NEW YORK, Feb. 6, 2017 /PRNewswire/ -- CIT Group Inc.
(NYSE: CIT), a leading provider of commercial lending and leasing
services, today announced that CIT Commercial Services was selected
as the sole provider of factoring services to AG Adriano
Goldschmied and its affiliate, Big Star. Both firms are either
owned by or affiliated with Koos Manufacturing, Inc., a
Los Angeles-based producer of
quality jeans that in the past has manufactured for brands such as
Abercrombie & Fitch, Gap, Banana Republic, J. Crew, Lucky Brand
and others. Terms of the program were not disclosed.
Samuel Ku, president of AG
Adriano Goldschmied, Inc., said, "CIT has a long history of
providing factoring services to fashion and apparel companies. It
understands the industry's fast moving trends and the need to
adjust offerings. The expertise of the CIT team combined with its
in-depth customer credit knowledge and service level is second to
none in the industry. The company's ability to handle our specialty
customer accounts and our major retailers was critical to our
selection."
Darrin Beer, western regional sales and portfolio manager for
CIT Commercial Services, said, "AG Jeans has evolved from an
exclusively premium denim brand to a contemporary lifestyle brand.
We're pleased we could tailor a factoring program to support the
continued growth of this premier Los
Angeles designer and manufacturer. We look forward to
growing this relationship."
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About AG Adriano Goldschmied and Big Star
AG Adriano
Goldschmied and Big Star are either owned by or affiliated with
Koos Manufacturing, Inc., a Los
Angeles-based producer of quality jeans that has in the past
manufactured for brands such as Abercrombie & Fitch, Gap,
Banana Republic, J. Crew, Lucky Brand and others. There are more
than 10 AG stores and four AG Outlets. Koos operates manufacturing
facilities in Los Angeles and
Mexico.
www.agjeans.com or www.bigstardenim.com
About CIT
Founded in 1908, CIT (NYSE: CIT) is a
financial holding company with more than $65
billion in assets. Its principal bank subsidiary, CIT Bank,
N.A., (Member FDIC, Equal Housing Lender) has more than
$30 billion of deposits and more than
$40 billion of assets. It provides
financing, leasing, and advisory services principally to
middle-market companies across a wide variety of industries
primarily in North America, and
equipment financing and leasing solutions to the transportation
sector. It also offers products and services to consumers through
its Internet bank franchise and a network of retail branches in
Southern California, operating as
OneWest Bank, a division of CIT Bank, N.A. cit.com
CIT MEDIA
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CIT INVESTOR
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Matt
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Barbara
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Director
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Senior Vice
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(973)
597-2020
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(973)
740-5058
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Matt.Klein@cit.com
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Barbara.Callahan@cit.com
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Laura
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Vice
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(212) 461
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Laura.Powers@cit.com
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SOURCE CIT Group Inc.