Press release from Business Wire
PVH Corp. Announces License Agreement with American Essentials for Hosiery and Legwear for IZOD Brand
Thursday, January 17, 2013
NEW YORK (Business Wire) -- PVH Corp. (NYSE: PVH) has licensed American Essentials Inc. and its parent company McGregor Industries Inc. to market and distribute men's, women's and children's hosiery and legwear under the IZOD brand. The initial term of the license agreement runs through 2017 and provides for a three-year renewal at PVH's option.
Under the license, McGregor Industries will produce dress, casual, and sport hosiery and legwear for men, women, and children. The product will be distributed by American Essentials and McGregor Industries at major department and specialty stores throughout the United States, Canada and Mexico.
“As we continue to expand our IZOD product offering, we believe American Essentials and McGregor Industries are the right partners to introduce our new hosiery and legwear line in North America,” said Ken Wyse, President of Licensing for PVH Corp.
“We think this is a wonderful opportunity to continue to grow our partnership with PVH Corp.,” said Jordan Lipson, President and CEO, American Essentials Inc. “IZOD is an iconic All-American brand with a long heritage and we are thrilled to bring an exciting new line of IZOD socks and legwear to the marketplace.”
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 American Essentials
American Essentials Inc., a wholly own subsidiary of McGregor Industries Inc., is a global leader in the better socks and legwear category with distribution in over 65 countries. The company designs and markets a wide variety of socks and legwear under its own McGregor and American Essentials brands. American Essentials licenses prestigious brands including Calvin Klein Collection, ck Calvin Klein, Calvin Klein, Tommy Hilfiger, IZOD, Reebok and Chaps.
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.
Dana Perlman, 212-381-3502
Treasurer, SVP - Business Development and Investor Relations
Ken Wyse, 212-381-3628
Jason Colin, 212-381-3937
Director of Communications