Perry Ellis International, Inc. (NASDAQ: PERY) (“the Company”)
announced today that it has completed the purchase of all
intellectual property assets of Anchor Blue, Inc.
The Company made a successful $500,000 bid in a March 3rd, 2011
auction for the Anchor Blue and Miller’s Outpost trademarks, and
all other intellectual property holdings associated with Anchor
Blue, Inc. The intellectual property assets were purchased free and
clear or any liens, claims or encumbrances. The transaction was
approved by the bankruptcy court in the state of Delaware and
closed on March 11, 2011.
“As the Anchor Blue name continues to have a loyal consumer
following, especially within the denim category we feel the benefit
of adding these brands to our current portfolio is two fold. First,
it will allow us to further develop our current denim business
across all brands and second, as Anchor Blue continues to be very
well known along the West Coast and among the younger Hispanic
community, we feel it will allow us to continue developing our
connection to a younger demographic.” commented Oscar Feldenkreis,
President and Chief Operating Officer of Perry Ellis
International.
Anchor Blue, Inc. was a Corona, CA based specialty retailer of
casual apparel and accessories for the teenage market. As of
December 31, 2010 the company operated 115 stores primarily located
along the West Coast. After what was a series of operational
challenges and a difficult 2010 holiday season for the company, it
liquidated all of its inventory, and on January 11, 2011 filed for
bankruptcy protection under Chapter 11 with the bankruptcy court of
Delaware.
Streambank, LLC of Needham, MA served as an advisor to Anchor
Blue, Inc. in connection with the auction of all Intellectual
property rights of the company.
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 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®, Havanera Co.®, Axis®, Tricots
St. Raphael®, Gotcha®, Girl Star®, MCD®, John Henry®, Mondo di
Marco®, Redsand®, Manhattan®, Axist®, Farah® and Rafaella®. 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®, 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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