PVH Corp. [NYSE: PVH] is pleased to announce an agreement between its Cluett, Peabody & Co., Inc. subsidiary and Seidensticker Private Label GmBH to license the ARROW brand, beginning with the Spring 2013 shirt collections.
Under this agreement, distribution of the ARROW brand will include wholesale, retail, shop-in-shops, and e-commerce throughout selected countries in Europe. The licensed product categories include men’s woven and knit sport shirts and dress shirts, and will be designed, manufactured, and sourced by the Seidensticker Group.
“We are pleased to enter into this license agreement with Seidensticker,” said Ken Wyse, PVH’s President of Licensing. “Over the past few years, we have successfully repositioned the ARROW brand in existing European markets and introduced it to new territories. Partnering with Seidensticker, one of the leaders in the European dress shirt market, is a wonderful opportunity to reach new customers and to further evolve the ARROW business.”
“We are excited to partner with PVH and look forward to continue growing the ARROW business together,” said Frank Seidensticker, one of the owners of the Seidensticker Group. “Our company is regarded for its innovative design and high-quality products. It’s one of the top three shirt manufacturers in the world and the most well-known in Germany.”The Seidensticker Group currently manages shirt production for many other premium brands, and annually produces an average of 16 million shirts, primarily for distribution in the European market. North America and Europe are the largest markets for the ARROW brand, followed by Asia (India, the Middle East, Thailand, and China) and Latin America. The first collections distributed under the license agreement are expected to be in stores in January 2013. About PVH Corp.: PVH Corp., 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, Ike Behar and John Varvatos. About the Seidensticker Group: The Seidensticker corporate group is one of the top three largest shirt producers worldwide today. The company founded in Bielefeld, Germany in 1919 employs 1,800 staff internationally and has production facilities in 14 countries, both in Eastern Europe and Asia. Besides its own brands Seidensticker , Schwarze Rose, Jacques Britt, Dornbusch, Lorenzo Calvino and Redford, the company also holds the master license for camel active and licenses for Joop!, Strellson, Bogner, Baldessarini and Michalsky. The 2010/2011 financial year closed with total revenue of over 200 million euro and a profit. The export rate was 40 percent. Overall the group produces approximately 16 million pieces a year. The company is under 100 percent family ownership. The two partners, Gerd Oliver and Frank-Walter Seidensticker, manage the group together with Detlef Adler. 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 future plans, strategies, objectives, expectations and intentions of PVH Corp. and its subsidiaries (collectively, the “Company”), 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.
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