Tarrant Apparel Group Signs License Agreement With Jessica
Simpson
LOS ANGELES, Jan. 5 /PRNewswire-FirstCall/ -- Tarrant Apparel Group
(NASDAQ:TAGS), a leading provider of private label and private brand casual
apparel, today announced that the Company has signed an exclusive license
agreement with J.S. Brand Management, owned by Andrew Sport, to design,
manufacture, and distribute Jessica Simpson branded jeans and casual apparel in
missy, junior, and large sizes. The lines are expected to launch at the
department store/better specialty store level for fall 2005.
Barry Aved, President and CEO of Tarrant Apparel Group, commented, "Jessica
Simpson apparel is a fabulous addition to our portfolio and furthers our
private brand strategy. We believe Jessica's worldwide appeal combined with our
expertise in brand development will result in an original and spirited
lifestyle brand. Jessica Simpson will join our other private brands including
American Rag, Cie, which is distributed exclusively by Federated Department
Stores, Alain Weitz large sizes, Cynthia Rowley, and Gear 7, which is sold in
K-Mart stores." 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.
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: Corazon Reyes, Chief Financial Officer, Tarrant Apparel Group, +1-323-780-8250; Melissa Myron or Lila Sharifian, Investor Relations, +1-212- 850-5600, for Tarrant Apparel Group
|