Van heusen corporation for its north american apparel discounted michael kors bags products
The timberland company(Nyse:Tbl)Today announced that it has entered into a five year licensing agreement with phillips van heusen(Nyse:Pvh)For the design, sourcing and marketing of apparel in north america under the timberland([R])Brand, beginning with the fall 2008 line.Timberland will continue to design, source and market timberland([R])Apparel for its european and asian operations through its london based design center.Excluded from the agreement with phillips van heusen are timberland([R])Outdoor performance apparel, which timberland will continue to design, source and market worldwide, as well as timberland pro([R])Apparel, which is the subject of an exclusive license agreement with block corporation for the united states and canada, announced by timberland earlier this week.
Jeffrey swartz, timberland president and ceo said,"We are pleased to enter into this agreement with a powerful partner like phillips van heusen.They have the capabilities to help us maximize our brand potential through an improved apparel offering and strengthened distribution under the timberland([R])Label.With their impressive portfolio of high quality premium brands and our shared commitment to responsible manufacturing, i believe we are poised for success. "
Emanuel chirico, chief executive officer of phillips van heusen corporation, added,"This is a very exciting partnership for both companies who have shared corporate values.We believe that we are uniquely positioned to partner with timberland to grow this iconic authentic american outdoor brand in the apparel cheap michael kors bags arena. "
Under the terms of the licensing agreement, pvh will design, source and market apparel in north america under the timberland([R])Brand.Timberland revenues for its north american wholesale apparel business in 2006 were approximately $70 million.Timberland will incur a pre tax restructuring charge in the range of $4 million in 2007 to cover severance, outplacement services and asset disposal costs associated with implementation of this strategy.Timberland markets products under the timberland([R]), Timberland PRO([R]), SmartWool([R]), Timberland Boot Company[TM], Miyn[TM], GoLite([R])And howies([R])Brands, all of which offer quality workmanship and detailing and are built to withstand the elements of nature.The company's products can be found in leading department and specialty stores as well as timberland([R])Retail stores throughout north america, europe, asia, latin america, south africa and the middle east. It owns and markets the Calvin KleinBrand worldwide.Bass co. , and its michael kors cheap bags licensedBrands, including Geoffrey Beene, Kenneth Cole New York, Kenneth Cole Reaction, unlisted, A Kenneth Cole Production, BCBG Max Azria, BCBG Attitude, MICHAEL Michael Kors, Sean John, Chaps, Donald J.Trump signature collection, joe joseph abboud, tommy hilfiger, and perry ellis.
ThIs press release contaIns certaIn forward lookIng statements wIthIn the meanIng of the"Safe harbor"ProVisIons of the prIVate securItIes lItIgatIon reform act of 1995.These forward lookIng statements, whIch Include statements regardIng the tImberland company's future fInancIal results, are subject to rIsks, uncertaIntIesAndassumptIonsAndare not guarantees of future fInancIal performance or expected benefIts.These rIsks, uncertaIntIesAndassumptIons could cause the results of the tImberland company to be materIally dIfferent from michael kors leopard wallets any future results or expected benefIts expressed or ImplIed by such forward lookIng statements.Such rIsks, uncertaIntIesAndassumptIons Include, but are not lImIted to: (I)The company's ability to successfully marketAndsell its products in a highly competitIVe industryAndin View of changing consumer trends, consumer acceptance of productsAndother factors affecting retail market conditions; (Ii)The company's ability to profitably sell certain footwear products in european member states in light of anti dumping dutiesAndmeasures imposed by the european commission with respect to leather footwear imported from chinaAndVietnam; (Iii)Timberland's ability to procure a majority of its products from independent manufacturers; (IV)Changes in foreign exchange rates; (V)Timberland's ability to obtain adequate materials at competitive prices;And(Vi)Other factors, including those detailed from time to time in the timberland company's filings made with the sec.The timberland company undertakes no obligation to update publicly any forward looking statements, whether as a result of new information, future events or otherwise.
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