The Warnaco Group, Inc. today announced that it has appointed Sheree Waterson as the new President of Speedo North America, a division of Warnaco Swimwear Inc. Ms. Waterson will oversee all aspects of Speedo's design, development, merchandising, marketing and sales.
A 25-year veteran of the retail and wholesale apparel industries, Ms. Waterson brings extensive experience in product development and brand management. Most recently, she served as Vice President of Women's Apparel at Levi Strauss.
Before joining Levi Strauss, Ms. Waterson held senior level management positions at Wet Seal, Contempo Casuals, and Mervyn's. Ms. Waterson holds a B.A. in Psychology from the University of California, Berkeley.
“Sheree's merchandising and brand management skills will be tremendous assets to the Speedo brand and we look forward to her leadership,” said Kathy Van Ness, Executive Vice President Warnaco Swimwear Inc.
Further, President of Warnaco Swimwear Inc., Roger Williams said, “The Speedo brand is one of the world's few true sports lifestyle brands. Our growth plans for Speedo in North America are aggressive and Sheree is the perfect candidate to head this task.”
Commenting on today's announcement, Ms. Waterson said, “Speedo is a brand with great market penetration and brand recognition. This is a unique opportunity and challenge that I embrace with great passion.”
SPEEDO(R) and the Boomerang Device are registered trademarks of and used under license from SPEEDO International Ltd.
Warnaco Swimwear Inc., a division of The Warnaco Group Inc. (Nasdaq: WRNC – News), is the authorized licensee of the Speedo trademark in North America and the Caribbean.
About SPEEDO(R)
Born on Bondi Beach near Sydney, Australia in 1928, SPEEDO(R) is the world's top-selling swimwear brand. The brand's heritage derives from its leadership in competitive swimming, where more Olympic Gold Medals have been won in Speedo than any other brand. Eight-time Olympic Medalist Michael Phelps is among the elite swimmers who wear SPEEDO(R) Fastskina technology. Building on its authentic base, the SPEEDO(R) product line has dramatically expanded over the years. It now includes women's fashion and fitness swimwear, men's water shorts, kid's swimwear, active wear, footwear, and a comprehensive collection of aquatic and fitness equipment. For more information visit, http://www.SpeedoUSA.com.
About The Warnaco Group, Inc.
The Warnaco Group, Inc., headquartered in New York, is a leading apparel company engaged in the business of designing, marketing and selling intimate apparel, menswear, jeanswear, swimwear, men's and women's sportswear and accessories under such owned and licensed brands as Warner's(R), Olga(R), Lejaby(R), Body Nancy Ganz(tm), Speedo(R), Anne Cole Collection(R), Ocean Pacific(R), Cole of California(R) and Catalina(R) as well as Chaps(R) sportswear and denim, JLO by Jennifer Lopez(R) lingerie, Nautica(R) swimwear, Michael Kors(R) swimwear and Calvin Klein(R) men's and women's underwear, men's accessories, men's, women's, junior women's and children's jeans and women's and juniors swimwear.
FORWARD-LOOKING STATEMENTS
This press release may contain “forward-looking statements” within the meaning of Rule 3b-6 under the Securities Exchange Act of 1934, as amended, Rule 175 under the Securities Act of 1933, as amended, and relevant legal decisions. The forward-looking statements reflect, when made, the Company's expectations or beliefs concerning future events that involve risks and uncertainties, including general economic conditions affecting the apparel industry, changing fashion trends, pricing pressures which may cause the Company to lower its prices, increases in the prices of raw materials the Company uses, changing international trade regulation and elimination of quotas on imports of textiles and apparel, the Company's history of losses, the Company's ability to protect its intellectual property rights, the Company's dependency on a limited number of customers, the Company's dependency on the reputation of its brand names, the Company's exposure to conditions in overseas markets, the competition in the Company's markets, the comparability of financial statements for periods before and after the Company's adoption of fresh start accounting, the Company's history of insufficient disclosure controls and procedures and internal controls and restated financial statements, the Company's future plans concerning guidance regarding its results of operations, the effect of the settlement with the SEC, the effect of local laws and regulations, shortages of supply of sourced goods or interruptions in the Company's manufacturing, the Company's level of debt, the Company's ability to obtain additional financing, the restrictions on the Company's operations imposed by its revolving credit facility and the indenture governing the senior notes and the Company's ability to service its debt. All statements other than statements of historical fact included in this press release are forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements may contain the words “believe,” “anticipate,” “expect,” “estimate,” “project,” “will be,” “will continue,” “will likely result,” or other similar words and phrases. Forward-looking statements and the Company's plans and expectations are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, and the Company's business in general is subject to certain risks that could affect the value of its stock.