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G-III Apparel Group signs license agreement for Andrew Marc
27
Feb '09
G-III Apparel Group Ltd announced that it had entered into a long-term men's accessories license for its Andrew Marc and Marc New York brands with Foundry Accessories, LLC. Under the agreement, Foundry, headed by Paul De Fabrizio, will design, market and distribute men's belts, wallets, messenger bags, portfolios, briefcases, luggage and other categories of accessories under the Andrew Marc and Marc New York brand names. Other terms of the license were not disclosed.

Morris Goldfarb, G-III's Chairman and Chief Executive Officer, said, "We believe that the Andrew Marc and Marc New York brands, which occupy an excellent position in upscale specialty retailers and department stores, are capable of supporting a broad range of product categories. We also believe that well-designed merchandise and up and coming brands can become a clear point of differentiation for our retail partners.

The contemporary aesthetic and high-fashion identity of the Andrew Marc brands are well suited to this kind of product line extension. As a licensee for so many strong companies, we believe that we have identified an excellent partner in Foundry Accessories, LLC, a company that shares our commitment to quality of design, provision of value to consumers, and a vision for the future for these important brands."

Paul De Fabrizio, President, Foundry Accessories, LLC, commented, "We are very pleased to have partnered with G-III to add the Andrew Marc and Marc New York brands to our developing portfolio of accessories businesses. The status of the Andrew Marc label is well suited to this important group of categories and we look forward to demonstrating our expertise in leveraging that brand identity to build a significant business in this market."

G-III Apparel Group Ltd

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