NEW YORK--(BUSINESS WIRE)--Apr. 13, 2017--
PVH
Corp. [NYSE:PVH] announced today that two of its subsidiaries have
entered into a license agreement with USA Legwear LLC under which USA
Legwear will manufacture, sell, distribute and promote women’s hosiery
and socks under the Warner’s brand. Products will launch for
Spring 2018 and be sold primarily in leading department stores,
specialty stores, national chains and mass retailers throughout the
United States and Canada.
The Warner’s product offering will include women’s sheer hosiery,
tights, leggings, thigh highs, knee highs, trouser socks, dress socks,
athletic socks, casual socks and boot socks.
“As we seek ways to grow the Warner’s product line, we naturally
came upon hosiery as a great fit with our intimate apparel offerings.
The Warner’s brand has a leading market share position in bras
and panties, and we believe that USA Legwear can leverage this
positioning to develop and grow a hosiery business,” said Ken Wyse,
President Licensing, PVH Corp. “USA Legwear has extensive knowledge and
experience in this product category, and we look forward to working with
them to build this business."
Aaron Harari, President & CEO, USA Legwear LLC added “We are thrilled to
add the Warner’s brand to our current portfolio and expand upon
our existing partnership with PVH for its Van Heusen brand. Socks and
hosiery are a natural extension for the Warner’s brand. We look
forward to bringing the highly successful solutions oriented model to
the category through innovation, while continuing to fuel the market
share momentum Warner’s has enjoyed over the last several years.”
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 30,000 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.
About USA Legwear, LLC.
Since its founding in 2009, USA Legwear has become a leading global
resource for socks and hosiery, while holding true to a singular
mission: to elevate the quality of everyday legwear products without
sacrificing value. USA Legwear manufactures, markets and distributes for
many of today’s leading brands, such as Van Heusen, Reebok, Nautica,
AND1, Avia, Buffalo, and Body Glove, with product ranges from infants
through adults. The company’s wide range of offerings can be found on
the shelves of specialty shops, department stores, mid-tier, and mass
retail channels.
PVH CORP. 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 PVH
Corp’s (the “Company”) 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, (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 Company may be
considered to be highly leveraged, and uses a significant portion of its
cash flows to service its indebtedness, as a result of which the Company
might not have sufficient funds to operate its businesses in the manner
it intends or has operated in the past; (iii) 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; (iv) the Company’s plans and
results of operations will be affected by the Company’s ability to
manage its growth and inventory; (v) 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, 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), changes
in available factory and shipping capacity, wage and shipping cost
escalation, and 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 or its licensees’ or other business
partners’ products are sold, produced or are planned to be sold or
produced; (vi) 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
become ill or limit or cease shopping in order to avoid exposure; (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.
Risks and uncertainties related to the acquisition include, among
others: the risk that the conditions to the closing are not satisfied
and the transaction is not completed; uncertainties as to the timing of
the acquisition; competitive responses to the acquisition; the inability
to obtain, or delays in obtaining, synergies from the acquisition;
unexpected costs, charges or expenses resulting from the acquisition;
litigation relating to the acquisition; the inability to recognize the
expected benefits of the acquisition; the inability to integrate the
acquired business without disruption to the acquired business or
existing operations; and any changes in general economic and/or industry
specific conditions.
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170413005242/en/
Source: PVH Corp.
PVH Corp.:
Dana Perlman,
212-381-3502
Treasurer and Senior Vice President, Business
Development & Investor Relations
communications@pvh.com
