Nautica Enterprises, Inc. announced that its licensing subsidiary, Nautica Apparel, Inc., has signed a multi year license agreement with The Warnaco Group, Inc. to manufacture, distribute and market the Company’s existing Nautica Women’s Collection Swimsuits, Collection Separates Swimsuits and Nautica Blue Swimsuits for juniors. Also under the agreement, an expanded assortment of new products will be launched including, Nautica Beachwear, Nautica Signature, Nautica Girl as well as Nautica Swimwear Accessories. Warnaco’s first introduction will be the Cruise 2004 collection, to be shown in July 2003. Financial terms of the agreement were not disclosed.
Christopher Heyn, President of Nautica Apparel, Inc., commented, “We are extremely pleased to be partnering with an industry leader like Warnaco and are confident that they will continue to build upon the foundation of our successful swimwear business. Also, they share our passion for exploring the enormous untapped growth opportunities in the swimwear category. This is evidenced by our strategy to expand the Nautica brand concept by adding new products for her swim, beach and vacation lifestyle.”
Roger Williams, President of Warnaco’s Swimwear Group, said, “We are delighted to enter into this license agreement with Nautica. Nautica is among the most prestigious and recognized brand names in swimwear and we are excited to produce and distribute their products and work with them on expanding their offerings.”
Tony Alvarez, Warnaco’s President and CEO, commented, “We are proud to add Nautica to our portfolio of leading swimwear brands. The agreement underscores Warnaco’s commitment to expanding its business by capitalizing on its core competencies and working with the best brands in the marketplace.”