PVH Corp. [NYSE: PVH] and G-III Apparel Group, Ltd. (NasdaqGS:
GIII) announced today that PVH’s Calvin Klein, Inc. (“CKI”)
subsidiary and G-III have entered into a license agreement with an
initial term of five years for the design, production and
distribution of Calvin Klein Jeans women’s jeanswear collections in
the United States and Canada. This business is in addition to the
other women’s Calvin Klein businesses that are already licensed to
G-III by CKI.
The arrangement will support PVH’s strategy to build a
successful women’s jeanswear business in North America by
leveraging G-III’s category and market expertise. The launch of
G-III’s first women’s Calvin Klein Jeans collection is expected for
the spring 2020 season.
Emanuel Chirico, Chairman and Chief Executive Officer, PVH Corp.
commented “G-III has been a great partner for us over the years and
has successfully grown the Calvin Klein womenswear business to be a
leading resource across the North American apparel market. We look
forward to our expanded partnership with G-III, as this represents
another great opportunity to leverage their market expertise to
drive the continued expansion of the Calvin Klein women’s apparel
categories.”
Morris Goldfarb, Chairman, Chief Executive
Officer, G-III Apparel Group, Ltd. commented, “We have an
incredible relationship with PVH and the Calvin Klein team. They
have done an outstanding job managing and marketing the Calvin
Klein brand and we look forward to further developing this iconic
global brand and building a profitable women’s business for Calvin
Klein Jeans in the U.S. and Canada.”
About Calvin Klein Inc.:
CALVIN KLEIN is a global lifestyle brand that exemplifies bold,
progressive ideals and a seductive aesthetic. We seek to thrill and
inspire our audience while using provocative imagery and striking
designs to ignite the senses.
Founded in 1968 by Calvin Klein and his business partner Barry
Schwartz, we have built our reputation as a leader in American
fashion through our clean aesthetic and innovative designs. Global
retail sales of CALVIN KLEIN brand products exceeded $9 billion in
2018 and were distributed in over 110 countries. Calvin Klein
employs over 11,500 associates globally. We were acquired by PVH
Corp. in 2003.
About PVH:
PVH is one of the most admired fashion and lifestyle companies
in the world. We power brands that drive fashion forward – for
good. Our brand portfolio includes the iconic CALVIN
KLEIN, TOMMY HILFIGER, Van
Heusen, IZOD, ARROW, Speedo*, Warner’s, Olga
and Geoffrey Beene brands, as well as the
digital-centric True & Co. intimates brand. We market
a variety of goods under these and other nationally and
internationally known owned and licensed brands. PVH has over
38,000 associates operating in over 40 countries and $9.7
billion in annual revenues.
*The Speedo brand is licensed for North
America and the Caribbean in perpetuity
from Speedo International Limited.
About G-III Apparel Group, Ltd.:
G-III designs, sources and markets apparel and accessories under
owned, licensed and private label brands. G-III’s owned brands
include DKNY, Donna Karan, Vilebrequin, G. H. Bass, Andrew Marc,
Marc New York, Eliza J and Jessica Howard. G-III has fashion
licenses under the Calvin Klein, Tommy Hilfiger, Karl Lagerfeld
Paris, Kenneth Cole, Cole Haan, Guess?, Vince Camuto, 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, and
over 150 U.S. colleges and universities. G-III also operates retail
stores under the DKNY, Wilsons Leather, G. H. Bass, Vilebrequin,
Karl Lagerfeld Paris and Calvin Klein Performance names.
SAFE HARBOR STATEMENT OF PVH CORP. 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 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 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 become ill or limit or cease shopping in order to
avoid exposure; (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.
SAFE HARBOR STATEMENT OF G-III APPAREL GROUP, LTD. UNDER THE
PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: 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 operations
of Donna Karan International Inc., the impact on our business of
the imposition of tariffs by the United States government and
business 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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version on businesswire.com: https://www.businesswire.com/news/home/20190603005376/en/
PVH Corp.:Dana
PerlmanTreasurer and Senior Vice President, Business
Development & Investor Relations(212)
381-3502investorrelations@pvh.com
Calvin Klein
Inc.:Caroline CurtisVP, Brand Marketing &
Corporate CommunicationsCALVINKLEINCommunications@ck.com
G-III Apparel Group,
Ltd.:Priya TrivediVP of Investor Relations and
Treasurer(646) 473-5157
G-III Investor Relations – ICR
Inc.Tom Filandro(646) 277-1235
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