PVH TAKES AIM: Phillips-Van Heusen Corp. said Tuesday it signed a definitive agreement to acquire the Arrow brand, which it already produces under license, from Cluett American Group for about $70 million. The firm picked up the license for the brand in July 2000 and produces men’s dress shirts and sportswear, while boys’ apparel is sublicensed. PVH’s chief financial officer Emanuel Chirico said licensed women’s sportswear under the brand is also sold in Europe and Asia and might be expanded. Annual revenues from the Arrow brand range from $160 million to $170 million. The deal is to close by the end of the year.
This story first appeared in the November 24, 2004 issue of WWD. Subscribe Today.
LICENSING JONES: Jones Apparel Group plans to license Nine West women’s luggage and travel accessories business to Olivet International Inc. It is produced by Jones’ Nine West Accessories division. The new luggage line will be introduced during the March accessories market and will hit stores next fall. The goods will be targeted to luggage specialty stores, retailers that carry Nine West footwear, accessories and apparel, as well as specialty stores with luggage departments. Additionally, Jones recently inked a license for Jones New York men’s dress shirts with Capital Mercury Apparel. The collection will be shown to retailers next fall.