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PVH Corp. Announces Licensing Agreement with Ashko Group for Van Heusen Slippers

^{Published on 2011-09-29 09:40:03 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--PVH Corp. (NYSE: PVH) and Ashko Group LLC have entered into a licensing agreement under which Ashko Group will market and distribute mena™s and boysa™ slippers under PVHa™s Van Heusen brand. The initial term of the licensing agreement runs through 2014 and provides for a renewal at PVHa™s option.

"We are excited to work with PVH to translate the essence of the Van Heusen brand into the mena™s and boysa™ slipper categories. We look forward to a great partnership with PVH for many years to come."

The new mena™s and boysa™ Van Heusen slipper line will incorporate Van Heusen branding and is offered in four styles including micro-suede, sherpa, fleece, and terry blends. The slippers will be distributed at major department stores and specialty stores throughout the United States and Canada.

aWe continue to look for strategic partners to build upon the growing Van Heusen brand, and Ashko Group has extensive experience in this category,a said Allen Sirkin, President and Chief Operating Officer of PVH Corp. aWe look forward to having Ashko Group as a Van Heusen licensee to develop this niche category for us.a

Jackie Ashkenazi, President of Ashko Group LLC, added, aWe are excited to work with PVH to translate the essence of the Van Heusen brand into the mena™s and boysa™ slipper categories. We look forward to a great partnership with PVH for many years to come.a

About PVH Corp.:

PVH Corp., 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, Donald J. Trump Signature Collection, JOE Joseph Abboud and DKNY. For more information, visit[ www.pvh.com ].

About Ashko Group LLC:

Ashko Group LLC was founded by brothers Charles and Jack Ashkenazi in 2005 and is located in New York, New York. We are proud of the Footwear and Hosiery products that we manufacture and offer to our long list of customers. Our product categories cover infant to adult sizes in slippers, sandals and socks. Our products are trend right and we have standards in place that give the consumer quality products at affordable prices. Our portfolio of licensed brands include Laura Ashley, Bon Bebe and now Van Heusen as well as character licenses for Barbie, Monster High and Peanuts in the above footwear categories.

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.