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Business Wire
3 days ago
- Business
- Business Wire
PVH Corp. Announces Specialized Outerwear Category Licensing Agreement with Herman Kay-Mystic LLC for North America Wholesale Channel
NEW YORK--(BUSINESS WIRE)--PVH Corp. [NYSE: PVH] and Herman Kay-Mystic LLC ('Herman Kay') today announced a new licensing agreement of select wholesale men's and women's outerwear under the Calvin Klein and TOMMY HILFIGER brands in the U.S. and Canada, which is expected to launch in Spring 2026. PVH has a large and diversified global licensing business, which is a key competitive advantage globally. Through the multiyear takeback of its licensed women's wholesale business in North America, PVH will directly operate the key lifestyle expression of Calvin Klein and TOMMY HILFIGER through the world of underwear, sportswear, and jeans, which create the halo for the brands' expression and price position in wholesale. PVH will also partner with key experts for certain wholesale category businesses where the partner can provide deep category and channel expertise. The approach supports the company's long-term, brand-building growth strategy, the PVH+ Plan, and drives further scale in the marketplace. 'As we bring licenses in-house that represent the core part of our brands' lifestyle expression, we are also working with complementary partners, like Herman Kay, who are fully aligned with our brand vision and direction, and will contribute to driving sustainable, brand-accretive growth as we deliver on our PVH+ Plan,' said Donald Kohler, CEO, PVH Americas. 'Herman Kay is a recognized market leader in outerwear, and we're excited to work with them to accelerate our category growth plans in the market.' Barry Kay and Richard Kay, Co-Presidents of Herman Kay said, 'This partnership marks a major milestone in our company's growth, and the opportunity to align with PVH—a company we greatly admire—is both exciting and humbling. We are honored to bring our expertise to Calvin Klein and TOMMY HILFIGER and look forward to delivering exceptional specialized products and value to wholesale consumers.' About PVH Corp. PVH is one of the world's largest fashion companies, driven by its two iconic brands, Calvin Klein and TOMMY HILFIGER. For more than 140 years, PVH has connected with and inspired consumers globally and now operates in more than 40 countries worldwide. For more information, visit About Herman Kay Herman Kay is a global leader in outerwear design, development, and manufacturing with over 75 years of experience. Headquartered in New York City, Herman Kay is known for combining trend-driven design, speed to market, and sustainable innovation. The company partners with leading retailers and global brands to create high-quality outerwear collections that meet the needs of a modern consumer. SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: Forward-looking statements in this press release, including, without limitation, statements relating to the Company's plans, strategies, objectives, expectations and intentions are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy, and some of which might not be anticipated, including, without limitation, (i) the Company's plans, strategies, objectives, expectations and intentions are subject to change at any time at the discretion of the Company; (ii) the ability to realize the intended benefits from the acquisition of licensees or the reversion of licensed rights (such as the announced, in-process plan to bring in house a significant portion of the product categories that are or had been licensed to G-III Apparel Group, Ltd. upon the expirations over time of the underlying license agreements) and avoid any disruptions in the businesses during the transition from operation by the licensee to the direct operation by us or to a new licensee; (iii) the levels of sales of the Company's licensees at wholesale and retail, and the extent of discounts and promotional pricing in which the Company and its licensees and other business partners are required to engage, all of which can be affected by weather conditions, changes in the economy (including inflationary pressures like those currently being experienced globally), fuel prices, reductions in travel, fashion trends, consolidations, repositionings and bankruptcies in the retail industries, consumer sentiment and other factors; (iv) restrictions, including quotas and the imposition of new or increased duties or tariffs on goods from the countries where the Company or its licensees produce goods under its trademarks, any of which, among other things, could limit the ability to produce products in cost-effective countries, or in countries that have the labor and technical expertise needed, or require the Company or its licensees to absorb costs or try to pass costs onto customers or consumers, which could materially impact the Company's revenue and profitability; (v) changes in available factory and shipping capacity, wage and shipping cost escalation, and store closures in any of the countries where the Company's or its licensees' or wholesale customers' or other business partners' stores are located or products are sold or produced or are planned to be sold or produced, as a result of civil conflict, war or terrorist acts, the threat of any of the foregoing, or political or labor instability, such as the current war in Ukraine that led to the Company's exit from its retail business in Russia and the cessation of its wholesale operations in Russia and Belarus, and the temporary cessation of business by many of its business partners in Ukraine; (vi) disease epidemics and health-related concerns, such as the recent COVID-19 pandemic, which could result in (and, in the case of the COVID-19 pandemic, did result in some of the following) supply-chain disruptions due to closed factories, reduced workforces and production capacity, shipping delays, container and trucker shortages, port congestion and other logistics problems, closed stores, and reduced consumer traffic and purchasing, or governments implement mandatory business closures, travel restrictions or the like, and market or other changes that could result in shortages of inventory available to be delivered to the Company's stores and customers, order cancellations and lost sales, as well as in noncash impairments of the Company's goodwill and other intangible assets, operating lease right-of-use assets, and property, plant and equipment; (vii) the failure of the Company's licensees to market successfully licensed products or to preserve the value of the Company's brands, or their misuse of the Company's brands; and (viii) other risks and uncertainties indicated from time to time in the Company's filings with the Securities and Exchange Commission. The Company does not undertake any obligation to update publicly any forward-looking statement, whether as a result of the receipt of new information, future events or otherwise.
