G-III Apparel Group, Ltd. (NASDAQ GS: GIII) and Inter Parfums,
Inc. (NASDAQ GS: IPAR) today announced that they have entered into
a long-term global licensing agreement for the creation,
development and distribution of fragrances and fragrance-related
products under the iconic Donna Karan and DKNY brands. Inter
Parfums, Inc. will take on the exclusive license, effective July 1,
2022.
Jean Madar, Chairman & CEO of Inter Parfums, Inc. stated,
“The Donna Karan and DKNY brands, which draw from the energy and
attitude of New York City, are powerhouses in fashion and
fragrance. These global lifestyle brands will make excellent
additions to our portfolio. With this agreement, we are gaining
several well-established and valuable fragrance franchises, most
notably Donna Karan Cashmere Mist and DKNY Be Delicious, as well as
a significant loyal consumer base around the world. Upon joining
our portfolio, these brands will rank among our largest. We are
also planning to launch new fragrances under these brands in
2023.”
Morris Goldfarb, Chairman and CEO of G-III Apparel Group, Ltd.,
parent of the Donna Karan and DKNY brands, stated, “The fragrance
category enables our fashion brands to connect more broadly with a
global consumer. Inter Parfums ability to develop fragrances for an
impressive portfolio of brands, combined with their extensive
worldwide distribution capabilities, are a testament to their
leadership position in the fragrance market. G-III is very pleased
to partner with Inter Parfums in the next chapter of developing
fragrance for our Donna Karan and DKNY brands.”
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 substantial
portfolio of more than 30 licensed and proprietary brands is
anchored by five global power brands: DKNY, Donna Karan, Calvin
Klein, Tommy Hilfiger and Karl Lagerfeld Paris. G-III’s owned
brands include DKNY, Donna Karan, Vilebrequin, G.H. Bass, Eliza J,
Jessica Howard, Andrew Marc and Marc New York. 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 distributes directly
to consumers through its DKNY, Karl Lagerfeld Paris and Vilebrequin
stores and its digital channels for the DKNY, Donna Karan,
Vilebrequin, Karl Lagerfeld Paris, Andrew Marc, Wilsons Leather and
G.H. Bass brands.
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, risks related to the COVID-19
outbreak, reliance on licensed product, reliance on foreign
manufacturers, risks of doing business abroad, the current economic
and credit environment, risks related to our indebtedness, the
nature of the apparel industry, including changing customer demand
and tastes, customer concentration, seasonality, risks of operating
a retail business, risks related to G-III’s ability to reduce the
losses incurred in its retail operations, customer acceptance of
new products, the impact of competitive products and pricing,
dependence on existing management, possible disruption from
acquisitions, the impact on G-III’s 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.
ABOUT INTER PARFUMS
Founded in 1982, Inter Parfums, Inc. develops, manufactures and
distributes prestige perfumes and cosmetics as the exclusive
worldwide licensee for Abercrombie & Fitch, Anna Sui,
Boucheron, Coach, Dunhill, Graff, GUESS, Hollister, Jimmy Choo,
Karl Lagerfeld, Kate Spade, MCM, Moncler, Montblanc, Oscar de la
Renta, S.T. Dupont and Van Cleef & Arpels. Inter Parfums is
also the owner of Lanvin fragrances and the Rochas brand. Through
its global distribution network, the Company’s products are sold in
over 120 countries.
Statements in this release which are not historical in nature
are forward-looking statements. Although we believe that our plans,
intentions and expectations reflected in such forward-looking
statements are reasonable, we can give no assurance that such
plans, intentions or expectations will be achieved. In some cases
you can identify forward-looking statements by forward-looking
words such as "anticipate," "believe," "could," "estimate,"
"expect," "intend," "may," "should," "will," and "would," or
similar words. You should not rely on forward-looking statements,
because actual events or results may differ materially from those
indicated by these forward-looking statements as a result of a
number of important factors. These factors include, but are not
limited to, the risks and uncertainties discussed under the
headings “Forward Looking Statements” and "Risk Factors" in Inter
Parfums' annual report on Form 10-K for the fiscal year ended
December 31, 2020 and the reports Inter Parfums files from time to
time with the Securities and Exchange Commission. Inter Parfums
does not intend to and undertakes no duty to update the information
contained in this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20210930005109/en/
Contacts for G-III Apparel Group, Ltd.:
Saba Landmann, VP Global PR (212) 789-1535
saba.landmann@g-iii.com www.giii.com
Priya Trivedi, SVP Investor Relations and Treasurer (646)
473-5228 priya.trivedi@g-iii.com www.giii.com
Contacts for Inter Parfums, Inc.: Russell Greenberg,
Exec. VP & CFO (212) 983-2640 rgreenberg@interparfumsinc.com
www.interparfumsinc.com
Investor Relations Counsel The Equity Group Inc. Devin Sullivan
(212) 836-9608 / dsullivan@equityny.com Linda Latman (212) 836-9609
/ llatman@equityny.com www.theequitygroup.com
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