NEW YORK--(BUSINESS WIRE)--
Macy's, Inc., one of the nation's premier retailers, and G-III Apparel
Group, Ltd. (NASDAQ:GIII), a leading manufacturer and distributor of
apparel and accessories under licensed brands, owned brands and private
label brands, today announced an agreement under which Macy's
will serve, beginning February 2018, as the exclusive U.S. department
store for sales of DKNY women's apparel and accessories.
Under the agreement, Macy's exclusivity covers DKNY women's
apparel, handbags and shoes, in addition to women's and men's outerwear
and swim, which will be available at Macy's locations nationwide and on
macys.com. Macy's and G-III will work closely on brand extensions and
exclusive products that build upon the founding principles of the iconic
New York-based brand. The agreement also plans for increased and
enhanced DKNY shop-in-shops in Macy's stores.
"We want to create partnerships that offer our customers products and
experiences that they can find only at Macy's, and DKNY is a
fashion-first brand we know our customers love," said Jeff Gennette,
president and chief executive officer of Macy's, Inc. "By offering
exclusive access in key categories, we are confident that DKNY will
quickly become one of our top brands. Their remarkable global
recognition combined with our expansive footprint make Macy's and DKNY a
perfect partnership."
"We believe that Macy's is the ideal partner as we implement our
strategy for DKNY to be the premier brand in the world for women's
apparel and accessories," said Morris Goldfarb, chairman and chief
executive officer of G-III. "We have worked well with Macy's in the past
with respect to our portfolio of brands and we are confident that this
partnership with Macy's will help DKNY flourish and capture market
share."
G-III will continue to operate the freestanding global DKNY stores and
DKNY.com. G-III also will maintain DKNY's agreements with international
license partners and distributors outside of the United States. Products
outside the exclusive categories and products distributed by DKNY's
various licensees under other categories in the DKNY family will
continue to be sold to a broad range of department stores, including
Macy's.
About G-III Apparel Group, Ltd.
G-III is a leading manufacturer and distributor of apparel and
accessories under licensed brands, owned brands and private label
brands. G-III's owned brands include Donna Karan, DKNY, Vilebrequin,
Eliza J., Andrew Marc, Marc New York, Bass, and Jessica Howard. G-III
has fashion licenses under the Calvin Klein, Tommy Hilfiger, Karl
Lagerfeld, Kenneth Cole, Cole Haan, Guess?, Vince Camuto, Ivanka Trump,
Kensie, Jessica Simpson, Levi's and Dockers brands. Through its team
sports business, G-III has licenses with the National Football League,
National Basketball Association, Major League Baseball, National Hockey
League, Hands High, Touch by Alyssa Milano and more than 100 U.S.
colleges and universities. G-III also operates retail stores under the
DKNY, Wilsons Leather, Bass, Vilebrequin and Calvin Klein Performance
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, risks relating to G-III's acquisition of
Donna Karan International Inc. 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.
About DKNY
DKNY is one of the world's leading fashion brands. From the house
founded by Donna Karan in 1984, DKNY emerged in 1989. The company
designs, markets and distributes collections of apparel, accessories,
footwear and select licensed product with distribution in free standing
stores and select department and specialty stores globally. The label
continues to merge modern tailoring with sophisticated ease, celebrating
the aspirational and practical spirit of New York. Acquired by G-III
Apparel Group in December 2016, the company continues to be recognized
as one of the most heralded names in American fashion.
About Macy's, Inc.
Macy's, Inc. is one of the nation's premier retailers. With fiscal 2016
sales of $25.778 billion and approximately 140,000 employees, the
company operates more than 700 department stores under the nameplates
Macy's and Bloomingdale's, and approximately 125 specialty stores that
include Bloomingdale's The Outlet, Bluemercury and Macy's Backstage.
Macy's, Inc. operates stores in 45 states, the District of Columbia,
Guam and Puerto Rico, as well as macys.com, bloomingdales.com and
bluemercury.com. Bloomingdale's stores in Dubai and Kuwait are operated
by Al Tayer Group LLC under license agreements. Macy's, Inc. has
corporate offices in Cincinnati, Ohio, and New York, New York.
All statements in this press release that are not statements of
historical fact are forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements are
based upon the current beliefs and expectations of Macy's management and
are subject to significant risks and uncertainties. Actual results could
differ materially from those expressed in or implied by the
forward-looking statements contained in this release because of a
variety of factors, including conditions to, or changes in the timing
of, proposed real estate and other transactions, prevailing interest
rates and non-recurring charges, store closings, competitive pressures
from specialty stores, general merchandise stores, off-price and
discount stores, manufacturers' outlets, the Internet, mail-order
catalogs and television shopping and general consumer spending levels,
including the impact of the availability and level of consumer debt, the
effect of weather and other factors identified in documents filed by the
company with the Securities and Exchange Commission. Macy's disclaims
any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise, except as required by law.
(NOTE: Additional information on Macy's, Inc., including past news
releases, is available at www.macysinc.com/pressroom)
View source version on businesswire.com: http://www.businesswire.com/news/home/20170327005338/en/
Macy's
Julie Strider Fukami, 646-429-5213
julie.striderfukami@macys.com
or
DKNY
Jacalyn
Bouza, 212-768-5903
jbouza@dkny.com
Source: G-III Apparel Group, Ltd.
News Provided by Acquire Media
