NEW YORK--(BUSINESS WIRE)--
PVH Corp. [NYSE: PVH] and G-III Apparel Group, Ltd. [NASDAQ:GIII],
announced today that Tommy Hilfiger Licensing LLC, a wholly owned
subsidiary of PVH, and G-III have entered into a multi-year license
agreement for the design, production and distribution of Tommy
Hilfiger womenswear collections in the United States and Canada,
which includes PVH's current women's sportswear business and additional
categories to be licensed, including suit separates, performance and
denim. These categories are in addition to dresses, men's and women's
outerwear and luggage, which are already licensed to G-III by Tommy
Hilfiger. Macy's will continue to be the principal retailer of Tommy
Hilfiger in the U.S. and men's and women's sportswear will continue
to be a Macy's exclusive offering.
The partnership will support PVH's strategy to drive the long term
potential for the Tommy Hilfiger womenswear business, specifically
through an increased focus on maximizing its North America opportunity
by leveraging G-III's category and market expertise. The first offerings
of the added categories under the new license are expected to be
launched for the 2016 holiday season. The license agreement has an
initial term of five years and a renewal term of four years.
Emanuel Chirico, Chairman and Chief Executive Officer, PVH Corp.,
commented, "G-III is a long-term strategic partner for our Calvin
Klein womenswear collections and has done a tremendous job growing
our overall Calvin Klein women's business in North America. An expanded
partnership with G-III represents a significant opportunity to leverage
their market expertise to drive the continued expansion of the Tommy
Hilfiger women's apparel categories."
Morris Goldfarb, Chairman, Chief Executive Officer and President, G-III,
commented, "We have already developed a strong working relationship with
Tommy Hilfiger and our strategic partnership with PVH is even more
powerful with the addition of this new business. We look forward to the
opportunity to build a substantial profitable business for Tommy
Hilfiger womenswear in the U.S. and Canada."
Daniel Grieder, Chief Executive Officer, Tommy Hilfiger, commented, "Our
women's collections are a key area of focus and a high-potential growth
category for our brand worldwide. Over the past two decades, we have
established a strong and elevated wholesale presence in Europe and Asia.
We are confident that a partnership with G-III will unlock the great
potential we see for our women's collections in the U.S. and Canada and
support our strategy of elevating our brand positioning."
About Tommy Hilfiger
With a brand portfolio that includes Tommy Hilfiger and Hilfiger
Denim, Tommy Hilfiger is one of the world's most recognized premium
designer lifestyle groups. Its focus is designing and marketing
high-quality men's tailored clothing and sportswear, women's collection
apparel and sportswear, kidswear, denim collections, underwear
(including robes, sleepwear and loungewear), footwear and accessories.
Through select licensees, Tommy Hilfiger offers complementary lifestyle
products such as eyewear, watches, fragrance, athletic apparel (golf and
swim), socks, small leather goods, home goods and luggage. The Hilfiger
Denim product line consists of jeanswear and footwear for men and
women, accessories, and fragrance. Merchandise under the Tommy
Hilfiger and Hilfiger Denim brands is available to consumers
worldwide through an extensive network of Tommy Hilfiger and Hilfiger
Denim retail stores, leading specialty and department stores, select
online retailers, and at tommy.com.
About PVH
PVH Corp., one of the world's largest apparel companies, owns and
markets the iconic Calvin Klein and Tommy Hilfiger brands
worldwide. It is the world's largest shirt and neckwear company and
markets a variety of goods under its own brands, Van Heusen,
Calvin Klein, Tommy Hilfiger, IZOD, ARROW,
Warner's and Olga, and its licensed brands, including Speedo,
Geoffrey Beene, Kenneth Cole New York, Kenneth Cole
Reaction, MICHAEL Michael Kors, Sean John and Chaps.
About G-III Apparel Group, Ltd.
