NEW YORK, Dec 07, 2011 -- G-III Apparel Group, Ltd. (nasdaqgs:GIII) today announced that it has entered into a retail store agreement with Calvin Klein, Inc., a wholly owned subsidiary of PVH Corp., to open Calvin Klein Performance stores and shop in shops for the sale of women's Calvin Klein Performance apparel in the United States and China. G-III also has rights to expand to additional countries throughout the world. Terms of the deal were not disclosed. G-III noted that this retail store license is in addition to the women's wholesale Calvin Klein Performance license that it entered into in 2007.
The product offering will continue to be athletic and performance wear that utilizes materials and designs that enhance the lifestyle associated with women's sports and activities, including yoga, running, tennis, and biking. The line features items rendered in authentic performance fabrics and is finished with detailing appropriate for each of those classifications. The products to be offered in the retail stores will include pants, capris, shorts, tank tops, t shirts, and hooded jackets.
Morris Goldfarb, Chairman and Chief Executive Officer of G-III Apparel Group, commented, "We believe that there is an excellent opportunity to leverage the power and recognition of the Calvin Klein brand to bring the performance line to a global audience of consumers. Initially, we will launch in the United States and China. We are very excited about the potential to roll these stores out in countries around the world."
Tom Murry, President and Chief Executive Officer of Calvin Klein, Inc. stated, "G-III has shown repeatedly that they understand our consumer and can steward the brand across a number of important categories. We are excited to see them build upon the work they have done in the United States to further expand Calvin Klein Performance at retail both in the United States and China."
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.
Calvin Klein, Inc. is one of the leading fashion design and marketing studios in the world. It designs and markets women's and men's designer collection apparel and a range of other products that are manufactured and marketed through an extensive network of licensing agreements and other arrangements worldwide. Brands/lifestyles include Calvin Klein Collection, ck Calvin Klein, Calvin Klein, Calvin Klein Jeans and Calvin Klein Underwear. Product lines under the various Calvin Klein brands include women's dresses and suits, men's dress furnishings and tailored clothing, men's and women's sportswear and bridge and collection apparel, golf apparel, jeanswear, underwear, fragrances, eyewear, women's performance apparel, hosiery, socks, footwear, swimwear, jewelry, watches, outerwear, handbags, small leather goods, and home furnishings (including furniture). For more information, please visit calvinklein.com.
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, Bass and G.H. Bass & Co., and its licensed brands, including Geoffrey Beene, Kenneth Cole New York, Kenneth Cole Reaction, MICHAEL Michael Kors, Sean John, Chaps, Donald J. Trump Signature Collection, JOE Joseph Abboud, DKNY, Ike Behar and John Varvatos. For more information, please visit pvh.com.
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 crisis, 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.
SOURCE: G-III Apparel Group, Ltd.