Phillips-Van Heusen Corporation (NYSE: PVH) today announced a new
licensing agreement with Arvind Brands Ltd., a division of Arvind Mills
Ltd. to design and distribute apparel under its well-known IZOD
sport-inspired lifestyle brand. This strategic licensing arrangement
provides Arvind with the right to distribute apparel under this iconic
American brand both at wholesale and through its own IZOD flagship
stores in India.
"PVH is represented in India through the
presence of several of its brands, including ARROW, which Arvind has
distributed for more than 15 years. We have been impressed by Arvind’s
management team and the growth of our ARROW brand in India, as well as
the number of other prominent international brands Arvind manages in
India. We believe that Arvind has the skill, business acumen, experience
and infrastructure to introduce and develop successfully the IZOD
brand in India.” said Kenneth Wyse, President –
Licensing, PVH.
"Arvind Brands is excited to be furthering its
relationship with PVH – a company with which
we have a close relationship,” said J. Suresh,
CEO of Arvind Brands. Continuing, he said, "With
this relationship, we will now have a true iconic American
sportswear brand with which to build a strong presence in the sportswear
segment. We believe this is a segment that is at the cusp of explosive
growth in India.” About IZOD and Phillips-Van Heusen Corporation:
IZOD, one of the United States’ best-known
and best-selling apparel brands, is known for its sport-inspired, clean
designs and colorful product lines. With a history in the United States
dating back to the 1930s, the IZOD brand is now licensed to 27 companies
covering 25 categories of goods in the U.S. and in 11 international
territories, IZOD brand products include apparel and accessories for
men, women, and children, soft home goods and a soon-to-be launched men’s
fragrance. The IZOD brand offerings include products sold under the IZOD
PerformX (technical and performance fabricated sportswear), IZOD Jeans,
IZOD Golf, IZOD LX (a luxury sportswear collection sold exclusively at
Macy’s) and IZOD-G (green grass and resort
channel golf apparel) subbrands, which are sold in over 6,000 retail
venues, including department, specialty and company-owned stores,
worldwide. Visit izod.com.
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 and neckwear 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, including Geoffrey Beene,
Kenneth Cole New York, Kenneth Cole Reaction, unlisted, A Kenneth Cole
Production, BCBG Max Azria, BCBG Attitude, MICHAEL Michael Kors, Sean
John, Chaps, Donald J. Trump Signature Collection, JOE Joseph Abboud,
Tommy Hilfiger, Perry Ellis Portfolio, DKNY and, beginning in Fall 2008,
Timberland.
About Arvind Mills Ltd:
Established in 1931 as a global leader in the development and production
of textiles, Arvind Mills is India’s largest
integrated textile company and operates across the entire value chain
from design to fabric to brands. Arvind was the first company in India
to license an international brand when they brought ARROW to India.
Arvind now has licensing relationships with many international brands,
including ARROW, GANT, Tommy Hilfiger and, most recently, Diesel. Arvind
also has a joint venture for the Indian market with VF Corporation with
respect to VF’s brands, including Wrangler,
Lee, Nautica, and Kippling. In addition, Arvind owns a number of
successful Indian brands; Flying Machine, Newport, Excalibur and Ruf and
Tuf among others, and owns the 70 outlet ‘Megamart’
value retail chain.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
OF 1995: Forward-looking statements made in this release, including,
without limitation, statements relating to the Company's future revenues
and earnings, 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 apparel, footwear and related products, both to its wholesale
customers and in its retail stores, 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 and its 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, repositionings of brands by the
Company's licensors and other factors; (iii) the Company's plans and
results of operations will be affected by the Company's ability to
manage its growth and inventory, including the Company's ability to
continue to realize revenue growth from developing and growing Calvin
Klein; (iv) the Company's operations and results could be affected by
quota restrictions and the imposition of safeguard controls (which,
among other things, could limit the Company's ability to produce
products in cost-effective countries that have the labor and technical
expertise needed), the availability and cost of raw materials
(particularly petroleum-based synthetic fabrics, which are currently in
high demand), the Company's ability to adjust timely to changes in trade
regulations and the migration and development of manufacturers (which
can affect where the Company's products can best be produced), and civil
conflict, war or terrorist acts, the threat of any of the foregoing or
political and labor instability in the United States or any of the
countries where the Company's products are or are planned to be
produced; (v) 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; (vi) acquisitions and issues arising with acquisitions and
proposed transactions, including without limitation, the ability to
integrate an acquired entity into the Company with no substantial
adverse affect on the acquired entity's, or the Company's existing,
operations, employee relationships, vendor relationships, customer
relationships or financial performance; (vii) 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 (viii) 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
such forward-looking statement, including, without limitation, any
estimate regarding revenues or earnings, whether as a result of the
receipt of new information, future events or otherwise.
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