Perry Ellis International Signs New Licensing Agreement for Tailored Clothing under the Perry Ellis(R) Brand
May 15 2008 - 11:48AM
Business Wire
Perry Ellis International (NASDAQ:PERY), announced today it has
entered into a licensing agreement with Smart Apparel U.S. to
design, manufacture and distribute a collection of tailored
clothing, including men�s suits, suit separates and sport jackets,
for the U.S. market under the Perry Ellis� and Perry Ellis
Portfolio� brands. This agreement excludes tuxedos. Oscar
Feldenkreis, President and Chief Operating Officer of Perry Ellis
International, said, �We are very excited about signing yet another
key agreement that complements our Perry Ellis line. Smart Apparel
has done a terrific job of interpreting the Perry Ellis lifestyle
in dress shirts, and we expect continued success in tailored
clothing.� The spring line will be available nationwide in January
2009 at major department stores such as Macy�s, Bon-Ton, Belk,
Gottschalk�s and Dillard�s, and at better specialty stores. �We are
very excited about the potential of this enhanced alliance with
Perry Ellis,� said Michael Surella, President of Smart Apparel U.S.
�By blending Perry Ellis� design capabilities with Smart Apparel�s
manufacturing expertise, we can offer a unique synergy of product
to our dress shirt and tailored customers that are certain to
exceed their expectations.� For further information, please
contact: � Maria Folyk-Kushneir � � Michael Surella Vice President
Licensing President Perry Ellis International, Inc. Smart Apparel
U.S., LTD Tel: 212-536-5718 Tel: 212-329-3460 Fax: 917-546-5718
Fax: 917-456-3418 maria.folyk-kushneir@pery.com
MichaelSurella@smartapparelus.com 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. The Company's collection of
dress and casual shirts, golf sportswear, sweaters, dress and
casual pants and shorts, jeans wear, active wear and men's and
women's swimwear is available through all major levels of retail
distribution. The Company, through its wholly owned subsidiaries,
owns a portfolio of nationally and internationally recognized
brands including Perry Ellis�, Jantzen�, Laundry by Shelli Segal�,
C&C California�, Cubavera�, Munsingwear�, Savane�, Original
Penguin� by Munsingwear�, Grand Slam�, Natural Issue�, Pro Player�,
the Havanera Co.�, Axis�, Tricots St. Raphael�, Gotcha�, Girl Star�
and MCD�. The Company enhances its roster of brands by licensing
trademarks from third parties including Dockers� for outerwear,
Nike� and JAG� for swimwear, and PING� and PGA TOUR� for golf
apparel. Additional information is available at
http://www.pery.com. About Smart Apparel U.S., LTD. Smart Apparel
U.S. is a division of Smart Apparel Ltd., a wholly-owned subsidiary
of Youngor LTD, headquartered in Ningbo, China. The division, which
is headquartered in New York, is a leading menswear marketer,
producing men's sportswear, dress and sport shirts, knits and woven
tops. License agreements include Axcess�, Claiborne�, Concepts by
Claiborne�, Nautica� and O Oscar, an Oscar de la Renta Company.
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," "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 businesses, 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, the termination or non-renewal of any material
license agreements to which we are a party, changes in the costs of
raw materials, labor and advertising, our ability to carry out
growth strategies including expansion in international and direct
to consumer retail markets, the level of consumer spending for
apparel and other merchandise, our ability to compete, 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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