G-III Apparel Group, Ltd. Signs License for Ivanka Trump Brand
--Deal with IT Apparel II, LLC to begin with Spring/Summer 2014 Collection--
--Broad License Includes Women’s Sportswear, Dresses, Suits, Activewear, Jeanswear and Intimates--
NEW YORK--(BUSINESS WIRE)-- G-III Apparel Group, Ltd. (NasdaqGS:GIII) today announced that it has entered into a license agreement with IT Apparel II, an entity wholly owned by Ivanka Trump, a businesswoman, entrepreneur and celebrity to develop sportswear, dresses, suits, suit separates, sleepwear, active wear, jeanswear and intimates. The first collection of the Ivanka Trump brand, which is expected to include dresses and sportswear, will be distributed to department stores and better specialty stores in the United States, Canada and Mexico for Spring/Summer 2014.
Morris Goldfarb, Chairman and Chief Executive Officer of G-III, commented, “We are very excited to partner with Ivanka Trump on this inspiring collection of women’s apparel. The Ivanka Trump brand will capture the next generation of young, confident and sophisticated women as they make their mark on the world.”
Ivanka Trump added, “G-III has distinguished itself as a trusted partner for some of the world’s finest and most visible brands. We are confident that they share our vision for the future of our brand and business and look forward to a long and successful partnership.”
About G-III Apparel Group, Ltd.
G-III is a leading manufacturer and distributor of outerwear, dresses, sportswear, swimwear, beachwear and women's suits, as well as handbags and luggage, under licensed brands, our own brands and private label brands. G-III sells swimwear, accessories and resort wear under our own Vilebrequin brand. G-III also sells outerwear and dresses under our own Andrew Marc, Marc New York and Marc Moto brands and has licensed these brands to select third parties in certain product categories. G-III has fashion licenses under the Calvin Klein, Sean John, Kenneth Cole, Cole Haan, Guess?, Jones New York, Jessica Simpson, Vince Camuto, Nine West, Ellen Tracy, Tommy Hilfiger, Kensie, Mac & Jac, Levi's and Dockers brands and sports 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. Our other owned brands include Jessica Howard, Eliza J, Black Rivet, G-III, G-III Sports by Carl Banks and Winlit. G-III also operates retail stores under the Wilsons Leather, Vilebrequin, Andrew Marc and Calvin Klein Performance names.
About Ivanka Trump
As Executive Vice President of Development and Acquisitions, Ivanka Trump (@ivankatrump) is charged with the domestic and global expansion of the Trump Organization’s real estate footprint. Trump is involved with all aspects of the company’s real estate and hotel management initiatives and is the co-founder of the Trump® Hotel Collection. Trump is a principal of Ivanka Trump Fine Jewelry, a luxury diamond line launched in 2007. Trump’s brand portfolio also includes collections of footwear, handbags, outerwear, and most recently fragrance and sunglasses which will launch spring 2013. In 2009, Trump published her first book, a New York Times and Wall Street Journal Best Seller, The Trump Card. Trump previously worked as a project manager in the retail development division of Forest City Ratner Companies and received her bachelor’s degree in real estate from the Wharton School of Finance at the University of Pennsylvania, graduating cum laude. www.ivankatrump.com
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.
For G-III Apparel Group, Ltd.
James Palczynski, 203-682-8229
G-III Apparel Group, Ltd.
Wayne S. Miller, 212-403-0500
Chief Operating Officer
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