G-III Apparel Group Announces License for G.H. Bass Men's Sportswear
G-III Apparel Group, Ltd. (NASDAQ: GIII) announced today that it has entered into a multi-year license agreement with PVH Corp. (NYSE: PVH) under which PVH will design, market, and distribute better men's sportswear for G-III's G.H. Bass & Co. brand, primarily for department store customers throughout North America. The collection will launch for Fall 2014.
Morris Goldfarb, Chairman, Chief Executive Officer and President of G-III, commented, “We are excited with our partnership with PVH. They have market-leading expertise in men's sportswear, deep knowledge and experience with respect to the G.H. Bass brand, and excellent customer relationships with department stores. We believe a strong men's sportswear line will support our efforts as we reposition the brand to embrace its casual, outdoor inspired identity.”
Geoff Barrett, President National Brand Sportswear at PVH, commented, “We look forward to continuing to build the G.H. Bass brand with our partners at G-III in order to fully realize the potential of the men's sportswear opportunity at department stores in North America.”
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, our own brands and private label brands. G-III sells swimwear, resort wear and related accessories under our own Vilebrequin brand. G-III also sells outerwear, dresses, performance wear and handbags under our 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, Kenneth Cole, Cole Haan, Guess?, Tommy Hilfiger, Jones New York, Jessica Simpson, Vince Camuto, Ivanka Trump, Nine West, Ellen Tracy, Kensie, Mac & Jac, Levi's and Dockers brands. Through our team sports business, we have 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 Bass, G.H. Bass, G-III Sports by Carl Banks, Eliza J, Black Rivet, Jessica Howard and Winlit. G-III also operates retail stores under the Wilsons Leather, Bass, G.H. Bass & Co., Vilebrequin, Calvin Klein Performance and Andrew Marc names.
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.
Neal Nackman, Chief Financial Officer, (212) 403-0500
James R. Palczynski, (203) 682-8229