PVH Corp. (NYSE:PVH) and BH Fashion Retailers Inc. have entered into license agreements under which BH Fashion Retailers will market and distribute certain apparel and accessories for the IZOD and Van Heusen brands in the Philippines. The initial term of the license agreement runs through December 2018.
Under the license agreement for PVH’s IZOD brand, BH Fashion Retailers will market and distribute sportswear, golfwear, dress shirts, neckwear, outerwear, swimwear and certain accessories. Under the license agreement for Van Heusen, BH Fashion Retailers will market and distribute sportswear, outerwear, dress furnishings and accessories. BH Fashion Retailers is planning to open free standing IZOD and Van Heusen stores, as well as developing shop-in-shops at better department stores throughout the Philippines.
“We are excited about the future of our Van Heusen and IZOD brands in the Philippines,” said Ken Wyse, President of Licensing for PVH Corp. “BH Fashion Retailers Inc. has extensive knowledge and expertise in men’s apparel, both in the wholesale and retail channels, and we believe they are the best company to market our brands in the Philippines.”
“We at BH Fashion Retailers Inc. are thrilled to be partnering with PVH Corp. as the licensee for the Van Heusen and IZOD brands in the Philippines. Van Heusen is established in our market as a purveyor of modern, stylish dresswear and sportswear. We look forward to raising the brand to even greater heights with reinvigorated merchandising and marketing. We are also very excited for the opportunity to provide our market the same colorful, sporty and youthful IZOD sportswear that has become so popular and well-recognized in the U.S.,” said Huy Kun Lim, President of BH Fashion Retailers Inc.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, Warner’s and Olga, and its licensed brands, including Speedo, 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 BH Fashion Retailers Inc. CEO Group of Companies is the parent company of BH Fashion Retailers Inc. and Corporate Apparel. Corporate Apparel has been the licensee of PVH Corp.’s ARROW brand in the Philippines since 2000. CEO Group of Companies has over 30 years of experience in the apparel industry and is considered a market leader. 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 PVH Corp.’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.
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