Phillips-Van Heusen Licenses Dishang for IZOD in Greater China
Plans call for stores and shop-in-shops in China, Hong Kong, Taiwan
and Macao
NEW YORK, Apr 07, 2011 (BUSINESS WIRE) --
Phillips-Van Heusen Corporation [NYSE: PVH] has licensed Weihai Dishang
Fashion Brands Co. Ltd., a subsidiary of China's Dishang Group, the
right to market a full array of IZOD brand men's and women's sportswear,
footwear and accessories in China, Hong Kong, Taiwan and Macao.
The agreement anticipates that Dishang will establish more than 1,000
points of sale in the licensed territory, including shop-in-shops and
500 or more IZOD brand stores, during its initial five-year term.
Dishang has opened the first four IZOD stores in China in Beijing,
Shanghai, Weihai and Zinzhuang.
The licensed rights include the right to use all IZOD sub brands,
including IZOD PFX and IZOD Golf. The product categories covered by the
license range from tops, casual pants and shorts, jeans, sweaters,
unconstructed blazers, outerwear, swimwear and casual footwear to
women's dresses, skirts and shapewear to men's travel kits and wallets.
"We expect the active, energetic personality of the IZOD brand to be a
natural fit as consumers in the world's most populous nation and its
neighbors increasingly express themselves through credible fashion
brands," said Allen Sirkin, President and Chief Operating Officer of
Phillips-Van Heusen. "Our alliance with Dishang, following our recent
move into India and adjacent markets, positions the IZOD brand to make a
meaningful statement through Asia. Dishang's enormous vertical
capabilities make it an ideal partner for this important venture and
opportunity."
Zhu Li Hua, Chief Executive Officer of Dishang Fashion Brands, called
the alliance with PVH "a significant strategic partnership. With PVH's
support, the historic strength of the IZOD brand, our great knowledge of
the markets we serve and our great assets in manufacturing, marketing
and personnel, we are in a unique position to achieve substantial impact
as we introduce IZOD in this region. We know the IZOD brand will
resonate well with men and women who've got an appetite for colorful
casual fashion with a genuine sport-inspired personality."
ABOUT DISHANG GROUP:
Founded in 1993 and based in Weihai with vertical capabilities spanning
production, design, marketing, operations and finance, Dishang is one of
the largest apparel marketers in China and last year had revenues of
more than $750 million (U.S.). The company acquired the Cherry Group in
2006 and formed its Dishang Fashion Brands unit in 2010 specifically to
take on opportunities in branded fashion products such as IZOD.
ABOUT IZOD AND PHILLIPS-VAN HEUSEN
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 IZOD brand is licensed to 31 companies, covering 28
product categories, and is sold in the United States and 22 other
countries. Products sold under the IZOD brands include apparel and
accessories for men, women, and children, soft home goods, men's
fragrance and watches. The IZOD brands include the IZOD PerformX
(technical and performance fabricated sportswear), IZOD Jeans and IZOD
LX (a luxury sportswear collection sold exclusively at Macy'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 world's largest apparel
companies, owns and markets the iconic Calvin Klein and Tommy Hilfiger
brands worldwide. It is the world'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.
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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, changes
in available factory and shipping capacity, wage and shipping cost
escalation, 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.
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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.
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SOURCE: Phillips-Van Heusen Corporation
Phillips-Van Heusen Corporation
Investors:
Michael Shaffer, 212-381-3523
Executive Vice President and Chief Financial Officer
or
Licensing:
Kenneth L. Wyse, 212-381-3628
President of Licensing
www.pvh.com
or
Media:
Jason Colin, 212-381-3937
Director of Communications