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What does the deal mean?
Perry Ellis International, Inc. (Nasdaq:PERY) announced today that it has entered into a license agreement with BMI Wholesale Trading Private Limited granting rights for the Original Penguin by Munsingwear brand in India to be sold through specialty retail, department stores and online sites.
The Original Penguin brand is a youth culture icon that represents a mix of American Sportswear and contemporary fashion appealing to a style-savvy consumer who while detail oriented does not take fashion too seriously. The Original Penguin brand is one of the most recognizable consumer brands with product sold internationally through company-owned retail stores, major retailers and specialty stores.
“We are delighted with the potential this collaboration with a true leader in the Indian apparel industry offers in bringing Original Penguin to India. Perry Ellis International expansion is a key strategic initiative and entering this important market with an experienced operating partner like BMI is an important step in furthering our global ambitions,” commented George Feldenkreis, Chairman and Chief Executive Officer.
Vijay Murjani, Director of BMI said, “We are very pleased to partner with Perry Ellis International for the launch of Original Penguin in India. We firmly believe that Original Penguin, with its iconic American sportswear and contemporary fashion appeal, will be the perfect addition to the premium menswear apparel market in India.
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. 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.
About BMI
BMI Wholesale Trading Private Limited (BMI) and its founders are responsible for the launch and development of the Tommy Hilfiger, Calvin Klein Jeans, Calvin Klein Underwear and French Connection businesses in India. The company has opened over 350 points of sales across 32 Indian cities over the last six years.
