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Perry Ellis International Announces Licensing Agreement For Jack Nicklaus

Stocks in this article: PERY

MIAMI, Nov. 20, 2013 (GLOBE NEWSWIRE) -- (Nasdaq:PERY) – Perry Ellis International, Inc. (PEI) announced today that it has entered into an exclusive, long-term licensing agreement with Nicklaus International Brand Management to design, develop, manufacture and distribute men's and ladies' sportswear, tailored clothing and accessories under the Jack Nicklaus brand and Golden Bear icon. The licensed territories initially include the United States, Canada and Mexico.

"We are thrilled to feature Jack Nicklaus in our global portfolio of lifestyle brands. Jack personifies the meaning of a golf and sports icon, as well as a first-class gentleman and sportsman, and he continues to be an outstanding role model through his commitment to family and philanthropy," said Oscar Feldenkreis, president and chief operating officer of Perry Ellis International. "This partnership is evolving during a very exciting time in Perry Ellis International's golf history. As we take Jack's legacy to the next level, I am confident that the rich heritage associated with his brand will resonate with a broad and loyal fan base across the globe."

The addition of Jack Nicklaus represents a diversification strategy which enables Perry Ellis International to leverage its resources and core competencies in product, marketing, and operations to drive consistent growth and profitability.

"The success of Perry Ellis International's golf division emanates from our exceptional capability to offer quality, innovative products," commented George Feldenkreis, chairman and chief executive officer of Perry Ellis International. "We are focused on meeting customer needs across a variety of product categories, and each brand under our golf portfolio represents a unique lifestyle, directed toward a defined consumer, which diversifies our opportunities for long-term growth."

Nicknamed the 'Golden Bear,' Jack Nicklaus is widely regarded as a sports icon and the greatest champion in the history of game of golf, winning a record total of 18 professional major-championship titles, 73 official TOUR victories and 120 total victories worldwide.

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