G-III Apparel Group, Ltd. today announced that it had entered into a license agreement with Phillips-Van Heusen Corporation to design, market and distribute both men's and women's non-leather outerwear. Deliveries will commence for the Fall 2005 season for men's product and the Holiday 2005 season for women's product. The initial term of the license is for a three-year period ending December 31, 2007, with one five-year renewal option. Additional terms of the license were not disclosed.
Morris Goldfarb, Chairman and Chief Executive Officer of G-III Apparel Group, said, “We are very pleased to begin work on this comprehensive license for IZOD outerwear. We believe that the IZOD brand identity and design aesthetic represent a strong opportunity for us. The line will be inspired by a culture of sport and leisure and the designs will be clean and crisp and offer functional detail and youthful comfort. The business will be targeted to a 25 to 45 year-old consumer with a modern, relaxed attitude toward dressing.”
Mr. Kenneth Wyse, President of Licensing and Public Relations, at Phillips-Van Heusen Corporation, said, “We're pleased to partner with G-III Apparel Group for this category. As a leading outerwear company, G-III joins our efforts to propel IZOD to the front of consumer awareness with exceptional design and quality. We look forward to GIII capitalizing on the strength of the IZOD brand.”
About G-III Apparel Group, Ltd.
G-III Apparel Group, Ltd. is a leading manufacturer and distributor of outerwear and sportswear under licensed labels, our own labels and private labels. The Company has fashion licenses with Kenneth Cole, Nine West, Cole Haan, Jones Apparel, Sean John, Cece Cord, Bill Blass and James Dean and sports licenses with the National Football League, National Basketball Association, Major League Baseball, National Hockey League, Louisville Slugger, NASCAR, World Poker Tour and more than 60 universities nationwide. Company-owned labels include, among others, Black Rivet, Colebrook and Siena Studio.
About Phillips-Van Heusen Corporation
Phillips-Van Heusen Corporation is one of the world's largest apparel companies. It owns and markets the Calvin Klein brand worldwide. It is the world's largest shirt company and markets a variety of goods under its own brands, Van Heusen, Calvin Klein, IZOD, Arrow, Bass and G.H. Bass & Co., and its licensed brands Geoffrey Beene, Kenneth Cole New York, Kenneth Cole Reaction, BCBG Max Azria, BCBG Attitude, MICHAEL Michael Kors, Sean Jean and Chaps.