G-III Apparel Group, Ltd. Announces Andrew Marc Shoe License
NEW YORK--G-III Apparel Group, Ltd. (NasdaqGSM: GIII) today announced that it has executed its first license for the Andrew Marc brand. G-III and Camuto Group, headed by Vince Camuto, have entered into a license agreement through January 31, 2013 for Camuto Group to design, market, and distribute women’s footwear under the Andrew Marc and Marc New York brand names. It is expected that product will begin distribution for the Fall 2009 season. Terms of the license were not disclosed.
Morris Goldfarb, G-III’s Chairman and Chief Executive Officer, said, “We are excited to begin the broader development of the Andrew Marc and Marc New York branded businesses, which hold an excellent position in upscale specialty retailers and department stores. We believe that the contemporary aesthetic and high-fashion identity of these brands can quickly and decisively transcend their roots from the outerwear market. We could not have found a better partner for this important category than Vince Camuto and his organization. He has demonstrated time and again that he is a true visionary in the footwear industry.”
Vince Camuto, Chief Executive Officer of Camuto Group, commented, “The opportunity to add Andrew Marc and Marc New York collections to the incredible stable of Camuto Group brands is the perfect compliment to our existing success and growth in the market place. We are excited to translate that strong contemporary fashion viewpoint for the women’s footwear market and look forward to a long, profitable relationship with G-III.”
About G-III Apparel Group, Ltd.
G-III Apparel Group, Ltd. is a leading manufacturer and distributor of outerwear and sportswear under licensed brands, private labels and our own brands. The Company has fashion licenses, among others, under the Calvin Klein, Kenneth Cole, Sean John, Cole Haan, Guess?, Jones New York, Nine West, Ellen Tracy, House of Dereon, IZOD, Tommy Hilfiger, Levi’s and Dockers brands and sports licenses with the National Football League, National Basketball Association, Major League Baseball, National Hockey League, Touch by Alyssa Milano and more than 100 U.S. colleges and universities. G-III works with leading retailers in developing product lines to be sold under its own proprietary private labels. Company-owned brands include, among others, Andrew Marc, Marc New York, Marvin Richards, G-III, Jessica Howard, Eliza J., Industrial Cotton, Black Rivet, Siena Studio, Colebrook, G-III by Carl Banks, Winlit, NY 10018 and La Nouvelle Renaissance.
About Camuto Group
The Camuto Group is a leading organization for design, development and distribution of women’s fashion footwear and is renowned for its ability to build women’s lifestyle brands on a global scale. Camuto Group products are sold in over 5400 doors worldwide. The Camuto Group is the owner of the Vince Camuto and Arturo Chiang brands and is the master licensee for the Jessica Simpson collection. The company also develops and manages the Antonio Melani® and Gianni Bini® brands, and holds the footwear license for BCBGirls®, BCBG Max Azria® and Nicole Miller®. The Camuto Group also has partnerships with Development by Erica Davies and Sanctuary.
Safe Harbor Language
Statements concerning G-III’s business outlook or future economic performance, anticipated revenues, expenses or other financial items; product introductions and plans and objectives related thereto; and statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters are “forward-looking statements” as that term is defined under the Federal Securities laws. Forward-looking statements are subject to risks, uncertainties and factors which include, but are not limited to, reliance on licensed product, reliance on foreign manufacturers, the nature of the apparel industry, including changing customer demand and tastes, customer concentration, seasonality, customer acceptance of new products, the impact of competitive products and pricing, dependence on existing management, possible disruption from acquisitions and general economic conditions, as well as other risks detailed in G-III’s filings with the Securities and Exchange Commission. G-III assumes no obligation to update the information in this release.
Contacts: For: G-III Apparel Group, Ltd. Investor Relations James Palczynski, 203-682-8229 or G-III Apparel Group, Ltd. Wayne S. Miller, 212-403-0500 Chief Operating Officer or Camuto Group Lisa Mitchell, 646-898-1027 Director of Public Relations