Nautica Enterprises, Inc., (Nasdaq: NAUT), today announced that its licensing subsidiary, Nautica Apparel, Inc., has signed a multi year license agreement with The Warnaco Group, Inc.,
(Nasdaq: WNRC), to manufacture, distribute and market the Company's existing Nautica Women's Collection Swimsuits, Collection Separates Swimsuits and Nautica Blue Swimsuits for juniors. Also under the agreement, an expanded assortment of new products will be launched including, Nautica Beachwear, Nautica Signature, Nautica Girl as well as Nautica Swimwear Accessories. Warnaco's first introduction will be the Cruise 2004 collection, to be shown in July 2003. Financial terms of the agreement were not disclosed.
Christopher Heyn, President of Nautica Apparel, Inc., commented, ''We are extremely pleased to be partnering with an industry leader like Warnaco and are confident that they will continue to build upon the foundation of our successful swimwear business. Also, they share our passion for exploring the enormous untapped growth opportunities in the swimwear category. This is evidenced by our strategy to expand the Nautica brand concept by adding new products for her swim, beach and vacation lifestyle.''
Roger Williams, President of Warnaco's Swimwear Group, said, ''We are delighted to enter into this license agreement with Nautica. Nautica is among the most prestigious and recognized brand names in swimwear and we are excited to produce and distribute their products and work with them on expanding their offerings.''
Tony Alvarez, Warnaco's President and CEO, commented, ''We are proud to add Nautica to our portfolio of leading swimwear brands. The agreement underscores Warnaco's commitment to expanding its business by capitalizing on its core competencies and working with the best brands in the marketplace.''
Nautica Enterprises, Inc., (Nasdaq: NAUT), through its subsidiaries, designs, sources, markets and distributes apparel under the following
brands: Nautica; Nautica Competition; Nautica Jeans Company; Earl Jean; John Varvatos; E. Magrath; and Byron Nelson.
The Warnaco Group, Inc., headquartered in New York, is a leading manufacturer of intimate apparel, menswear, jeanswear, swimwear, men's and women's sportswear, better dresses, fragrances and accessories sold under such owned and licensed brands as Warner's(R), Olga(R), Lejaby(R), Body by Nancy Ganz(R), Chaps by Ralph Lauren(R), Calvin
Klein(R) men's and women's underwear, men's accessories, and men's, women's, junior women's and children's jeans, Speedo(R)/Authentic
Fitness(R) men's, women's and children's swimwear, sportswear and swimwear accessories, Polo by Ralph Lauren(R) women's and girls' swimwear, Anne Cole Collection(R), Cole of California(R) and
Catalina(R) swimwear, and A.B.S. (R) Women's sportswear and better dresses.
