Phillips-Van Heusen Announces License Agreement with Ram Pacific for IZOD Apparel and Accessories

NEW YORK, Jun 07, 2011 (BUSINESS WIRE) --

Phillips-Van Heusen Corporation (NYSE: PVH) and Ram Pacific Pte Ltd. have entered into a licensing agreement under which Ram Pacific will market and distribute apparel and accessories under PVH's IZOD brand in Singapore, Indonesia, and Malaysia. The initial term of the license agreement runs through December 2015 and provides for a renewal at PVH's option.

The new IZOD line will include men's, boys', women's and girls' apparel and accessories. The product lines will incorporate the colorful, active, sports-inspired styling for which IZOD is known and will be distributed at major department stores (through shop-in-shops), IZOD retail stores, and specialty stores. The first IZOD shop-in-shop opened at the Takashimaya department store on Orchard Road in Singapore in April 2011.

"We continue to look to grow our IZOD brand on a global level and see great opportunities in the Southeast Asia market," said Allen Sirkin, President and Chief Operating Officer of Phillips-Van Heusen. "Ram Pacific has extensive knowledge and experience in this region and we look forward to partnering with them to develop and grow the IZOD brand in an effective manner, while maintaining the brand heritage."

Bernie Lim, Executive Director of Ram Pacific added, "It is indeed a privilege to be collaborating with PVH on the launch of IZOD in Southeast Asia. The brand's reputable international standing has excited the local market. The freshness, color and energy that IZOD brings are a timely wake-up call for a market filled with overly safe and similar looking merchandise. The brand will be filling a void for customers looking for premium sportswear merchandise."

About IZOD and Phillips-Van Heusen Corporation

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 24 companies in the United States and is also sold in 21 other countries. IZOD brand products include apparel and accessories for men, women, and children, soft home goods, men's fragrance and watches. The IZOD brand offerings include products sold under 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, Donald J. Trump Signature Collection, JOE Joseph Abboud, DKNY and Timberland. For more information, visit www.pvh.com.

About Ram Pacific Pte Ltd.

Ram Pacific Pte Ltd., a leading distributor of luxury goods and luggage, markets the French leather and luxury goods brand, Longchamp, and the innovative German luggage maker, Rimowa. It has recently added to its portfolio under license, the famed American apparel brand, IZOD. Ram Pacific manages numerous free-standing stores for both Longchamp and Rimowa in many iconic shopping centres in Singapore and is in the process of opening IZOD shop-in-shops in numerous major department stores.

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.

SOURCE: Phillips-Van Heusen Corporation