Joe's Jeans Inc announced that it has signed a new license agreement with Kids Jeans LLC to manufacture and distribute apparel products for infants, girls and boys. The new children's line will debut at the September 2009 tradeshows, Project in Las Vegas and Coterie in New York.
"To date, our children's offerings have largely been limited to denim. By licensing children's apparel to a company whose founders have built successful children's businesses, we will be able to accelerate the expansion of the product categories offered to Joe's loyal customers," said Marc Crossman, President and Chief Executive Officer.
"The addition of a full line of children's apparel to our licensed product program enhances our goal of reinforcing Joe's as a lifestyle sportswear brand. We expect the children's collection to complement our existing women's and men's collections."
The initial term of the agreement is for three years with minimum net sales commitments of $22 million. The agreement is renewable for two additional three year terms provided that certain targets are met and other customary terms and conditions for renewal.
Joe's Jeans Inc designs, produces and sells apparel and apparel-related products to the retail and premium markets under the Joe's brand and related trademarks.
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