Ittierre to assume the production and distribution for Fall 2012
NEW YORK, NEW YORK (December 19, 2011) – The Tommy Hilfiger Group, which is wholly owned by PVH Corp. [NYSE: PVH], is pleased to announce an agreement with Ittierre S.p.A to license the men’s and women’s runway collections beginning Fall 2012 and pre-collections Spring 2013. Ittierre will produce and distribute apparel and the majority of accessories, with distribution concentrated in Europe, North America and Asia.
Under this agreement, distribution of the runway collections will extend from Tommy Hilfiger retail stores to also include high-end wholesale, specialty and online retailers. The collections will be sold in six showrooms throughout Europe, North America and Asia following presentations during New York Fashion Week in February 2012.
"We are thrilled to enter into this licensing agreement with Ittierre, which will allow us to broaden our upper tier global distribution," said Fred Gehring, Chief Executive Officer of The Tommy Hilfiger Group. "Over the past few years, the successful repositioning and elevation of the brand has led to an increase in the demand for our runway collections. Partnering with Ittierre is a wonderful opportunity to reach new customers and to further evolve our most elevated expression of preppy American classics with a twist. We look forward to building on the brand’s current momentum with Ittierre, a partner that is renowned for their passion and capability to manage the manufacturing and distribution of designer collections on a global scale."
Antonio Bianchi, Chairman and CEO of Ittierre S.p.A. asserts: "Tommy Hilfiger, the world's leading Classic American Cool brand, has chosen Ittierre, the representative of "Made in Italy" craftsmanship and excellence in the fashion industry, as its global partner. We are delighted by this new collaboration with one of the world’s leading designer apparel brands. It is a historic event that enhances the global reputation of Ittierre and rewards the dedication of our management team, headed by General Manager Alessandro Locatelli. This new important licence, the fifth awarded in 2011 and tenth overall in Ittierre’s portfolio, marks a fantastic close of year for the Company."
Tommy Hilfiger retains creative control over all collections. Prices for the men’s and women’s runway collections are expected to range from 140.00 – 2,000.00 Euros; the entry price points are expected to be consistent with previous seasons but will extend to include higher level pricing for tailored clothing, dresses and leathers. The first collection distributed under the licensing agreement will be in stores July 2012.
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About The Tommy Hilfiger Group:
With a premium lifestyle brand portfolio that includes Tommy Hilfiger and Hilfiger Denim, the Tommy Hilfiger Group is one of the world’s most recognized designer apparel groups. Its focus is designing and marketing high-quality menswear, womenswear, children’s apparel and denim collections. Through select licensees, the Group offers complementary lifestyle products such as sportswear for men, women and children; footwear; athletic apparel (golf, swim and sailing); bodywear (underwear, robes and sleepwear); eyewear; sunwear; watches; handbags; men’s tailored clothing; men’s dress furnishings; socks; small leather goods; fragrances; home and bedding products; bathroom accessories; and luggage. The Hilfiger Denim product line consists of jeanswear and footwear for men, women and children; bags; accessories; eyewear and fragrance. Merchandise under the Tommy Hilfiger brands is available to consumers worldwide through an extensive network of Tommy Hilfiger retail stores, leading specialty and department stores and other select retailers and retail channels.
About PVH Corp.:
PVH Corp., one of the world’s largest apparel companies, owns and markets the iconic Calvin Klein and Tommy Hilfiger brands 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, Tommy Hilfiger, IZOD, ARROW, Bass and G.H. Bass & Co., and its licensed brands, including Geoffrey Beene, Kenneth Cole New York, Kenneth Cole Reaction, MICHAEL Michael Kors, Sean John, Chaps, Donald J. Trump Signature Collection, JOE Joseph Abboud, DKNY, Ike Behar and John Varvatos.
About Ittierre S.p.A.:
Itterre S.p.A., leader in the sartorial and industrial production and global distribution of licensed apparel and property owned brands, from the high end prêt-a-porter to younger lines and jeanswear, represents innovation, creativity, design and the quality of the made in Italy worldwide. The partnerships that have been developed in the past thirty years with the most important international designers have stimulated a growth path in terms of style, development, product and market distribution. The dna of each individual licensed brand is respected and maximized, the designers ideas of the collection are interpreted and produced exclusively in the industrial pole of Pettoranello di Molise in the province of Isernia, where the productive and logistic platform is sited on an area of 120.000mq., of which 80.000 is covered, unites not only the directional and administrative offices but also all of the activities that lead to the creation of garments and accessories. The Head Quarter currently employs over 600 people and has created a real district, unique in the Italian fashion system: Ittierre S.p.A., employs over 3000 people extended over 150 manufactures in the district, thus being able to count on a complete production cycle, including washings and finishings. The portfolio of Ittierrre S.p.A. includes a high diversified range of international brands such as: Karl Lagerfeld Paris, Pierre Balmain, Aquascutum, Galliano, Ermanno-Ermanno Scervino, C'N'C Costume National, GF Ferrt, Fiorucci and Acht.
For further information:
Tommy Hilfiger:
USA
Katelin Jones
Director of Communications North America
T +1 212.548.1933
kajones@tommy.com
Europe
Abdel El Hamri
Sr. Director
Marketing & Communications
T +31 20 589 5701
abdel.elhamri@tommy.com
International
Eric Reed
Vice President - International Marketing & Communications
T +31 20 589 5355
eric.reed@tommy.com
Attila&Co.:
Keren Avni, Attila&Co.
+ 39 02-34970531
keren.avni@attila.it
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: Forward-looking statements made in this press release, including, without limitation, statements relating to future plans, strategies, objectives, expectations and intentions of PVH Corp. and its subsidiaries (collectively, the "Company"), 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 licensees at wholesale and retail, and the extent of discounts and promotional pricing in which the Company's 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, and other factors; (iii) civil conflict, war or terrorist acts, the threat of any of the foregoing, or political and labor instability in any of the countries where the Company's licensees' or other business partners' products are sold, produced or are planned to be sold or produced; (iv) 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, as well as reduced consumer traffic and purchasing, as consumers limit or cease shopping in order to avoid exposure or become ill; (v) 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 (vi) 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 forward-looking statement, whether as a result of the receipt of new information, future events or otherwise.