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G-III Apparel Group, Ltd. (NasdaqGS: GIII) today announced that it has entered into a retail store agreement with Calvin Klein, Inc., a wholly owned subsidiary of PVH Corp. (NYSE: PVH), to open Calvin Klein Performance stores and shop in shops for the sale of women’s Calvin Klein Performance apparel in the United States and China. G-III also has rights to expand to additional countries throughout the world. Terms of the deal were not disclosed. G-III noted that this retail store license is in addition to the women’s wholesale Calvin Klein Performance license that it entered into in 2007.
The product offering will continue to be athletic and performance wear that utilizes materials and designs that enhance the lifestyle associated with women’s sports and activities, including yoga, running, tennis, and biking. The line features items rendered in authentic performance fabrics and is finished with detailing appropriate for each of those classifications. The products to be offered in the retail stores will include pants, capris, shorts, tank tops, t shirts, and hooded jackets.
Morris Goldfarb, Chairman and Chief Executive Officer of G-III Apparel Group, commented, “We believe that there is an excellent opportunity to leverage the power and recognition of the Calvin Klein brand to bring the performance line to a global audience of consumers. Initially, we will launch in the United States and China. We are very excited about the potential to roll these stores out in countries around the world.”
Tom Murry, President and Chief Executive Officer of Calvin Klein, Inc. stated, “G-III has shown repeatedly that they understand our consumer and can steward the brand across a number of important categories. We are excited to see them build upon the work they have done in the United States to further expand Calvin Klein Performance at retail both in the United States and China.”