LOS ANGELES, Nov. 5 /PRNewswire-FirstCall/ -- Guess?, Inc. (NYSE: GES) and its wholly-owned subsidiary, Guess IP Holder LP, today announced that it has entered into an exclusive worldwide licensing agreement with Parlux Fragrances, Inc. (Nasdaq: PARL) to develop, manufacture, and distribute prestige fragrances and related products under various Guess? trademarks. The initial term of the agreement is through December 2009. Due to the long launch period related to the development of fragrance products, the Company does not anticipate receiving significant royalty revenues from this license until 2005.
Paul Marciano, Co-Chairman and Co-CEO of Guess?, said, "Fragrance is a natural complement to the sexy, fresh lifestyle of the Guess? customer. We are excited to add fragrance to our large family of licensees and are fortunate to have found such a strong and established partner in Parlux."
Ilia Lekach, Chairman and CEO of Parlux, said, "We believe that Guess?, one of the foremost lifestyle brands in the world, will be extremely well received in the fragrance and beauty products marketplace. Our objective is to work closely with the highly talented team at Guess? to maximize the potential of this new product line in Guess? stores and through our large distribution network."
Guess?, Inc. designs, markets, distributes and licenses one of the world's leading lifestyle collections of contemporary apparel, accessories and related consumer products.
Except for historical information contained herein, certain matters discussed in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are only expectations, and involve known and unknown risks and uncertainties, which may cause actual results in future periods and other future events to differ materially from what is currently anticipated. Factors which may cause actual results in future periods to differ from current expectations include, among other things, the continued availability of sufficient working capital, the successful integration of new stores into existing operations, the continued desirability and customer acceptance of existing and future product lines (including licensed product lines), possible cancellations of wholesale orders, the success of competitive products, and the availability of adequate sources of capital. In addition to these factors, the economic and other factors identified in the Company's most recent annual report on Form 10-K for the fiscal year ended December 31, 2002 including but not limited to the risk factors discussed therein, could affect the forward-looking statements contained herein and in the Company's other public documents.
For further information, please contact: Carlos Alberini, President & Chief Operating Officer, +1-213-765-3582, or Frederick G. Silny, SVP & Chief Financial Officer, +1-213-765-3289, both of Guess?, Inc.; or Molly Morse of Kekst and Company, +1-212-521-4800, for Guess?, Inc.
SOURCE Guess?, Inc.
-0- 11/05/2003
/CONTACT: Carlos Alberini, President & Chief Operating Officer,
+1-213-765-3582, or Frederick G. Silny, SVP & Chief Financial Officer,
+1-213-765-3289, both of Guess?, Inc.; or Molly Morse of Kekst and Company,
+1-212-521-4800, for Guess?, Inc./
/Web site: http://www.guess.com /
(GES PARL)
CO: Guess?, Inc.; Parlux Fragrances, Inc.
ST: California
IN: REA FAS TEX HOU
SU: LIC
AJ
-- LAW039 --
8436 11/05/2003 09:01 EST http://www.prnewswire.com