Perry Ellis International Moves Its Leather Products & Accessories Business In-House
June 23 2010 - 1:22PM
Business Wire
Perry Ellis International (NASDAQ:PERY) and Westport Corporation
announced today that they have agreed to not renew their license
agreement for men’s accessories including wallets, bags, and gift
sets under the Perry Ellis family of brands. The license agreement
expires December 31, 2010. Westport will continue to manufacture
and distribute accessories for Perry Ellis International until
then. Effective January 1, 2011, Perry Ellis International will
take over all aspects of its accessories business.
“Westport has been a solid partner for Perry Ellis International
over the years, and we would like to thank them for the hard work,
dedication, and expertise in producing our accessories under the
Perry Ellis family of brands,” commented George Feldenkreis,
Chairman and CEO of Perry Ellis International.
“We have built a strong accessories team, and have established a
core competency in men’s leather products across numerous brands
and channels of distribution. By bringing this business in-house we
believe that we can further optimize these businesses as well as
take advantage of cross-selling opportunities across other product
categories and brands within our current portfolio,” continued Mr.
Feldenkreis.
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®, Centro®, Solero®,
Munsingwear®, Savane®, Original Penguin® by Munsingwear®, Grand
Slam®, Natural Issue®, Pro Player®, the Havanera Co.®, Axis®,
Tricots St. Raphael®, Gotcha®, Girl Star®, MCD® John Henry®, Mondo
di Marco®, Redsand®, Manhattan®, Axist® and Farah®. The Company
enhances its roster of brands by licensing trademarks from third
parties including Pierre Cardin® for men’s sportswear, Nike® and
Jag® for swimwear, and Callaway Golf®, TOP-FLITE®, PGA TOUR® and
Champions Tour® 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," "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, trade names 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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