Joe Gromek, Warnaco’s President and CEO, commented, “We are pleased to add the Michael Kors brands to our portfolio of leading designer swimwear properties. This new partnership reflects Warnaco’s strategy to build upon its core competencies and expand our market position while working with the best brands in the marketplace.” About the Warnaco Group, Inc. The Warnaco Group, Inc., headquartered in New York, is a leading apparel company engaged in the business of designing, marketing and selling intimate apparel, menswear, jeanswear, swimwear, men’s and women’s sportswear and accessories under such owned and licensed brands as Warner’s(R), Olga(R), Lejaby(R), Body Nancy Ganz(TM), Speedo(R), Anne Cole Collection(R), Cole of California(R) and Catalina(R) as well as Chaps(R) sportswear and denim, JLO by Jennifer Lopez(R) lingerie, Nautica(R) swimwear, Michael Kors(R) swimwear and Calvin Klein(R) men’s and women’s underwear, men’s accessories, men’s, women’s, junior women’s and children’s jeans and women’s and juniors swimwear.
About Michael Kors (USA), Inc. Michael Kors is recognized as one of America’s pre-eminent designers for luxury sportswear. His namesake company, established in 1981, currently produces a range of products though his Michael Kors Collection, KORS Michael Kors, and soon to be launched MICHAEL Michael Kors labels, including men’s and women’s ready to wear, accessories, and a line of fragrance and beauty products for both women and men.This press release may contain “forward-looking statements” within the meaning of Rule 3b-6 of the Securities Exchange Act of 1934, as amended, Rule 175 of the Securities Act of 1933, as amended, and relevant legal decisions.
The forward-looking statements reflect, when made, the Company’s expectations or beliefs concerning future events that involve risks and uncertainties, including general economic conditions affecting the apparel industry, changing fashion trends, pricing pressures which may cause the Company to lower its prices, increases in the prices of raw materials the Company uses, changing international trade regulation and elimination of quotas on imports of textiles and apparel, the Company’s history of losses, the Company’s ability to protect its intellectual property rights, the Company’s dependency on a limited number of customers, the Company’s dependency on the reputation of its brand names, the Company’s exposure to conditions in overseas markets, the competition in the Company’s markets, the comparability of financial statements for periods before and after the Company’s adoption of fresh start accounting, the Company’s history of insufficient disclosure controls and procedures and internal controls and restated financial statements, the Company’s future plans concerning guidance regarding its results of operations, the effect of the settlement with the SEC, the effect of local laws and regulations, shortages of supply of sourced goods or interruptions in the Company’s manufacturing, the Company’s level of debt, the Company’s ability to obtain additional financing, the restrictions on the Company’s operations imposed by its revolving credit facility and the indenture governing the senior notes and the Company’s ability to service its debt.