Calvin Klein, Inc., a wholly owned subsidiary of PVH Corp. (NYSE:PVH), and American Designer Fashion S.A. (“ADF”), an affiliated company of American Sportswear S.A., both part of the ASW Group, today announced that they have entered into a distribution and retail store license agreement for ADF to exclusively distribute Calvin Klein Jeans, Calvin Klein Underwear, and Calvin Klein white label product categories and accessories in Latin America (excluding Brazil and Mexico), as well as several Caribbean countries, and certain duty free rights in Brazil and Mexico.
Calvin Klein white label S'14 advertising campaign: © 2014 Mario Sorrenti
The agreement allows ADF to distribute men’s and women’s Calvin Klein Jeans apparel and accessories; Calvin Klein Underwear, including sleepwear and loungewear; and Calvin Klein white label sportswear, coats and other outerwear, swimwear, footwear, and small leather goods; women’s dresses, suits, and performance; and men’s suits, dress shirts, and ties in the territory.
The agreement grants ADF distribution rights throughout Latin America, excluding Brazil and Mexico, with the exception of certain duty free rights in both countries. Additionally, ADF has assumed the operations for 18 freestanding Calvin Klein Jeans and Calvin Klein Underwear stores in Chile, Colombia, Costa Rica, Panama, and Peru.
“As experts in the Latin American region, including as distributor for our sister company, Tommy Hilfiger, ASW Group represents the best partner for our Calvin Klein brands,” said Tom Murry, Chief Executive Officer, Calvin Klein, Inc. “We look forward to the opportunities this new arrangement brings to expand our businesses in this important growth market.”“It is an honor to incorporate Calvin Klein brands into our portfolio. Our vision is to leverage the strong global brand awareness of Calvin Klein and our current infrastructure and regional footprint in Latin America to successfully position Calvin Klein as one of the preeminent global designer brands in the fashion industry in the region. We are excited at the opportunity this agreement presents,” said Solly Azrak, CEO, ASW Group. Calvin Klein, Inc. is one of the leading fashion design and marketing studios in the world. It designs and markets women’s and men’s designer collection apparel and a range of other products that are manufactured and marketed through an extensive network of licensing agreements and other arrangements worldwide. Product lines under the various Calvin Klein brands include women’s dresses and suits, men's dress furnishings and tailored clothing, men’s and women's sportswear and bridge and collection apparel, golf apparel, jeanswear, underwear, fragrances, eyewear, women’s performance apparel, hosiery, socks, footwear, swimwear, jewelry, watches, outerwear, handbags, small leather goods, and home furnishings (including furniture). For more information, please visit calvinklein.com. 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. American Designer Fashion is the newly appointed Calvin Klein distributor for Latin America, excluding Brazil and Mexico, with the exception of certain duty free rights in both countries. It distributes Calvin Klein Jeans, Calvin Klein Underwear and Calvin Klein white label, including sportswear, coats and other outerwear, swimwear, footwear, and small leather goods; women’s dresses, suits, and performance; and men’s suits, dress shirts, and ties in the territory. It is an affiliated company of American Sportswear S.A., the first international licensee for the Tommy Hilfiger brand and its exclusive distributor in Latin America since 1986. ASW Group is the parent company of American Sportswear and American Designer Fashion. Headquartered in Panama City, Republic of Panama, it distributes a wide array of product categories including but not limited to sportswear, womenswear, denim, footwear, formal wear, handbags and accessories, underwear, swimwear among many others. In addition, it currently manages over 130 Tommy Hilfiger stores in the region, in several different formats including Tommy Hilfiger Denim and Tommy Hilfiger Kids and 18 Calvin Klein stores in Latin America, including Calvin Klein Jeans and Calvin Klein Underwear store formats. PVH CORP. 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 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 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 and distributors at wholesale and retail, and the extent of discounts and promotional pricing in which the Company's licensees and distributors and their 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 and distributors and their business partners sell or produce or planned to sell or produce products under a Company brand; (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 and distributors to market successfully products under, 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. IMAGE CREDIT: Calvin Klein white label S’14 advertising campaign: © 2014 Mario Sorrenti
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts