G-III Apparel Teams With Major League Baseball to Produce Outerwear Collection
NEW YORK, Sept. 30, 1999 -- G-III Apparel Group Inc.(Nasdaq:GIII) today announced that it had signed a licenseagreementwith Major League Baseball to produce and distribute MajorLeague Baseball outerwear.
Under the agreement, G-III will offer leather and wool and leatherouterwear as well as cold weather gloves bearing thesilhouetted-batter logo of Major LeagueBaseball and the names andlogos of the 30 clubs. Select merchandise will be available laterthis Fall at retailers across the country that carry G-IIImerchandise. Thefull collection of Major League Baseball outerwearwill be launched in Spring 2000.
"Through its contemporary and fashionable line of outerwear, G-IIIApparel Group will help us further communicate the excitement ofMajor League Baseball to atrend-conscious generation of fans,"said Howard Smith, vice president, Major League BaseballProperties.
Morris Goldfarb, Chief Executive Officer of G-III Apparel Groupcommented, "We are very excited to be a part of this new MajorLeague Baseball sportscollection. This agreement is yet anotherexample of G-III's growing emphasis on branded apparel."
G-III Apparel Group is a leading manufacturer and distributor ofleather and non-leather outerwear apparel. The Company has fashionlicenses with Kenneth ColeProductions, Nine West Group and TommyHilfiger and a distribution agreement for Caterpillar apparel aswell as licensing agreements with the National FootballLeague,National Hockey League, National Basketball Association, MajorLeague Baseball and more than 20 universities nationwide.
Statements concerning the Company's business outlook for futureeconomic performance; anticipated revenues, expenses or otherfinancial items; productintroductions and plans and objectivesrelated thereto; and statements concerning assumptions made orexpectations as to any future events, conditions, performanceorother matters, are "forward-looking statements" as that term isdefined under the Federal Securities laws. Forward-lookingstatements are subject to risks,uncertainties and other factorswhich could cause actual results to differ materially from thosestated in such statements. Such risks, uncertainties and factorsinclude,but are not limited to, reliance on foreign manufacturers,the nature of the apparel industry, including changing customerdemand and tastes, seasonality, customeracceptance of new products,the impact of competitive products and pricing, dependence onexisting management, general economic conditions, as well asotherrisks detailed in the Company's filings with the Securitiesand Exchange Commission.
CONTACT: Major League Baseball Derrick Johnson 212/931-7878 or G-III Apparel Group Ltd. Wayne Miller Chief Financial Officer 212/403-0500 or Investor Relations: Cheryl Schneider/Shannon Moody/ Natasha Boyden Press: David Nugent Morgen-Walke Associates 212/850-5600