Business Wire
01-05-2025
- Business
- Business Wire
Karman Space & Defense Officially Opens Its New Decatur Facility with Ribbon Cutting Ceremony: Fueling Innovation and Advancing National Security
DECATUR, Ala.--(BUSINESS WIRE)-- Karman Space & Defense ('Karman' or 'the Company') (NYSE: KRMN), a leader in the design, development and production of critical, next-generation system solutions for launch vehicle, satellite, spacecraft, missile defense, hypersonic and UAS customers, today announced the official opening of its new, innovative facility in Decatur, Alabama. The milestone was celebrated with a ribbon-cutting ceremony attended by industry leaders, elected officials, and community partners. 'Karman's expansion in Decatur reflects our strong commitment to our customers, to national security, and to the future of space exploration,' said Tony Koblinski, CEO of Karman Space & Defense. Karman's new 30,000 square foot Decatur facility has been configured to maximize operational efficiency and support advanced defense and space systems, including design, engineering, manufacturing, assembly, integration, and testing. Strategically located in the heart of a thriving aerospace and defense corridor, the Decatur site positions Karman close to major primes and critical infrastructure, enabling the agile delivery of mission-ready solutions for the U.S. Department of Defense and commercial space partners. Karman's Decatur facility is set to onboard talent across a range of engineering disciplines, including quality engineering and assurance, as well as engineering and assembly technicians. The new site will create new, high skilled jobs in the region and reinforce Karman's commitment to workforce development and local economic growth. 'Karman's expansion in Decatur reflects our strong commitment to our customers, to national security, and to the future of space exploration,' said Tony Koblinski, CEO of Karman Space & Defense. 'Our new, cutting-edge facility enhances our ability to deliver mission-critical systems that strengthen U.S. defense capabilities and expand the boundaries of space innovation, powered by advanced technology, collaboration, and a bold vision for the future.' About Karman Space & Defense Karman Space & Defense is a leader in the design, development and production of critical, next-generation system solutions for launch vehicles, satellites and spacecraft, missile defense, hypersonics and UAS customers. Building on nearly 50 years of history and success, we deliver Payload & Protection Systems, Aerodynamic Interstage Systems, and Propulsion & Launch Systems to more than 70 prime contractors supporting more over 100 space and defense programs. Karman is headquartered in Huntington Beach, CA, with multiple facilities across the United States. For more information, visit our website, Forward-Looking Statements This announcement may contain 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We intend all forward-looking statements to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the fact that they do not relate strictly to historical or current facts and by the use of forward-looking words such as 'expect,' 'expectation,' 'believe,' 'anticipate,' 'may,' 'could,' 'intend,' 'belief,' 'plan,' 'estimate,' 'target,' 'predict,' 'likely,' 'seek,' 'project,' 'model,' 'ongoing,' 'will,' 'should,' 'forecast,' 'outlook' or similar terminology. These statements are based on and reflect our current expectations, estimates, assumptions and/ or projections, our perception of historical trends and current conditions, as well as other factors that we believe are appropriate and reasonable under the circumstances. Forward-looking statements are neither predictions nor guarantees of future events, circumstances or performance and are inherently subject to known and unknown risks, uncertainties and assumptions that could cause our actual results to differ materially from those indicated by those statements. There can be no assurance that our expectations, estimates, assumptions and/or projections, including with respect to the future earnings and performance or capital structure of Karman, will prove to be correct or that any of our expectations, estimates or projections will be achieved. Numerous factors could cause our actual results and events to differ materially from those expressed or implied by forward-looking statements, including the factors described in the filings we make with the SEC from time to time and, without limitation, that a significant portion of our revenue is generated from contracts with the United States military and U.S. military spending is dependent upon the U.S. defense budget; U.S. government contracts are subject to a competitive bidding process that can consume significant resources without generating any revenue; our business and operations expose us to numerous legal and regulatory requirements, and any violation of these requirements could materially adversely affect our business, results of operations, prospects and financial condition; our inability to adequately enforce and protect our intellectual property or defend against assertions of infringement could prevent or restrict our ability to compete; and we have in the past consummated acquisitions and intend to continue to pursue acquisitions, and our business may be adversely affected if we cannot consummate acquisitions on satisfactory terms, or if we cannot effectively integrate acquired operations. Readers are directed to the risk factors identified in the filings we make with the SEC from time to time, copies of which are available free of charge at the SEC's website at under Karman Holdings Inc. The forward-looking statements included in this announcement are only made as of the date of this announcement. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable law. For additional media and information, please follow us
