Warnaco Accelerates Launch of Calvin Klein Women's Swimwear in North America
26 May 2005 - 1:34AM
PR Newswire (US)
Warnaco Accelerates Launch of Calvin Klein Women's Swimwear in
North America NEW YORK, May 25 /PRNewswire-FirstCall/ -- The
Warnaco Group, Inc. (NASDAQ:WRNC) today announced it entered into
agreements with Swimwear Anywhere, Inc. (the former licensee of
Calvin Klein women's swimwear in North America) and Calvin Klein,
Inc., a wholly owned subsidiary of Phillips-Van Heusen Corporation
[NYSE: PVH], to accelerate the Company's launch of Calvin Klein
women's swimwear in North America. Under its existing agreement
with Calvin Klein, Inc., Warnaco was not expected to market this
collection in North America until Cruise 2008. Warnaco will present
its initial collection at the Miami International Swim Show in July
2005, for delivery during the upcoming Cruise 2006 season. Roger
Williams, President of Warnaco's Swimwear Group, said, "We look
forward to our introduction of Calvin Klein women's swimwear in
North America. We now hold the exclusive worldwide rights to
distribute Calvin Klein women's swimwear. Adding the signature
Calvin Klein brand to the Swimwear Group's industry leading
portfolio of brands will further increase the scale and broaden the
reach of this operating segment." "We are pleased with the swift
acceleration of the launch of the women's global swimwear license
with Warnaco. We anticipate important potential synergies to be
created by consolidating this business within Warnaco's Swimwear
Group," said Tom Murry, President and Chief Operating Officer,
Calvin Klein, Inc. About The Warnaco Group, Inc. The Warnaco Group,
Inc., headquartered in New York, is a leading apparel company
engaged in the business of designing, marketing and selling
intimate apparel, menswear, jeanswear, swimwear, men's and women's
sportswear and accessories under such owned and licensed brands as
Warner's(R), Olga(R), Lejaby(R), Body Nancy Ganz(TM), Speedo(R),
Anne Cole Collection(R), Ocean Pacific(R), Cole of California(R)
and Catalina(R) as well as Chaps(R) sportswear and denim, J. Lo by
Jennifer Lopez(R) lingerie, Nautica(R) swimwear, Michael Kors(R)
swimwear and Calvin Klein(R) men's and women's underwear, men's
accessories, men's, women's, junior women's and children's jeans
and women's and juniors swimwear. About Calvin Klein, Inc. Calvin
Klein, Inc. is one of the leading fashion design and marketing
studios in the world. It designs and markets women's and men's
designer collection apparel and a range of other products that are
manufactured and marketed through an extensive network of licensing
agreements and other arrangements worldwide. Brands/lifestyles
include Calvin Klein Collection, ck Calvin Klein, Calvin Klein,
Calvin Klein Jeans and Choice Calvin Klein. Product lines under the
various Calvin Klein brands include apparel, accessories, shoes,
underwear, sleepwear, hosiery, socks, swimwear, eyewear, watches,
jewelry, coats, and fragrances, as well as products for the home.
About Phillips Van-Heusen Corporation. Phillips-Van Heusen
Corporation is one of the world's largest apparel companies. It
owns and markets the Calvin Klein brand worldwide. It is the
world's largest shirt company and markets a variety of goods under
its own brands, Van Heusen, Calvin Klein, IZOD, Arrow, and G.H.
Bass & Co., and its licensed brands Geoffrey Beene, Kenneth
Cole New York, Reaction Kenneth Cole, BCBG Max Azria, BCBG
Attitude, MICHAEL Michael Kors, Sean Jean, Chaps, and Donald J.
Trump Signature. FORWARD-LOOKING STATEMENTS This press release, as
well as certain other written, electronic and oral disclosure made
by Warnaco from time to time, contains "forward-looking statements"
within the meaning of Rule 3b-6 under the Securities Exchange Act
of 1934, as amended, Rule 175 under the Securities Act of 1933, as
amended, and relevant legal decisions. The forward-looking
statements involve risks and uncertainties and reflect, when made,
the Company's estimates, objectives, projections, forecasts, plans,
strategies, beliefs, intentions, opportunities and expectations.
Actual results may differ materially from anticipated results or
expectations and investors are cautioned not to place undue
reliance on any forward-looking statements. Statements other than
statements of historical fact are forward-looking statements. These
forward-looking statements may be identified by, among other
things, the use of forward- looking language, such as the words
"believe," "anticipate," "estimate," "expect," "intend," "may,"
"project," "scheduled to," "seek," "should," "will be," "will
continue," "will likely result," or the negative of those terms, or
other similar words and phrases or by discussions of intentions or
strategies. The following factors, among others and in addition to
those described in Warnaco's reports filed with the SEC (including,
without limitation, those described under the heading "Statement
Regarding Forward-Looking Disclosure," as it may be modified or
supplemented from time to time, in such reports), could cause the
Company's actual results to differ materially from those expressed
in any forward-looking statements made by it: economic conditions
that affect the apparel industry; the Company's failure to
anticipate, identify or promptly react to changing trends, styles,
or brand preferences; further declines in prices in the apparel
industry; declining sales resulting from increased competition in
the Company's markets; increases in the prices of raw materials;
events which result in difficulty in procuring or producing the
Company's products on a cost-effective basis; the effect of laws
and regulations, including those relating to labor, workplace and
the environment; changing international trade regulation, including
as it relates to the imposition or elimination of quotas on imports
of textiles and apparel; the Company's ability to protect its
intellectual property or the costs incurred by the Company related
thereto; the Company's dependence on a limited number of customers;
the Company's dependence on the reputation of its brand names; the
Company's exposure to conditions in overseas markets in connection
with the Company's foreign operations and the sourcing of products
from foreign third-party vendors; the Company's foreign currency
exposure; unanticipated internal control deficiencies or weaknesses
or ineffective disclosure controls and procedures; and the
sufficiency of cash to fund operations, including capital
expenditures. In addition, Warnaco encourages investors to read the
discussion of the Company's critical accounting policies under
"Management's Discussion and Analysis of Financial Condition and
Results of Operations -- Discussion of Critical Accounting
Policies" contained in the Company's Annual Report on Form 10-K for
the year ended January 1, 2005, as such discussion may be modified
or supplemented by subsequent reports that the Company files with
the SEC. The discussion in this press release is not exhaustive but
is designed to highlight important factors that may affect actual
results. Forward-looking statements speak only as of the date on
which they are made, and, except for the Company's ongoing
obligation under the U.S. federal securities laws, the Company
disclaims any intention or obligation to update or revise any
forward- looking statements, whether as a result of new
information, future events or otherwise. DATASOURCE: The Warnaco
Group, Inc. CONTACT: Investors - Deborah Abraham, Director,
Investor Relations of The Warnaco Group, Inc., +1-212-287-8289 Web
site: http://www.warnaco.com/
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