PEI Licensing, Inc. Announces Agreement with Nostalgia Home Fashions for Laundry by Shelli Segal® Bedding

PEI Licensing, Inc. a wholly owned subsidiary of Perry Ellis International (NASDAQ:PERY) announced today that it has entered into an exclusive license agreement with Nostalgia Home Fashions, Inc to manufacture, design and distribute home textile products under the Laundry by Shelli Segal® brand name. Under the agreement, Nostalgia will produce comforters, duvet covers, quilts, and related accessories. Product will launch and begin to hit the selling floor by the end of July 2011.

“Nostalgia Home Fashions is thrilled to partner with PEI on the Laundry by Shelli Segal brand within this category. The combination of the Laundry’s tasteful contemporary design, sensibility, and Nostalgia’s use of handmade production techniques will offer the consumer truly differentiated decorating options,” commented Evan Melnick, Vice President of Merchandising and Business Development for Nostalgia Home Fashions, Inc.

Nostalgia Home Fashions, Inc. was founded in Chicago, IL in 1983 and has evolved into a leader in the handmade home textile industry and currently operates an established production base in China, employing more than 1,500 experienced handcrafters. “We are very excited to partner with Nostalgia Home Fashions and benefit from their vast experience in the home textile industry,” stated Oscar Feldenkreis, President & Chief Operating Officer of parent company, Perry Ellis International.

About Laundry by Shelli Segal®

Established in 1988, Laundry by Shelli Segal® is a leading producer of women’s day and evening dresses. The dresses are a reflection of the “LA Girl” – feminine and contemporary with an energetic and free-spirited attitude, always craving the next fashion statement. Every season, Laundry by Shelli Segal interprets the latest trends, adding unique styling that creates a signature look. The label is featured regularly in national publications including InStyle, Lucky, Glamour, Elle, Teen Vogue, Us Weekly and InTouch, and is sought after by fashionistas and Hollywood A-listers alike.

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, as well as select children’s apparel. The Company's collection of dress and casual shirts, golf sportswear, sweaters, dress pants, casual pants and shorts, jeans wear, active wear, dresses 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®, Rafaella®, 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®, Farah®, Anchor Blue® and Miller’s Outpost®. 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.

About Nostalgia Home Fashions

At Nostalgia’s core is an internationally diverse team of people working as one to design, manufacture and market the finest quality handmade quilted bedding products available for the home today. Nostalgia prides itself on developing solid business partnerships with customers and leading Brands, delivering to them - and ultimately the consumer, exceptional value through the company’s unique vertical integration process. Extensive industry expertise, product leadership and superior execution enable the company to drive new business and growth opportunities for our customers.

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," "believe," "budget," "contemplate," "continue," "could," "estimate," "expect," "guidance," "indicate," "intend," "may," "might," "plan," "possibly," "potential," "predict," "probably," "proforma," "project," "seek," "should," "target," 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, recent and future economic conditions, including turmoil in the financial and credit markets, 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 protect our trademarks, 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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