Phillips-Van Heusen Corp. has signed a licensing deal with The Timberland Co. to manufacture and market Timberland women's and men's casual sportswear in North America.
After assuming management of the men's apparel line in fall 2008, PVH will launch a women's Timberland line in fall 2009.
Timberland brand apparel generated about $70 million in sales last year in North America. The companies estimate that the men's line will be available in some 600 department store doors in fall 2008, in addition to specialty stores and Timberland's own full-price and outlet retail stores.
PVH expects to incur about $5 million in start-up costs this year associated with design. Including these start-up expenses, PVH projects its 2007 earnings per share will range from $2.97 to $3.05, excluding the January acquisition of Superba, which it expects to be modestly accretive.
PVH is a $1.7 billion apparel and neckwear vendor. The company-owned brands include Calvin Klein, Van Heusen, Izod, Arrow, Bass and G.H. Bass & Co., and PVH holds licenses for numerous brands including Geoffrey Beene, Kenneth Cole New York, Kenneth Cole Reaction, BCBG Max Azria, Michael Michael Kors, Sean John, Chaps, Tommy Hilfiger and Perry Ellis.
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