the brand across a number
of important categories. We are excited to see them build upon the
work they have done in the United States to further expand Calvin
Klein Performance at retail both in the United States and
China.”
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.
Calvin Klein, Inc. is one of the leading fashion design and
marketing studios in the world. It designs and markets women’s and
men’s designer collection apparel and a range of other products
that are manufactured and marketed through an extensive network of
licensing agreements and other arrangements worldwide.
Brands/lifestyles include Calvin Klein Collection, ck Calvin Klein,
Calvin Klein, Calvin Klein Jeans and Calvin Klein Underwear.
Product lines under the various Calvin Klein brands include women’s
dresses and suits, men's dress furnishings and tailored clothing,
men’s and women's sportswear and bridge and collection apparel,
golf apparel, jeanswear, underwear, fragrances, eyewear, women’s
performance apparel, hosiery, socks, footwear, swimwear, jewelry,
watches, outerwear, handbags, small leather goods, and home
furnishings (including furniture). For more information, please
visit calvinklein.com.
PVH Corp., one of the world’s largest apparel companies, owns
and markets the iconic Calvin Klein and Tommy Hilfiger brands
worldwide. It is the world’s largest shirt and neckwear company and
markets a variety of goods under its own brands, Van Heusen, Calvin
Klein, Tommy Hilfiger, IZOD, ARROW, Bass and G.H. Bass & Co.,
and its licensed brands, including Geoffrey Beene, Kenneth Cole New
York, Kenneth Cole Reaction, MICHAEL Michael Kors, Sean John,
Chaps, Donald J. Trump Signature Collection, JOE Joseph Abboud,
DKNY, Ike Behar and John Varvatos. For more information, please
visit pvh.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 crisis, 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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