NEW YORK--(BUSINESS WIRE)--
G-III Apparel Group, Ltd. (NASDAQ:GIII) ("the Company")and Genesco Inc.
(NYSE: GCO) announced today that they have entered into a wholesale
license agreement for Genesco to design, distribute, and market G.H.
Bass men's and women's footwear in the United States and Canada. The
line will be shown to the trade this summer. First shipments are
expected for the Spring 2016 season, with distribution through better
department and specialty stores.
Jeff Goldfarb, G-III's Director of Business Development, commented,
"G.H. Bass is an iconic American brand and we are excited about the
opportunity to build upon the Bass heritage with a best-in-class partner
like Genesco. We believe Genesco's expertise and market leadership in
footwear is a perfect complement to our G.H. Bass team."
Andy Gilbert, President of Genesco's licensed brands, commented, "G.H.
Bass has the consumer recognition and the growth potential, both with
the G.H. Bass retail stores and in the wider wholesale marketplace, to
become a meaningful addition to our diversified portfolio of owned and
licensed brands. We are looking forward to working with our partners at
G-III to position the G.H. Bass brand as one of the premiere global
lifestyle brands in the market today."
This agreement marks the fourth licensing agreement G-III has signed
since purchasing the G.H. Bass brand in 2013. The Company also currently
has agreements with PVH Corp. (NYSE: PVH) for wholesale distribution of
men's sportswear and with Overland Shoes Limited for wholesale
distribution of men's, women's and children's footwear throughout
Europe, as well as for operation of retail stores throughout Europe.
The Company intends to continue to revitalize and build the G.H. Bass
heritage brand through improved assortments in its chain of 156 outlet
stores and additional category licenses with strong partners. G-III also
intends to use its in-house expertise to produce certain key categories
for Bass, including its planned launch of Bass women's apparel for
delivery in Fall 2015.
About Genesco
Genesco Inc., a Nashville-based specialty retailer, sells footwear,
headwear, sports apparel and accessories in more than 2,820 retail
stores and leased departments throughout the U.S., Canada, the United
Kingdom and the Republic of Ireland, principally under the names
Journeys, Journeys Kidz, Shi by Journeys, Schuh, Schuh Kids, Lids,
Locker Room by Lids, Lids Clubhouse, Johnston & Murphy, and on internet
websites www.journeys.com,
www.journeyskidz.com,
www.shibyjourneys.com,
www.schuh.co.uk,
www.johnstonmurphy.com,
www.lids.com,
www.lids.ca,
www.lidslockerroom.com,
www.lidsteamsports.com,
www.lidsclubhouse.com,
www.trask.com,
www.suregripfootwear.com
and www.dockersshoes.com
. The Company's Lids Sports Group division operates the Lids headwear
stores, the Locker Room by Lids and other team sports fan shops and
single team clubhouse stores, and the Lids Team Sports team dealer
business. In addition, Genesco sells wholesale footwear under its
Johnston & Murphy brand, the Trask brand, the licensed Dockers brand,
SureGrip, and other brands. For more information on Genesco and its
operating divisions, please visit www.genesco.com.
About G-III Apparel Group, Ltd.
G-III is a leading manufacturer and distributor of; outerwear, dresses,
sportswear, swimwear, women's suits, women's performance wear, footwear,
luggage, women's handbags, small leather goods and cold weather
accessories under licensed brands, -owned brands and private label
brands. G-III sells swimwear, resort wear, and related accessories under
our own Vilebrequin brand. G-III also sells outerwear, dresses, and
performance wear under our own Andrew Marc and Marc New York brands, and
has licensed these brands to select third parties in certain product
categories. G-III has fashion licenses under the Calvin Klein, Kenneth
Cole, Cole Haan, Guess?, Tommy Hilfiger, Jones New York, Jessica
Simpson, Vince Camuto, Ivanka Trump, Ellen Tracy, Kensie, Mac & Jac,
Levi's and Dockers brands. Through our team sports business, we have
licenses with the National Football League, National Basketball
Association, Major League Baseball, National Hockey League, Touch by
Alyssa Milano and more than 100 U.S. colleges and universities. Our
other owned brands include Bass, G.H. Bass, G-III Sports by Carl Banks,
Eliza J, Black Rivet, Jessica Howard and Winlit. G-III also operates
retail stores under the Wilsons Leather, Bass, G.H. Bass & Co.,
Vilebrequin, Calvin Klein Performance and Andrew Marc names.
Statements concerning G-III's business outlook or future economic
performance, anticipated revenues, expenses or other financial items;
product introductions and plans and objectives related thereto; and
statements concerning assumptions made or expectations as to any future
events, conditions, performance or other matters are "forward-looking
statements" as that term is defined under the Federal Securities laws.
Forward-looking statements are subject to risks, uncertainties and
factors which include, but are not limited to, reliance on licensed
product, reliance on foreign manufacturers, risks of doing business
abroad, the current economic and credit environment, the nature of the
apparel industry, including changing customer demand and tastes,
customer concentration, seasonality, risks of operating a retail
business, customer acceptance of new products, the impact of competitive
products and pricing, dependence on existing management, possible
disruption from acquisitions and general economic conditions, as well as
other risks detailed in G-III's filings with the Securities and Exchange
Commission. G-III assumes no obligation to update the information in
this release.
G-III Apparel Group, Ltd.
Neal Nackman, 212-403-0500
Chief
Financial Officer
or
Investor Relations:
ICR, Inc.
James
R. Palczynski, 203-682-8229
Source: G-III Apparel Group, Ltd.
News Provided by Acquire Media
