NEW YORK, Nov 02, 2011 -- Broad License Includes Women's Sportswear, Dresses, Suits, Activewear and Sweaters --
G-III Apparel Group, Ltd. (Nasdaq:GIII) today announced that it has entered into a license agreement with KMJ Brand Holdings, LLC, an affiliate of Bluestar Alliance, LLC, to develop sportswear, dresses, tailored clothing, activewear and sweaters under the Kensie brand for the U.S. and Canadian markets. Kensie, distributed primarily through department stores and better specialty stores, is a fashionable, edgy, and elegant contemporary brand aimed at modern young women.
The Company expects to begin shipping sportswear in the first quarter of 2012 and to follow with the launch of additional categories. The terms of the deal were not disclosed.
Morris Goldfarb, G-III's Chairman and Chief Executive Officer, commented, "We are very pleased to welcome Kensie as our newest partner. We believe this contemporary, sophisticated brand presents a growth opportunity across a number of important categories. With our wide range of resources, we are confident that we can grow Kensie into a meaningful brand for us and our retail customers."
Joseph Gabbay, Chief Executive Officer of Bluestar Alliance, LLC commented, "This is an important development for our company, and we are excited about the long-term growth potential this partnership represents. Partnering with G-III was an obvious step towards solidifying our goal of building Kensie into an important global brand and business."
Eric Karls, President of Kensie, and Lani Karls, Creative Director of Kensie, will both join G-III to continue their direction of the brand. Mr. Karls stated, "Our mission is to develop Kensie into a leading, global contemporary brand. We believe the combination of our brand management and understanding of the contemporary market and customer with G-III's comprehensive production, sales and distribution capabilities in each of the major product categories will be formidable. We are excited to become part of the G-III organization and to have this exceptional opportunity to continue to expand the Kensie brand and business."
About G-III Apparel Group, Ltd.
G-III is a leading manufacturer and distributor of outerwear, dresses, sportswear and women's suits, as well as handbags and luggage, under licensed brands, our own brands and private label brands. G-III sells outerwear and dresses under our own Andrew Marc, Marc New York and Marc Moto brands and has licensed these brands to select third parties in certain product categories. G-III has fashion licenses under the Calvin Klein, Sean John, Kenneth Cole, Cole Haan, Guess?, Jones New York, Jessica Simpson, Vince Camuto, Nine West, Ellen Tracy, Tommy Hilfiger, Kensie, 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. Our other owned brands include Jessica Howard, Eliza J, Black Rivet, G-III, G-III Sports by Carl Banks and Winlit. G-III also operates retail outlet stores under our Wilsons Leather name and is a party to a joint venture that operates retail outlet stores under the Vince Camuto name.
About KMJ Brand Holdings
Bluestar Alliance, LLC owns, manages and markets a growing portfolio of consumer brands including Kensie, Liz Lange Maternity(R) English Laundry(R), Hot Kiss(R), First Kiss(R), Harve Benard(R) and Completely Me(R). Bluestar licenses its brands to a network of best in class manufacturers and retailers both in the U.S. and internationally.
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.