Leading international marketer of apparel, offering a diverse portfolio of brands through multiple distribution channels Perry Ellis International Inc announced that it had reached an agreement in principle with Levi Strauss & Co. for the manufacture and distribution of Dockers men's cloth outerwear in the United States and Mexico.
The line encompasses men's jackets, coats and synthetic fleece. Perry Ellis will begin delivery of product by June 2006 into select chain and specialty stores. Perry Ellis anticipates that the agreement will have a neutral impact on earnings for fiscal 2007, but will be accretive to earnings in subsequent years.
The parties have agreed in principle to terms of distribution through December 2009, with a potential renewal period until December 2012.
"We are excited about this platform to grow the outerwear business for one of the best names in fashion and we are proud of our association with Levi Strauss & Company. Dockers is a great world class brand that represents the American lifestyle," said Perry Ellis International Chairman and CEO, George Feldenkreis. "We plan to take advantage of synergies in production cycles and other functions with our swimwear business, as the swimwear buyers often make purchases of both categories."
Perry Ellis International President and COO, Oscar Feldenkreis remarked, "We plan to operate this group as a separate business unit with an experienced group of designers in Seattle, who fully understand the outerwear category and were able to build a great outerwear company. We will leverage our core competencies in sourcing, planning and sales management to maximize this opportunity."
marketing@alchempro.com
