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Phillips-Van Heusen Announces Licensing Agreement with Comfort Revolution for IZOD Memory Foam Bedding

^{Published on 2011-03-10 10:10:50 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Phillips-Van Heusen Corporation (NYSE: PVH) and Comfort Revolution have entered into a licensing agreement under which Comfort Revolution will market and distribute memory foam bedding and stadium seat cushions under PVHa™s IZOD brand. The licensing agreement has an initial term of just over two years and provides for a three year renewal at PVHa™s option.

"We are excited to continue growing our IZOD product offerings and to partner with Comfort Revolution on this endeavor"

The new IZOD memory foam bedding collection will integrate the sport-spirited design of the brand. The collection will debut at the Home Textiles Market Week during the week of March 14, and will be distributed at major department stores and specialty stores throughout the United States.

aWe are excited to continue growing our IZOD product offerings and to partner with Comfort Revolution on this endeavor,a said Allen Sirkin, President and Chief Operating Officer of Phillips-Van Heusen. aWith Comfort Revolutiona™s extensive experience in this category, we believe they are the best partner to introduce the IZOD bedding line.a

The IZOD bedding line includes non-coil memory foam mattresses, mattress toppers and pillows, will incorporate IZOD branded packaging, and will be available in twin, queen, and king sizes. The memory foam bedding collection will retail for approximately $500 and up.

aComfort Revolution is extremely excited to be entering into a partnership with PVH to manufacture and distribute IZOD branded comfort sleep products and stadium seat cushions. These products will appeal to the IZOD consumer who is looking for innovation, quality and performance. Our IZOD sleep products will allow customers to wake up refreshed and rejuvenated and enable them to get the most out of their day. We look forward to working closely with PVH in developing exciting new products and packaging that will help grow our business and theirs,a said Michael Fux, CEO of Comfort Revolution.

About IZOD and Phillips-Van Heusen Corporation:

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 sports-inspired IZOD brand now is licensed to 24 companies covering 28 different product categories in the U.S. and 51 international markets. IZOD brand products include apparel and accessories for men, women, and children, soft home goods and mena™s fragrance. The IZOD brand offerings include products sold under the IZOD PerformX (technical and performance fabricated sportswear), IZOD Jeans, and IZOD LX (a luxury sportswear collection sold exclusively at Macya™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 worlda™s largest apparel companies, owns and markets the iconic Calvin Klein and Tommy Hilfiger brands worldwide. It is the worlda™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 ]

About Comfort Revolution:

Comfort Revolution®, headquartered in West Long Branch, New Jersey, is a leading distributor and marketer of high-end sleep products, including mattresses, mattress toppers and pillows. Comfort Revolutiona™s portfolio of brands include Sleep Clinique, Fresh Foam and Body Therapy. Comfort Revolution®. Good nights. Great Days. Revolutionary Comforta".

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.