PEI Licensing, Inc. a wholly owned subsidiary of Perry Ellis International (NASDAQ: PERY) announced today that it has entered into a license agreement with Itochu Prominent USA, to design, manufacture and distribute men’s tailored clothing, including suits, suit separates and sport jackets under the Perry Ellis brand name.
Oscar Feldenkreis, President and COO of Perry Ellis International, commented, “Itochu is an industry leader in the tailored clothing market and the right partner to interpret the essence of the Perry Ellis lifestyle. We are excited about the potential of this agreement and working with one of the world’s largest companies like Itochu will help guarantee a successful launch.”
Under the agreement, Itochu will distribute product within department stores throughout the United States. Initial shipments will begin to hit the selling floor by January 2013.
Jack Kachadurian, President of Itochu Prominent USA, commented, “Itochu Prominent USA LLC is proud to be a part of the Perry Ellis family and looks to the brand to enhance the continued growth of our men’s tailored clothing platform.”About Perry Ellis International Perry Ellis International, Inc. is a leading designer, distributor and licensor of a broad line of high quality men's and women's apparel, accessories and fragrances, as well as select children's apparel. The Company's collection of dress and casual shirts, golf sportswear, sweaters, dress pants, casual pants and shorts, jeans wear, active wear, dresses and men's and women's swimwear is available through all major levels of retail distribution. The Company, through its wholly owned subsidiaries, owns a portfolio of nationally and internationally recognized brands, including: Perry Ellis(R), Original Penguin(R) by Munsingwear(R), Jantzen(R), Laundry by Shelli Segal(R), C&C California(R), Rafaella(R), Ben Hogan(R), Grand Slam(R), Savane(R), Axist(R), Manhattan(R), Farah(R), Cubavera(R), the Havanera Co.(R), Centro(R), Solero(R), John Henry(R), Munsingwear(R), Natural Issue(R), Pro Player(R), Axis(R), Tricots St. Raphael(R), Gotcha(R), Girl Star(R), MCD(R), Mondo di Marco(R), Redsand(R), Anchor Blue(R) and Miller's Outpost(R). The Company enhances its roster of brands by licensing trademarks from third parties, including: Nike(R) and Jag(R) for swimwear, and Callaway(R), PGA TOUR(R) and Champions Tour(R) for golf apparel. Additional information on the Company is available at http://www.pery.com. About Itochu Prominent USA Itochu Prominent USA LLC is the North American textile arm of Itochu International Inc and global Japanese trading giant Itochu Corporation with $43 billion in trade revenues. Itochu Prominent USA LLC consists of five major trade platforms consisting of twelve divisions with its strength lying in creative design, sourcing, distribution and brand management. Core competent strengths are men's tailored clothing, shirts and sportswear, women's clothing and sportswear, home furnishings and functional accessories.