MIAMI, May 21, 2013 (GLOBE NEWSWIRE) -- Perry Ellis International (PEI) (Nasdaq:PERY) announced today that it has entered into a license agreement with Delta Galil Industries USA, granting rights for Original Penguin by Munsingwear men's underwear and sleepwear for the U.S. and Canada. Original Penguin, one of the most recognizable brands in the PEI power portfolio, is known for its modern vintage-inspired designs and the iconic Penguin logo. The brand is sold internationally through company-owned retail stores, major retailers and specialty stores, as well as on www.OriginalPenguin.com.
Under the agreement, Delta Galil will develop, produce and distribute Original Penguin men's underwear and loungewear. Some of the initial collection will hit stores as early as Holiday 2013, making a great add-on option for the gift-giving season, while the first complete collection will be launched for Spring 2014. Distribution will include Original Penguin retail stores as well as better department and specialty stores in the U.S. and Canada.
"Delta Galil is an industry leader in its category and the perfect partner for bringing the quality and aesthetic of the Original Penguin brand to life through these exciting product extensions," said Oscar Feldenkreis. "Known for their strength in design, product and material innovation, we look forward to working with the Delta team as we continue to extend Original Penguin's fashion influence around the globe."
This agreement adds a new product category for the must-have brand. Delta Galil is the producer of some of the most successful private label underwear lines in the world. A global manufacturer and marketer of socks, underwear and intimates for men, women and children, Delta Galil is renowned for its "body-before-fabric" philosophy which places equal emphasis on comfort, aesthetics and quality.
"An icon of classic American style, the Original Penguin brand strengthens our licensed portfolio and furthers our strategy in the intimate apparel marketplace," said Isaac Dabah, CEO of Delta Galil. "We are excited to be partnering with Perry Ellis International and the Original Penguin team as we create a new and differentiated collection that reflects the heritage and spirit of the brand."
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, as well as select children's apparel. 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. The Company, through its wholly owned subsidiaries, owns a portfolio of nationally and internationally recognized brands, including: Perry Ellis®, Jantzen®, Laundry by Shelli Segal®, C&C California®, Rafaella®, Cubavera®, Ben Hogan®, Centro®, Munsingwear®, Savane®, Original Penguin® by Munsingwear®, Grand Slam®, Natural Issue®, Pro Player®, the Havanera Co.®, Gotcha®, MCD®, John Henry®, Mondo di Marco®, Redsand®, Manhattan®, Axist®, Farah®, Anchor Blue®, Miller's Outpost®, Tahoe River Outfitters®, Original Khaki Company® and Techworks®. The Company enhances its roster of brands by licensing trademarks from third parties, including: Nike® and Jag® for swimwear, and Callaway®, PGA TOUR® and Champions Tour® for golf apparel. Additional information on the Company is available at http://www.pery.com.
About Original Penguin® by Munsingwear®
In 1955, Minneapolis-based Munsingwear® – an underwear and military supply company – ironically became the touchstone of suburban sport with the introduction of the first iconic golf shirt to America – an ORIGINAL PENGUIN®. Original Penguin has grown into a complete lifestyle brand creating classic sportswear apparel and accessory collections for men, women and boys who love great style and smart clothing. Currently, Original Penguin has 44 stores worldwide. Online at: www.OriginalPenguin.com.
About Delta Galil US
Delta Galil Industries is a global manufacturer and marketer of branded and private label apparel products for men, women and children. Since its inception in 1975, the Company has continually strived to create products that follow a body-before-fabric philosophy, placing equal emphasis on comfort, aesthetics and quality. Delta Galil develops innovative socks, seamless apparel including bras, shapewear; intimate apparel for women; extensive lines of underwear for men; babywear, activewear, sleepwear, and leisurewear. For more information, visit www.deltagalil.com.
Safe Harbor Statement
We caution readers that the forward-looking statements (statements which are not historical facts) in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations rather than historical facts and they are indicated by words or phrases such as "anticipate," "believe," "budget," "contemplate," "continue," "could," "estimate," "expect," "guidance," "indicate," "intend," "may," "might," "plan," "possibly," "potential," "predict," "probably," "proforma," "project," "seek," "should," "target," or "will" and similar words or phrases or comparable terminology. We have based such forward-looking statements on our current expectations, assumptions, estimates and projections. While we believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, many of which are beyond our control. These factors include: general economic conditions, a significant decrease in business from or loss of any of our major customers or programs, anticipated and unanticipated trends and conditions in our industry, including the impact of recent or future retail and wholesale consolidation, recent and future economic conditions, including turmoil in the financial and credit markets, the effectiveness of our planned advertising, marketing and promotional campaigns, our ability to contain costs, disruptions in the supply chain, our future capital needs and our ability to obtain financing, our ability to protect our trademarks, our ability to integrate acquired businesses, trademarks, trade names and licenses, our ability to predict consumer preferences and changes in fashion trends and consumer acceptance of both new designs and newly introduced products, the termination or non-renewal of any material license agreements to which we are a party, changes in the costs of raw materials, labor and advertising, our ability to carry out growth strategies including expansion in international and direct to consumer retail markets, the level of consumer spending for apparel and other merchandise, our ability to compete, exposure to foreign currency risk and interest rate risk, possible disruption in commercial activities due to terrorist activity and armed conflict, and other factors set forth in Perry Ellis International's filings with the Securities and Exchange Commission. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those risks and uncertainties detailed in Perry Ellis' filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which are valid only as of the date they were made. We undertake no obligation to update or revise any forward-looking statements to reflect new information or the occurrence of unanticipated events or otherwise.