PVH Corp. and G-III Apparel Group, Ltd. Announce Licensing Agreement for Tommy Hilfiger Women’s Clothing Collections in US and Canada


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NEW YORK–(COMMERCIAL THREAD) – PVH Corp. [NYSE:PVH] and G-III Apparel Group, Ltd. [NASDAQ:G-III], today announced that Tommy Hilfiger Licensing LLC, a wholly owned subsidiary of PVH, and G-III have entered into a multi-year license agreement for the design, production and distribution of Tommy Hilfiger women’s clothing collections in the United States and Canada, which includes PVH’s current women’s sportswear business and additional categories to be licensed, including suit, performance and denim. These categories are in addition to dresses, men’s and women’s outerwear, and luggage, which are already G-III licensed by Tommy Hilfiger. Macy’s will continue to be the leading retailer of Tommy Hilfiger in the United States, and men’s and women’s sportswear will continue to be an exclusive Macy’s offering.

The partnership will support PVH’s strategy to generate the long-term potential of the women’s clothing business Tommy Hilfiger, in particular by focusing more on maximizing its opportunities in North America by leveraging the expertise of G-III for category and market. The first offerings of the categories added under the new license are expected to launch for the 2016 holiday season. The license agreement has an initial term of five years and a renewal term of four years.

Emanuel Chirico, President and CEO of PVH Corp., said: “G-III is a long-term strategic partner for our Calvin klein collections of womenswear and has done a wonderful job growing our entire Calvin Klein womens business in North America. An expanded partnership with G-III represents a significant opportunity to leverage their market expertise to drive the continued expansion of the Tommy Hilfiger categories of women’s clothing.

Morris Goldfarb, Chairman, CEO and President of G-III, said: “We have already developed a strong working relationship with Tommy Hilfiger and our strategic partnership with PVH is even more powerful with the addition of this new business. We look forward to the opportunity to build a substantial profitable business for Tommy Hilfiger women’s clothing in the United States and Canada.

Daniel Grieder, CEO of Tommy Hilfiger, commented: “Our women’s collections are a key focus area and a high potential growth category for our brand worldwide. Over the past two decades, we have established a strong and high wholesale presence in Europe and Asia. We are confident that a partnership with G-III will unlock the great potential we see for our women’s collections in the United States and Canada and support our strategy to improve our brand positioning.

About Tommy Hilfiger

With a portfolio of brands that includes Tommy Hilfiger and Jean Hilfiger, Tommy Hilfiger is one of the world’s most recognized fashion designer groups. Its aim is to design and market high quality men’s clothing and sportswear, women’s collectible clothing and sportswear, children’s clothing, denim collections, underwear (including bathrobes, nightwear and loungewear), shoes and accessories. Through selected licensees, Tommy Hilfiger offers complementary lifestyle products such as eyewear, watches, perfumes, sportswear (golf and swimming), socks, small leather goods, household items and luggage. The Jean Hilfiger The product line includes jeans and shoes for men and women, accessories and perfumes. Merchandise under the Tommy Hilfiger and Jean Hilfiger brands is available to consumers around the world through an extensive network of Tommy Hilfiger and Jean Hilfiger retail stores, specialty department stores and department stores, some online and online retailers Tommy.com.

About PVH

PVH Corp., one of the world’s largest clothing companies, owns and markets the iconic Calvin klein and Tommy Hilfiger brands around the world. It is the largest shirt and tie company in the world and markets a variety of products under its own brands, Van Heusen,
Calvin klein
, Tommy Hilfiger, IZOD, THE ARROW,
Warner
and Olga, and its licensed brands, including Speedo,
Geoffrey beene
, Kenneth Cole New York, Kenneth Cole’s reaction, MICHAEL Michael Kors, Jean-Jean and Chaps.

About G-III Apparel Group, Ltd.

G-III is one of the leading manufacturers and distributors of Outerwear, Dresses, Sportswear, Swimwear, Women Suits and Performance Clothing for Women, as well as Footwear, Luggage and women’s handbags, small leather goods and cold weather accessories, under licensed brands, own brands and private labels. G-III sells swimwear, resort wear and related accessories under its own Vilebrequin brand. G-III also sells outerwear, dresses and performance clothing under its own brands Andrew Marc and Marc New York and has authorized these brands to select third parties in certain product categories. G-III has fashion licenses under the brands 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 . Through its team sports activities, G-III is licensed with the National Football League, National Basketball Association, Major League Baseball, National Hockey League, Touch by Alyssa Milano and over 100 US colleges and universities. Other brands owned by G-III include Bass, GH Bass, G-III Sports by Carl Banks, Eliza J, Black Rivet and Jessica Howard. G-III also operates retail stores under the names Wilsons Leather, Bass, GH Bass & Co., Vilebrequin and Calvin Klein Performance.

SAFE HARBOR STATEMENT BY PVH CORP. UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: Forward-looking statements contained in this press release, including, without limitation, statements relating to the future plans, strategies, objectives, expectations and intentions of PVH Corp. , are made in accordance with 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 precision, and some of which might not be anticipated, including, without limitation: (i) the plans, strategies, objectives, expectations and intentions of the Company are subject to change at any time at the discretion of the Company; (ii) the sales levels of the Company’s licensees at wholesale and retail, and the extent of discounts and promotional prices to which the Company’s licensees and other business partners are required to undertake , all of which can be affected by weather conditions, changes in the economy, fuel prices, travel cuts, fashion trends, consolidations, repositionings and bankruptcies in the retail sectors , and other factors; (iii) civil conflicts, wars or terrorist acts, the threat of all of the foregoing, or political and professional instability in any of the countries where the products of the Company’s licensees or other partners commercials are sold, manufactured or are intended to be sold or produced; (iv) epidemics of disease and health problems, which could lead to the closure of factories, a reduction in the workforce, a shortage of raw materials and a scrutiny or embargo on goods produced in the infected areas, as well as a reduction in traffic and consumer shopping, as consumers fall ill or limit or stop shopping in order to avoid exposure; (v) failure of the Company’s licensees to successfully market licensed products or 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 documents filed by the Company with the Security and Exchange Commission.

The Company assumes no obligation to publicly update any forward-looking statement, whether upon receipt of new information, future events or otherwise.

SAFE HARBOR STATEMENT OF G-III APPAREL GROUP, LTD. UNDER THE PRIVATE SECURITIES DISPUTES REFORM ACT 1995: Statements regarding G-III’s business prospects or future economic performance, expected income, expenses or other financial items; product introductions and related plans and targets; and statements regarding assumptions made or expectations regarding future events, conditions, performance or other matters are “forward-looking statements” as such term is defined in federal securities laws. Forward-looking statements are subject to risks, uncertainties and factors which include, without limitation, reliance on a licensed product, reliance on foreign manufacturers, risks of making foreign business, the current economic and credit environment, the nature of the apparel industry, including changing customer demand and tastes, customer concentration, seasonality, risks related to operating a retail business, customer acceptance of new products, impact of products and competitive prices, reliance on existing management, possible disruption due to acquisitions and general economic conditions, as well as other risks detailed in the documents filed by G-III with the Securities and Exchange Commission. G-III assumes no obligation to update the information contained in this press release.

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