Sports Apparel News: G-III Apparel Group (NASDAQ: $GIII) Announces License Agreement with PVH Corp. for DKNY Menswear Collections in the U.S. and Canada
Partnership Will Feature New Sport Category for DKNY Menswear
NEW YORK - May 22, 2017 (Investorideas.com Newswire) G-III Apparel Group, Ltd. (NASDAQ:GIII) announced today that it has entered into a multi-year license agreement with PVH Corp. (NYSE:PVH), under which PVH will design and distribute menswear for the DKNY brand in the United States and Canada. The license agreement includes DKNY Sport for Men, a new category for the brand. In addition, PVH has licensed rights for men's sportswear, dress shirts, neckwear and jeans.
Morris Goldfarb, chairman and chief executive officer of G-III, commented, "This collaboration is an important step in the continued growth of DKNY and a clear example of the go-forward strategy to heighten this iconic brand. PVH is a trusted and powerful partner and we look forward to our continued success together."
Ken Duane, CEO of Heritage Brands and North America Wholesale for PVH said, "DKNY is a great American brand and we are excited to have the opportunity to build out the menswear business in the U.S. and Canada as a complement to our existing menswear businesses."
The first collections will launch in spring 2018 and will be sold in department stores. This agreement is the fourth partnership between G-III and PVH. The companies have multi-year license agreements for various product categories under PVH's CALVIN KLEIN and Tommy Hilfiger brands and for men's sportswear under G-III's G.H. Bass brand.
DKNY is one of the world's leading fashion brands. From the house founded by Donna Karan in 1984, DKNY emerged in 1989. The company designs, markets and distributes collections of apparel, accessories, footwear and select licensed product with distribution in free standing stores and select department and specialty stores globally. The label continues to merge modern tailoring with sophisticated ease, celebrating the aspirational and practical spirit of New York. Acquired by G-III Apparel Group in December 2016, the company continues to be recognized as one of the most heralded names in American fashion.
About G-III Apparel Group, Ltd.
G-III is a leading manufacturer and distributor of apparel and accessories under licensed brands, owned brands and private label brands. G-III's owned brands include Donna Karan, DKNY, Vilebrequin, Eliza J, Andrew Marc, Marc New York, GH Bass, and Jessica Howard. G-III has fashion licenses under the Calvin Klein, Tommy Hilfiger, Karl Lagerfeld, Kenneth Cole, Cole Haan, Guess?, Vince Camuto, Ivanka Trump, Kensie, Jessica Simpson, Levi's and Dockers brands. Through our team sports business, G-III has licenses with the National Football League, National Basketball Association, Major League Baseball, National Hockey League, Hands High, Touch by Alyssa Milano and more than 100 U.S. colleges and universities. G-III also operates retail stores under the DKNY, Wilsons Leather, GH Bass, Vilebrequin and Calvin Klein Performance names.
About PVH Corp.
With a history going back over 135 years, PVH has excelled at growing brands and businesses with rich American heritages, becoming one of the largest apparel companies in the world. We have over 35,000 associates operating in over 40 countries and over $8 billion in annual revenues. We own the iconic CALVIN KLEIN, Tommy Hilfiger, Van Heusen, IZOD, ARROW, Speedo*, Warner's and Olga brands, and market a variety of goods under these and other nationally and internationally known owned and licensed brands.
*The Speedo brand is licensed for North America and the Caribbean in perpetuity from Speedo International, Ltd.
G-III Apparel Group:
James Palczynski, 203-682-8229
Dana Perlman, 212-381-3502
Treasurer and Senior Vice President, Business Development & Investor Relations
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