NEW YORK, Apr 07, 2011 (BUSINESS WIRE) --
Phillips-Van Heusen Corporation [NYSE: PVH] has licensed Weihai Dishang Fashion Brands Co. Ltd., a subsidiary of China's Dishang Group, the right to market a full array of IZOD brand men's and women's sportswear, footwear and accessories in China, Hong Kong, Taiwan and Macao.
The agreement anticipates that Dishang will establish more than 1,000 points of sale in the licensed territory, including shop-in-shops and 500 or more IZOD brand stores, during its initial five-year term. Dishang has opened the first four IZOD stores in China in Beijing, Shanghai, Weihai and Zinzhuang.
The licensed rights include the right to use all IZOD sub brands, including IZOD PFX and IZOD Golf. The product categories covered by the license range from tops, casual pants and shorts, jeans, sweaters, unconstructed blazers, outerwear, swimwear and casual footwear to women's dresses, skirts and shapewear to men's travel kits and wallets.
"We expect the active, energetic personality of the IZOD brand to be a natural fit as consumers in the world's most populous nation and its neighbors increasingly express themselves through credible fashion brands," said Allen Sirkin, President and Chief Operating Officer of Phillips-Van Heusen. "Our alliance with Dishang, following our recent move into India and adjacent markets, positions the IZOD brand to make a meaningful statement through Asia. Dishang's enormous vertical capabilities make it an ideal partner for this important venture and opportunity."
Zhu Li Hua, Chief Executive Officer of Dishang Fashion Brands, called the alliance with PVH "a significant strategic partnership. With PVH's support, the historic strength of the IZOD brand, our great knowledge of the markets we serve and our great assets in manufacturing, marketing and personnel, we are in a unique position to achieve substantial impact as we introduce IZOD in this region. We know the IZOD brand will resonate well with men and women who've got an appetite for colorful casual fashion with a genuine sport-inspired personality."
ABOUT DISHANG GROUP:
Founded in 1993 and based in Weihai with vertical capabilities spanning production, design, marketing, operations and finance, Dishang is one of the largest apparel marketers in China and last year had revenues of more than $750 million (U.S.). The company acquired the Cherry Group in 2006 and formed its Dishang Fashion Brands unit in 2010 specifically to take on opportunities in branded fashion products such as IZOD.
ABOUT IZOD AND PHILLIPS-VAN HEUSEN
IZOD, one of the best-known and best-selling apparel brands in the United States, 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 licensed to 31 companies, covering 28 product categories, and is sold in the United States and 22 other countries. Products sold under the IZOD brands include apparel and accessories for men, women, and children, soft home goods, men's fragrance and watches. The IZOD brands include the IZOD PerformX (technical and performance fabricated sportswear), IZOD Jeans and IZOD LX (a luxury sportswear collection sold exclusively at Macy's) sub brands, which are sold in over 6,000 retail venues worldwide, including department, specialty and company-operated stores. For more information visit www.izod.com.
Phillips-Van Heusen Corporation, 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, Trump, JOE Joseph Abboud, DKNY and Timberland.
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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 the Company's future 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 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, changes in available factory and shipping capacity, wage and shipping cost escalation, 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. |
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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. |
SOURCE: Phillips-Van Heusen Corporation
Phillips-Van Heusen Corporation
Investors:
Michael Shaffer, 212-381-3523
Executive Vice President and Chief Financial Officer
or
Licensing:
Kenneth L. Wyse, 212-381-3628
President of Licensing
www.pvh.com
or
Media:
Jason Colin, 212-381-3937
Director of Communications