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Press release from Business Wire

PVH Corp. Announces License Agreement with Stepping Stones for Infant Hosiery and Legwear for IZOD Brand

Thursday, January 17, 2013

PVH Corp. Announces License Agreement with Stepping Stones for Infant Hosiery and Legwear for IZOD Brand16:10 EST Thursday, January 17, 2013 NEW YORK (Business Wire) -- PVH Corp. (NYSE: PVH) and Bon Bini, LLC dba Stepping Stones have entered into a license agreement under which Stepping Stones will market and distribute newborn, infant, and toddler hosiery and legwear under the IZOD brand. The license agreement runs through 2015 and provides for renewal at PVH's option. Under the agreement, Stepping Stones will produce IZOD legwear and dress, casual, and sport hosiery for newborns, infants and toddlers. The product will be distributed at department and specialty stores in the United States and Canada. “As we continue to look for growth areas for our IZOD brand, we thought the brand's colorful and fun image would translate well to hosiery for infants and toddlers,” said Ken Wyse, President of Licensing for PVH Corp. “Stepping Stones has extensive knowledge and experience in this product category and we look forward to having them as a partner.” “Stepping Stones is proud to partner with PVH Corp. for the IZOD infant/toddler hosiery license. As a brand that is known for its emphasis on color and fun and its youthful and active spirit, we think IZOD infant hosiery and legwear will appeal to young parents and their ever-active lives,” says Jack Mehani, President of Stepping Stones. About PVH Corp. 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. About Bon Bini, LLC/Stepping Stones: Stepping Stones is a strong, new player in the infant and newborn hosiery and footwear category. The company emphasizes the importance of fashion in a category known for basics. Stepping Stones is a licensee for Vitamins Baby, Flap Doodles, Gerber and Akademiks. 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. PVH Corp.Investors:Dana Perlman, 212-381-3502Treasurer, SVP - Business Development and Investor RelationsorLicensing:Ken Wyse, 212-381-3628President, LicensingorMedia:Jason Colin, 212-381-3937Director of Communications