NEW YORK, Mar 17, 2011 (BUSINESS WIRE) --
Phillips-Van Heusen Corporation (NYSE: PVH) has licensed Harbor Wholesale Ltd. to produce and market men's, women's and children's casual and dress casual footwear, leisure athletic shoes and non-beach sandals under the IZOD brand in the U.S., its possessions and territories and Canada.
Harbor, based in Port Washington, N.Y., has been granted rights to PVH's IZOD trademark as well as the IZOD PerformX, IZOD Jeans, IZOD Classix, IZOD SPORT and IZOD Luxury Sport sub-brands. The initial term of the agreement is through 2015 with possible extensions through 2020 at PVH's option.
Since late 2006, Harbor has been the global licensee for footwear sold on a wholesale basis under PVH's Bass and G.H. Bass family of trademarks. Deliveries of the IZOD collection will begin this summer.
"We have enjoyed an excellent relationship with Harbor as its team has worked successfully to reestablish the Bass wholesale footwear business in the U.S. and overseas markets," said Allen Sirkin, President and Chief Operating Officer of Phillips-Van Heusen. "The company's in-depth understanding of the shoe market and the precise positioning of brands give us great confidence as we look to build the IZOD brand in footwear, a fast-growing, critical segment of the North American fashion market."
Jim McCormick, President of Harbor, said, "Footwear represents a great opportunity to capture the youthful, energetic spirit of the IZOD brand, and we strongly believe our 'casual value' approach to this business mirrors what PVH has done so well with IZOD apparel. This agreement gives us a great chance to present a lot of color and really reflect the active personality of the brand."
McCormick noted that Harbor continues to expand its activities with the Americana-oriented Bass brand and has introduced upscale co-branded collections by designers Rachel Antonoff and Mark McNairy in women's and men's footwear, respectively, geared toward upscale retailers. In addition to the U.S., Harbor markets Bass footwear in Europe, Japan and South Africa and is currently working to expand the brand into China.
Dating back to the 1930s, the sports-inspired IZOD brand now is licensed to 31 companies covering 28 different product categories and is sold in the U.S. and 22 international markets.
About Phillips-Van Heusen:
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. For more information visit www.pvh.com
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, 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.
SOURCE: Phillips-Van Heusen Corporation
Phillips-Van Heusen
Investors:
Michael Shaffer
Executive Vice President and
Chief Financial Officer
212-381-3523
or
Media:
Kenneth L. Wyse
President of Licensing
212-381-3628
www.pvh.com