Perry Ellis International Enters into License Agreement With JAG Swimwear
May 22 2006 - 3:24PM
Business Wire
Perry Ellis International, Inc. (NASDAQ:PERY) announced today that
it has entered into a license agreement with JAG Licensing LLC to
manufacture and distribute JAG(R) men's and women's swimwear and
cover-ups in the United States, Canada and Mexico. The agreement
runs through June 2011. "We are pleased to be selected as the new
JAG(R) licensee," said Perry Ellis International Chairman and CEO
George Feldenkreis. "We plan to leverage our strong distribution
with Jantzen(R), Perry Ellis(R), Original Penguin(R) and Nike(R)
Swim so that JAG(R) can reach its full potential. Our growing
portfolio of compelling swim brands also helps strengthen our
relationships with our retail partners." Perry Ellis International
Action Sports Brands and Swimwear President Seth Ellison remarked:
"The contemporary women's swim consumer has developed a strong
affinity for the JAG(R) label over the last several years. I am
pleased to report that we have hired the talented and experienced
group responsible for the brand's successful sales and product
creation. The combination of their talent and passion for swim
product with Perry Ellis International's vast sourcing, supply
chain, planning, and logistics resources creates a powerful synergy
for the brand." Robert Silver, on behalf of JAG Licensing, stated:
"We are very pleased that Perry Ellis International, with its
exceptionally strong presence in the women's swimwear market, has
committed to expanding and enhancing the JAG(R) brand. We believe
that this already dynamic brand will benefit significantly from
Perry Ellis International's creative and marketing resources."
Perry Ellis International will launch the product for Cruise and
Spring 2007 into better department and specialty stores. About
Perry Ellis International Perry Ellis International, Inc. is a
leading designer, distributor and licensor of a broad line of high
quality men's and women's apparel, accessories, and fragrances,
including dress and casual shirts, golf sportswear, sweaters, dress
and casual pants and shorts, jeans wear, active wear and men's and
women's swimwear to all major levels of retail distribution. The
company, through its wholly owned subsidiaries, owns a portfolio of
highly recognized brands including Perry Ellis(R), Jantzen(R),
Cubavera(R), Munsingwear(R), Savane(R), Original Penguin(R), Grand
Slam(R), Natural Issue(R), Pro Player(R), the Havanera Co.(R),
Axis(R), Tricots St. Raphael(R), Gotcha(R), Girl Star(R) and
MCD(R). The company also licenses trademarks from third parties
including Dockers(R) for outerwear, Nike(R) for swimwear, and
PING(R) and PGA TOUR(R) for golf apparel. Additional information on
the company is available at http://www.pery.com. Safe Harbor
Statement We caution readers that the forward-looking statements
(statements which are not historical facts) in this release are
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are based on current expectations rather than historical
facts and they are indicated by words or phrases such as
"anticipate," "could," "may," "might," "potential," "predict,"
"should," "estimate," "expect," "project," "believe," "intend,"
"plan," "envision," "continue," "intend," "target," "contemplate,"
or "will" and similar words or phrases or comparable terminology.
We have based such forward-looking statements on our current
expectations, assumptions, estimates and projections. While we
believe these expectations, assumptions, estimates and projections
are reasonable, such forward-looking statements are only
predictions and involve known and unknown risks and uncertainties,
and other factors that may cause actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements, many of which are beyond our control.
These factors include: general economic conditions, a significant
decrease in business from or loss of any of our major customers or
programs, anticipated and unanticipated trends and conditions in
our industry, including the impact of recent or future retail and
wholesale consolidation, the effectiveness of our planned
advertising, marketing and promotional campaigns, our ability to
contain costs, disruptions in the supply chain, our future capital
needs and our ability to obtain financing, our ability to integrate
acquired business, trademarks, tradenames and licenses, our ability
to predict consumer preferences and changes in fashion trends and
consumer acceptance of both new designs and newly introduced
products, changes in the costs of raw materials, labor and
advertising, our ability to carry out growth strategies, the level
of consumer spending for apparel and other merchandise, our ability
to compete, the termination or non-renewal of any material license
agreements to which we are a party, exposure to foreign currency
risk and interest rate risk, possible disruption in commercial
activities due to terrorist activity and armed conflict, and other
factors set forth in Perry Ellis International's filings with the
Securities and Exchange Commission. Investors are cautioned that
all forward-looking statements involve risks and uncertainties,
including those risks and uncertainties detailed in Perry Ellis'
filings with the SEC. You are cautioned not to place undue reliance
on these forward-looking statements, which are valid only as of the
date they were made. We undertake no obligation to update or revise
any forward-looking statements to reflect new information or the
occurrence of unanticipated events or otherwise.
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