Tarrant Apparel Group Signs License Agreement With Beyonce and
Tina Knowles' Clothing Line, House of Dereon
LOS ANGELES, Jan. 26 /PRNewswire-FirstCall/ -- Tarrant Apparel Group
(NASDAQ:TAGS), a leading provider of private label and private brand casual
apparel, today announced that its wholly-owned subsidiary, Private Brands Inc.,
has signed an exclusive license agreement with Beyond Productions and Kids
Headquarters to collaborate on the design, manufacturing and distribution of
House of Dereon brand apparel, founded by Beyonce Knowles and her mother, Tina
Knowles. The young contemporary women's line, which is expected to launch in
time for holiday delivery at better specialty stores worldwide, will feature
ready-to-wear, casual sportswear, and denim offerings.
Barry Aved, President and CEO of Tarrant Apparel Group, commented, "House of
Dereon adds a very exciting new dimension to our growing portfolio of private
brands, which includes American Rag, Cie, Alain Weitz large sizes, and Gear 7
brands. With the addition of the Knowles' family inspired apparel, our private
brand strategy will reach another consumer through a new distribution channel. Beyonce will have an active role in supporting and marketing the brand and we
look forward to working with her and her mother. We are confident that
Beyonce's international popularity coupled with our strength in brand
development will generate unique, fashion forward clothing for contemporary
young women worldwide." "Jason Rabin, Cory Silverstein, and I worked closely to conduct a very thorough
search to find the company that not only would best represent our professional
interests but also was a well-respected brand in the industry. We wanted a
company that would share our vision and meet our expectations for the launch of
House of Dereon. We feel that Tarrant Apparel Group really understands our
creative inspiration and will handle efficiently the production and
distribution of the line," Tina Knowles said.
Beyonce Knowles commented, "It is such a rewarding feeling to be part of
something that both my mother and I really believe in. I hope that everybody
loves the clothing as much as we do; we have really put our hearts into
developing these fashions." Tarrant Apparel Group serves specialty retailers, mass merchants, national
department stores, and branded wholesalers by designing, merchandising,
contracting for the manufacture of, and selling casual and well-priced apparel
for women, men, and children.
Beyond Productions, LLC was founded in May 2004 by Tina and Beyonce Knowles,
Jason and Arthur Rabin and Cory Silverstein of Wear Me Apparel/Kids
Headquarters. The partnership will provide the infrastructure for licensing and
brand management to House of Dereon. This collaboration was orchestrated by
Tina and Beyonce Knowles who wanted to bring trend-setting style and a creative
take on fashion to stylish women everywhere. The design alliance features three
co-creative directors, Beyonce and Tina Knowles, and Heather Thomson Schindler.
Except for historical information contained herein, the statements in this
release are forward-looking and made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995. Forward-looking
statements are inherently unreliable and actual results may differ materially. Examples of forward looking statements in this news release include the
anticipated consummation of the financing transaction in December of 2004 and
the Company's intended use of the proceeds from the financing transaction. Factors which could cause actual results to differ materially from these
forward-looking statements include satisfaction of conditions to closing of the
financing transaction, including conditions that are outside of the parties'
control such as approval of the transaction by the Company's senior secured
lenders, and unexpected liabilities or obligations which become due. There can
be no assurance that these conditions will be satisfied, that the sale
transaction will be consummated or that the Company will use the proceeds from
the financing transaction as anticipated. The Company undertakes no obligation
to publicly update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. DATASOURCE: Tarrant Apparel Group CONTACT: Investor Relations for Tarrant Apparel Group, Melissa Myron or Lila Sharifian, +1-212-850-5600; Hampton Carney, , or Dara Cooley,, both of Paul Wilmot Communications for House of Dereon, +1-212-206-7447
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