About OverlandEstablished in 1987, Overland is a specialist in the design, sourcing and wholesale of branded men’s and women’s footwear. Since 2005 Overland has been the global footwear licensee for the European denim brand G-Star Raw. Previously, Overland has been a licensee involved in building footwear businesses for such prestigious brands as CAT ®, Paul Smith, Frye, Merrell, and Wolverine. Overland’s headquarters are in London, England. Statements concerning G-III’s business outlook or future economic performance, anticipated revenues, expenses or other financial items; product introductions and plans and objectives related thereto; and statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters are “forward-looking statements” as that term is defined under the Federal Securities laws. Forward-looking statements are subject to risks, uncertainties and factors which include, but are not limited to, reliance on licensed product, reliance on foreign manufacturers, risks of doing business abroad, the current economic and credit environment, the nature of the apparel industry, including changing customer demand and tastes, customer concentration, seasonality, risks of operating a retail business, customer acceptance of new products, the impact of competitive products and pricing, dependence on existing management, possible disruption from acquisitions and general economic conditions, as well as other risks detailed in G-III’s filings with the Securities and Exchange Commission. G-III assumes no obligation to update the information in this release.
G-III Apparel Group, Ltd. (NASDAQ:GIII) announced today that it has entered into a multi-year wholesale license agreement with UK based Overland Ltd. for the sale of men’s, women’s and children’s footwear under the G.H. Bass and related brands in Europe. Overland plans to sell G.H. Bass footwear primarily to department and specialty stores beginning in the fall of 2014. A companion agreement also enables Overland to operate retail locations throughout Europe. This latest agreement marks the second license that G-III has entered into since acquiring G.H. Bass from PVH Corp. in November 2013. Earlier this year, G-III announced a multi-year license with PVH Corp. for G.H. Bass better men’s sportswear for department store distribution throughout North America. Morris Goldfarb, Chairman, Chief Executive Officer and President of G-III, commented, “We are pleased to partner with a best in class organization such as Overland to bring this American heritage brand into the global market. Overland’s vast experience gives us a strong foundation as we take advantage of opportunities to grow G.H. Bass in these important markets.” Stephen Palmer, Chairman, and Chief Executive Officer of Overland, commented, “We look forward to working with G-III to build the G.H. Bass brand and business into a global franchise. We are confident that we can develop and build wholesale distribution and retail stores throughout Europe.” About G-III Apparel Group, Ltd. G-III is a leading manufacturer and distributor of outerwear, dresses, sportswear, swimwear, women’s suits and women’s performance wear, as well as footwear, luggage and women’s handbags, small leather goods and cold weather accessories, under licensed brands, owned brands and private label brands. G-III sells swimwear, resort wear and related accessories under our own Vilebrequin brand. G-III also sells outerwear, dresses and performance wear under the Andrew Marc and Marc New York brands. G-III has fashion licenses under the Calvin Klein, Kenneth Cole, Cole Haan, Guess?, Tommy Hilfiger, Jones New York, Jessica Simpson, Vince Camuto, Ivanka Trump, Nine West, Ellen Tracy, Kensie, Levi’s and Dockers brands. Through its team sports business, the company maintains licenses with the National Football League, National Basketball Association, Major League Baseball, National Hockey League, Touch by Alyssa Milano and more than 100 U.S. colleges and universities. Other owned brands include Bass, G.H. Bass, Eliza J, Black Rivet and Jessica Howard. G-III also operates retail stores under the Wilsons Leather, Bass, G.H. Bass & Co., Vilebrequin, Calvin Klein Performance and Andrew Marc names.