Press release from Business Wire
PVH CORP. Announces License Agreement with Axis Golf Pty. Limited for IZOD Brand
Monday, January 06, 2014
PVH CORP. Announces License Agreement with Axis Golf Pty. Limited for IZOD Brand16:09 EST Monday, January 06, 2014
NEW YORK (Business Wire) -- PVH Corp. (NYSE:PVH) announced that it had entered into a license agreement with Axis Golf Pty. Limited under which Axis Golf will market and distribute men's sportswear, golf apparel and related accessories under the IZOD brand in Australia, New Zealand, Fiji, and other South Pacific islands. The initial term of the license agreement runs through December 2018.
IZOD products will be sold at Golf World and Golf Mart, two golf retail store chains owned by an affiliate of Axis Golf and into selected golf retail, sports retail, department stores and IZOD stores to be operated by Axis Golf. The license permits Axis Golf to manufacture, market and distribute IZOD dress shirts, neckwear, and underwear, in addition to the categories mentioned above, and distribute belts, headwear, watches, umbrellas and flip flops purchased from other licensees of IZOD across the region.
“We are thrilled to have found the right partner to manage the expansion of the IZOD brand into Australia, New Zealand, Fiji and other key South Pacific islands,” said Ken Wyse, President of Licensing for PVH Corp. “Axis Golf Pty. Limited is a proven leader with extensive knowledge and expertise in men's apparel and accessories, both in the wholesale and retail channels and we look forward to jointly building a successful partnership in the South Pacific.”
“We are elated about our strategic partnership with PVH for the IZOD brand in the South Pacific,” said Denis Brosnan, Managing Director of Axis Golf Pty. Limited. “IZOD is an iconic American brand with a colorful, sporty image and a solid reputation for delivering fashion and value to consumers worldwide. The versatility of the product line allows for distribution in the sports, lifestyle and leisurewear segments.”
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, 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, Donald J. Trump Signature Collection, JOE Joseph Abboud, DKNY, Ike Behar and John Varvatos.
About Axis Golf Pty. Limited
Axis Golf Pty. Limited is a subsidiary of The Brosnan Group. Commencing in 1968, The Brosnan Group has grown to be one of Australia's foremost sports and leisure apparel companies, having distributed global brands such as Fila, La Mode, Dache, Callaway, Nike and Adams Golf in the South Pacific. The Brosnan Group recently entered the golf services channel with www.greatgrounds.com and also operates the Golf World and Golf Mart retail outlets, which form the largest company-owned golf retail chains in Australia.
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