Perry Ellis International Extends License Agreement for Nike Swim
October 12 2010 - 9:30AM
Business Wire
Perry Ellis International (NASDAQ:PERY) announced today the
extension of its license agreement with Nike, Inc. in which Perry
Ellis will continue to design, produce, manufacture and distribute
men’s, women’s and children’s swimwear, performance and casual
swimwear products, select apparel and swim equipment within North
America under the Nike Swim brand through 2014.
“We are extremely pleased to announce today the extension of our
agreement and partnership with Nike. This extension provides us
with a platform for long-term growth with one of the world’s most
recognized brands and helps to further strengthen our relationships
with retail partners,” commented Oscar Feldenkreis, President and
Chief Operating Officer of Perry Ellis International. “We will
continue to leverage our expertise and strong distribution with our
other swim brands to ensure that Nike Swim reaches it full
potential.”
Perry Ellis International will maintain distribution through its
current account base of sporting goods stores, department stores
and specialty swim accounts, while also focusing on growing its
accessory and team sales business by adding on additional school
and aquatic club programs. Today, Perry Ellis distributes Nike Swim
product into over 4,000 domestic points of retail distribution.
About Perry Ellis International
Perry Ellis International, Inc. is a leading designer,
distributor and licensor of a broad line of high quality men's,
women's and children’s apparel, accessories and fragrances. The
Company's collection of dress and casual shirts, golf sportswear,
sweaters, dress pants, 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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