MIAMI (Oct. 31, 2013) (GLOBE NEWSWIRE) – (Nasdaq:PERY) Perry Ellis International, Callaway Golf’s apparel licensee, today confirmed an agreement to expand its current partnership with one of the world’s largest golf companies to design, manufacture and sell golf apparel across Europe, the Middle East and Africa.
“We look forward to leveraging Callaway’s global recognition to further grow a truly authentic and international golf apparel collection,” commented Oscar Feldenkreis, President and Chief Operating Officer of Perry Ellis International. “We have become a market leader for golf and technical performance apparel, and will continue to make the necessary investments to make Callaway the premier golf apparel brand in the world. Given the current strength of the Callaway Golf brand, we believe this iconic brand will perform well in all geographic markets and help to further strengthen our relationships with our retail partners around the world.”
Currently, the principal apparel distribution in the region is operated directly by Callaway Golf. Perry Ellis International will assume responsibility for distribution channels for golf apparel product across Europe, the Middle East, and Africa, transitioning on January 1st, 2014. The men’s and women’s European Callaway Fall 2013 line is currently available at retail at leading golf specialty stores and resorts in the UK, Ireland, Germany, Sweden, Norway, Spain, Portugal, Austria, Switzerland, Finland, Czech Republic, Turkey and the Middle East. The addition of South Africa as well as a full European roll-out of the brand is expected by Spring 2014.
Oliver ‘Chip’ Brewer, President and CEO for Callaway Golf stated, “We are delighted to announce this expansion. Perry Ellis International has proven that they understand the importance we associate with our brand and has the skills, market knowledge, and relationships to expand Callaway’s leadership position in these markets.” He added, “Our strong relationship with Perry Ellis international’s team will ensure a smooth transition for our customers and consumers, and I am confident that their expertise in all aspects of the golf apparel market will further enhance and grow the Callaway brand.”
Perry Ellis International currently markets ORIGINAL PENGUIN® and FARAH® brands in Europe from their London headquarters facility and design center. Perry Ellis has established a dedicated team to operate the Callaway Golf apparel business in the expanded territories by directly integrating the business into its existing European organization and commercial infrastructure.
For the remainder of the 2014 Fiscal Year, Perry Ellis will make investments in staff and filling key open positions, upgrading product design of Callaway Golf apparel to reflect the expanded region’s consumer palate, and enhancing the existing operating infrastructure to perform the warehousing, embellishment and fulfillment of the apparel products.
Integration efforts and investments in the expanded distribution will intensify for the remainder of this year and into 2014 providing an infrastructure for international expansion.
“We continue to invest in building a strong international golf foundation for the future,” said George Feldenkreis, CEO of Perry Ellis International. “We have the talent and experience to strengthen our sales and distribution capabilities across multiple continents and become a leader worldwide in golf apparel, similar to the North American sound and profitable platform we have established over the past few years.”
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 Callaway Golf
Through an unwavering commitment to innovation, Callaway Golf Company (NYSE:ELY) creates products designed to make every golfer a better golfer. Callaway Golf Company manufactures and sells golf clubs and golf balls, and sells golf accessories under the Callaway Golf® and Odyssey® brands worldwide. For more information please visit www.callawaygolf.com or shop.callawaygolf.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.
Contact:
Perry Ellis International
Anita Britt, Chief Financial Officer
Anita.britt@pery.com
305-592-2830
