As announced on November 2, 2006, Kenneth Cole Productions (LIC) Inc and Paul Davril Inc (PDI) had agreed to terminate the license agreement between them for Kenneth Cole New York men's and women's sportswear effective December 31, 2007.
It is the company's belief that taking full control over the development and production of this signature merchandise will enhance both the presentation of its full price retail stores and the line's future wholesale distribution.
KCP is now announcing that it has reached an agreement with PDI to end its license agreement for Kenneth Cole Reaction men's sportswear at the end of 2007. The company is looking forward to assuming control over this business in January 2008 and is creating a wholesale apparel division to design, source and market the Kenneth Cole Reaction men's sportswear collection.
The company is simultaneously considering proposals to enter into a strategic licensing arrangement or similar venture with a new partner. In either scenario, KCP's involvement will be significantly enhanced and the company is firmly committed to continuing and expanding the success of the Kenneth Cole Reaction men's sportswear line.
Kenneth Cole Productions Inc
marketing@alchempro.com
