PVH Corp. (NYSE: PVH) announced that it had entered into a license agreement with Leisure Brands (Pty) Ltd. under which Leisure Brands will distribute, sell and promote men’s sportswear, golf apparel and related accessories under the IZOD and IZOD Golf brands throughout South Africa. The partnership will leverage Leisure Brands’ established positioning within the South African golf apparel market, as well as its operational expertise in the region. The initial term of the license agreement runs through December 2016.
Under the agreement, Leisure Brands has the rights to sell, distribute and promote IZOD products including men’s denim pants and shorts in 5-pocket construction, men’s headwear, men’s belts, men’s socks and umbrellas, as well as the rights to manufacture, sell, distribute and promote men’s sportswear, golf apparel and specified golf accessories. The license permits Leisure Brands to sell such products in specialty stores, department stores and company-operated IZOD freestanding stores.
“We are thrilled to expand the IZOD brand’s distribution into South Africa,” commented Ken Wyse, President of Licensing for PVH Corp. “We selected Leisure Brands as our partner for this next avenue of growth for the brand, given their positioning as the leading marketer and distributor of golf apparel in South Africa and their understanding of the region and its consumer base. We are excited about the opportunities to grow IZOD with Leisure Brands and we look forward to working together to build a successful presence in South Africa.”
Malcolm Stewart, Managing Director of Leisure Brands, commented “We are extremely pleased to be partnering with PVH Corp. to launch the IZOD and IZOD Golf labels which will boost our business into the youthful and style-conscious golf and leisure market. The IZOD brand brings with it an indelible reputation of on-trend American fashion, vivid colours, quality and value for money which we believe will be very well received in the South African market.”About PVH 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, Joseph Abboud, DKNY, Ike Behar and John Varvatos. About Leisure Brands (Pty) Ltd. Leisure Brands (Pty) Ltd. is South Africa’s leading marketer and distributor of golf apparel. The company has more than 20 years’ experience in establishing and developing top international apparel brands and has an extensive distribution into leading retail golf chains and green grass outlets.
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