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PVH : Tommy Hilfiger Announces License Agreement with G-III Apparel Group, Ltd. for Women’s Dress Collection

10/02/2015 | 09:01am US/Eastern

Tommy Hilfiger, which is owned by PVH Corp. [NYSE:PVH], and G-III Apparel Group, Ltd. [NasdaqGS:GIII] have entered into a license agreement to introduce a line of women’s dresses inspired by the Tommy Hilfiger brand’s fresh take on classic, American, cool style. Beginning February 2016, the collection will be available at select department stores, including Macy’s, specialty stores, and e-commerce partners in the United States and Canada.

“Our women’s collections are a key area of focus and a high-potential growth category for the brand globally,” said Daniel Grieder, CEO for Tommy Hilfiger. “G-III has been a strong partner with us on outerwear and luggage and is a market leader for women’s apparel in North America with an in-depth understanding of our target customer. We are excited about this opportunity to expand the women’s dress business in the U.S. and Canada through G-III, and we look forward to working together on this new collection.”

Morris Goldfarb, Chairman and Chief Executive Officer of G-III, commented “We are excited to continue to deepen our strategic relationships with both the Tommy Hilfiger organization and PVH. The Tommy Hilfiger brand continues to demonstrate its wide appeal and longevity as a truly iconic American brand. We are pleased to help extend that position and to further leverage the world-class infrastructure and capability we have built for the dress market and to extend our leadership in this important category.”

The new Tommy Hilfiger dress collection is designed to complement the existing Tommy Hilfiger women’s sportswear offerings. The Spring 2016 collection is inspired by iconic American style, with a modern twist featuring the bold use of print and color, and feminine fabrics and finishes. The collection, including dresses and coordinating shrugs and cardigans, will have suggested retail prices from $99 to $149.

The initial term of the agreement is five years with G-III having a right to renew for an additional five-year term subject to achieving certain sales levels.

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, Chaps, and Ike Behar.

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 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, the following: (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 limit or cease shopping in order to avoid exposure or become ill; (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.

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.

© Business Wire 2015
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