G-III is a leading manufacturer and distributor of outerwear, dresses,
sportswear, swimwear, women's suits and women's performance wear, as
well as footwear, luggage and women's handbags, small leather goods and
cold weather accessories, under licensed brands, its own brands and
private label brands. G-III sells swimwear, resort wear and related
accessories under its own Vilebrequin brand. G-III also sells outerwear,
dresses and performance wear under its own Andrew Marc and Marc New York
brands and has licensed these brands to select third parties in certain
product categories. G-III has fashion licenses under the Calvin Klein,
Karl Lagerfeld, Kenneth Cole, Cole Haan, Guess?, Tommy Hilfiger, Jones
New York, Jessica Simpson, Vince Camuto, Ivanka Trump, Ellen Tracy,
Kensie, Levi's and Dockers brands. Through its team sports business,
G-III has 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's other owned brands include Bass, G.H. Bass, G-III Sports by Carl
Banks, Eliza J, Black Rivet and Jessica Howard. G-III also operates
retail stores under the Wilsons Leather, Bass, G.H. Bass & Co.,
Vilebrequin and Calvin Klein Performance names.
SAFE HARBOR STATEMENT OF PVH CORP. UNDER THE PRIVATE SECURITIES
LITIGATION REFORM ACT OF 1995: Forward-looking statements made in this
press release, including, without limitation, statements relating to PVH
Corp.'s future plans, strategies, objectives, expectations and
intentions, are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Investors are
cautioned that such forward-looking statements are inherently subject to
risks and uncertainties, many of which cannot be predicted with
accuracy, and some of which might not be anticipated, including, without
limitation: (i) the Company's plans, strategies, objectives,
expectations and intentions are subject to change at any time at the
discretion of the Company; (ii) the levels of sales of the Company's
licensees at wholesale and retail, and the extent of discounts and
promotional pricing in which the Company's licensees and other business
partners are required to engage, all of which can be affected by weather
conditions, changes in the economy, fuel prices, reductions in travel,
fashion trends, consolidations, repositionings and bankruptcies in the
retail industries, and other factors; (iii) civil conflict, war or
terrorist acts, the threat of any of the foregoing, or political and
labor instability in any of the countries where the Company's licensees'
or other business partners' products are sold, produced or are planned
to be sold or produced; (iv) disease epidemics and health related
concerns, which could result in closed factories, reduced workforces,
scarcity of raw materials and scrutiny or embargoing of goods produced
in infected areas, as well as reduced consumer traffic and purchasing,
as consumers become ill or limit or cease shopping in order to avoid
exposure; (v) the failure of the Company's licensees to market
successfully licensed products or to preserve the value of the Company's
brands, or their misuse of the Company's brands and (vi) other risks and
uncertainties indicated from time to time in the Company's filings with
the Securities and Exchange Commission.
The Company does not undertake any obligation to update publicly any
forward-looking statement, whether as a result of the receipt of new
information, future events or otherwise.
SAFE HARBOR STATEMENT OF G-III APPAREL GROUP, LTD. UNDER THE PRIVATE
SECURITIES LITIGATION REFORM ACT OF 1995: 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, risks of doing business abroad, the current economic and
credit environment, the nature of the apparel industry, including
changing customer demand and tastes, customer concentration,
seasonality, risks of operating a retail business, 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160201006343/en/
PVH Corp.:
Dana Perlman
Treasurer
and Senior Vice President, Business Development & Investor Relations
212-381-3502
investorrelations@pvh.com
or
Tommy
Hilfiger:
Abdel El Hamri
Senior Vice
President, Marketing & Communications, the Americas and SVP, Global
Communications
212-548-1728
Abdel.ElHamri@tommy.com
or
G-III
Apparel Group, Ltd.:
Neal Nackman
Chief
Financial Officer
212-403-0500
or
G-III
Investor Relations - ICR Inc.
James R. Palczynski
203-682-8200
Source: G-III Apparel Group, Ltd.
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