Perry Ellis International, Inc. (NASDAQ: PERY) (“the Company”) announced
that it has amended and expanded its license agreement to design,
manufacture and distribute apparel and related accessories with Callaway
Golf Co. (NYSE:ELY). The Company will assume all distribution channels
in the western hemisphere (US/Canada/Caribbean/Mexico/Central & Latin
America) including sporting goods, national accounts, green grass,
tournaments, specialty golf stores, and e-commerce channels. The Company
will continue to service better department & specialty stores, and the
corporate wear market as per its original agreement with Callaway.
Oscar Feldenkreis, President and COO of Perry Ellis International
commented, “The expansion of our agreement with Callaway strengthens the
partnership between our leading brands and marks yet another milestone
for our Company as we expand the scope and reach of our golf lifestyle
apparel offering on an international basis.”
“Combining the strength of Callaway’s brand around the world with our
expertise in developing new geographies and channels of distribution
presents unprecedented growth potential. We look forward to continuing a
long and mutually beneficial partnership,” continued Mr. Feldenkreis.
Both Companies are working collectively on the transition of servicing
these new geographies and channels of distribution. The Company also
noted that it anticipates for this transaction to be accretive to fiscal
2014 earnings per share.
“The Callaway Golf and Perry Ellis International partnership has grown
in scope and trust over the last several years,” said John Melican, SVP
Global Soft Goods, Callaway Golf. “This expansion represents another
step forward in the global distribution of what we feel is the best line
of authentic and performance-driven golf apparel available.”
About Perry Ellis International
Perry Ellis International, Inc. is a leading designer, distributor and
licensor of a broad line of high quality men's and women's apparel,
accessories and fragrances, as well as select children's apparel. The
Company's collection of dress and casual shirts, golf sportswear,
sweaters, dress pants, casual pants and shorts, jeans wear, active wear,
dresses and men's and women's swimwear is available through all major
levels of retail distribution. The Company, through its wholly owned
subsidiaries, owns a portfolio of nationally and internationally
recognized brands, including: Perry Ellis(R), Jantzen(R), Laundry by
Shelli Segal(R), C&C California(R), Rafaella(R), Ben Hogan(R),
Cubavera(R), Centro(R), Solero(R), Munsingwear(R), Savane(R), Original
Penguin(R) by Munsingwear(R), Grand Slam(R), Natural Issue(R), Pro
Player(R), the Havanera Co.(R), Axis(R), Tricots St. Raphael(R),
Gotcha(R), Girl Star(R), MCD(R), John Henry(R), Mondo di Marco(R),
Redsand(R), Manhattan(R), Axist(R), Farah(R), Anchor Blue(R) and
Miller's Outpost(R). The Company enhances its roster of brands by
licensing trademarks from third parties, including: Pierre Cardin(R) for
men's sportswear, Nike(R) and Jag(R) for swimwear, and Callaway(R),
TOP-FLITE(R), PGA TOUR(R) and Champions Tour(R) for golf apparel.
Additional information on the Company is available at http://www.pery.com.
About Callaway Golf
Through an unwavering commitment to innovation, Callaway Golf Company
(NYSE:ELY) creates products and services designed to make every golfer a
better golfer. Callaway Golf Company manufactures and sells golf clubs
and golf balls, and sells golf apparel, footwear and accessories, under
the Callaway Golf®, Odyssey®, and Top-Flite® brands in more than 110
countries worldwide. For more information please visit www.callawaygolf.com
or shop.callawaygolf.com.
Safe Harbor Statement
We caution readers that the forward-looking statements (statements which
are not historical facts) in this release are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of
1995. Forward-looking statements are based on current expectations
rather than historical facts and they are indicated by words or phrases
such as "anticipate," "believe," "budget," "contemplate," "continue,"
"could," "estimate," "expect," "guidance," "indicate," "intend," "may,"
"might," "plan," "possibly," "potential," "predict," "probably,"
"proforma," "project," "seek," "should," "target," or "will" and similar
words or phrases or comparable terminology. We have based such
forward-looking statements on our current expectations, assumptions,
estimates and projections. While we believe these expectations,
assumptions, estimates and projections are reasonable, such
forward-looking statements are only predictions and involve known and
unknown risks and uncertainties, and other factors that may cause actual
results, performance or achievements to be materially different from any
future results, performance or achievements expressed or implied by such
forward-looking statements, many of which are beyond our control. These
factors include: general economic conditions, a significant decrease in
business from or loss of any of our major customers or programs,
anticipated and unanticipated trends and conditions in our industry,
including the impact of recent or future retail and wholesale
consolidation, recent and future economic conditions, including turmoil
in the financial and credit markets, the effectiveness of our planned
advertising, marketing and promotional campaigns, our ability to contain
costs, disruptions in the supply chain, our future capital needs and our
ability to obtain financing, our ability to protect our trademarks, our
ability to integrate acquired businesses, trademarks, trade names and
licenses, our ability to predict consumer preferences and changes in
fashion trends and consumer acceptance of both new designs and newly
introduced products, the termination or non-renewal of any material
license agreements to which we are a party, changes in the costs of raw
materials, labor and advertising, our ability to carry out growth
strategies including expansion in international and direct to consumer
retail markets, the level of consumer spending for apparel and other
merchandise, our ability to compete, exposure to foreign currency risk
and interest rate risk, possible disruption in commercial activities due
to terrorist activity and armed conflict, and other factors set forth in
Perry Ellis International's filings with the Securities and Exchange
Commission. Investors are cautioned that all forward-looking statements
involve risks and uncertainties, including those risks and uncertainties
detailed in Perry Ellis' filings with the SEC. You are cautioned not to
place undue reliance on these forward-looking statements, which are
valid only as of the date they were made. We undertake no obligation to
update or revise any forward-looking statements to reflect new
information or the occurrence of unanticipated events or otherwise.
