Phillips-Van Heusen Announces Licensing Agreement with Ritmo Mundo for IZOD Watches

Phillips-Van Heusen Corporation (NYSE: PVH) and Ritmo Mundo have entered into a licensing agreement under which Ritmo Mundo will market and distribute watches for men and women under PVH’s IZOD brand in North America. The agreement provides for an initial term of five-years, with a three-year renewal at PVH’s option.

(Graphic: Business Wire)

The new IZOD watch collection is designed to capture the sport-inspired lifestyle for which the IZOD brand is known. The collection will debut at BaselWorld 2011, the premier watch and jewelry event held annually in Switzerland, and will be distributed at major department stores and specialty stores throughout the United States, Canada, and Mexico.

"We are very excited to partner with Ritmo Mundo – a highly respected luxury watchmaker,” said Allen Sirkin, President and Chief Operating Officer of Phillips-Van Heusen. "With Ritmo’s extensive global experience, we believe they are the right partner to launch this new product offering under the IZOD brand.”

The IZOD collection will include chronographs and three hand watches with date indications in unique displays and will feature colorful straps in rubber and in leather. The watch collection will have new colors and styles seasonally and is expected to retail for approximately $75 to $200.

"Ritmo’s background has been focused on luxury goods and I'm delighted at the opportunity afforded by PVH to launch IZOD brand timepieces at a level where the consumer can get a truly stylized luxury watch at an affordable price. I appreciate PVH’s trust in Ritmo Mundo, and I look forward to making IZOD the watch for today's generation,” said Ali Soltani, President and Founder of Ritmo Mundo.

About IZOD and Phillips-Van Heusen Corporation:

IZOD, one of the best-known and best-selling apparel brands in the United States, is known for its sport-inspired, clean designs and colorful product lines. With a history in the United States dating back to the 1930s, the IZOD brand is licensed to 24 companies in the United States and is also sold in 21 other countries. IZOD brand products include apparel and accessories for men, women, and children, soft home goods, men’s fragrance and watches. The IZOD brand offerings include products sold under the IZOD PerformX (technical and performance fabricated sportswear), IZOD Jeans, and IZOD LX (a luxury sportswear collection sold exclusively at Macy’s) sub brands, which are sold in over 6,000 retail venues worldwide, including department, specialty and company-operated stores. For more information visit www.izod.com.

Phillips-Van Heusen Corporation, one of the world’s largest apparel companies, owns and markets the iconic Calvin Klein and Tommy Hilfiger brands worldwide. It is the world’s largest shirt and neckwear company and markets a variety of goods under its own brands, Van Heusen, Calvin Klein, Tommy Hilfiger, IZOD, ARROW, Bass and G.H. Bass & Co., and its licensed brands, including Geoffrey Beene, Kenneth Cole New York, Kenneth Cole Reaction, MICHAEL Michael Kors, Sean John, Chaps, Trump, JOE Joseph Abboud, DKNY and Timberland. For more information visit www.pvh.com.

About Ritmo Mundo:

Ritmo Mundo started in 2002 in Beverly Hills, CA by luxury retailer and watch aficionado Ali Soltani. Educated and trained as an attorney, integrated with the skills of a luxury retail merchant, it is a foregone conclusion that Ali Soltani strives to find harmony in contemporary watch making.

In the course of nine years, RITMO has found selective partners to highlight its product through diligent distribution in each region. RITMO is the official timepiece of the IZOD INDYCAR Series, has licensing agreements with HBO's award winning series Entourage and Sex and The City and can be seen in many Hollywood films and VIP events.

Architecture, geography and time integrated by commonality of culture, heritage and history are hallmarks of RITMO watches. The offerings provide fresh, innovative inspiration fit for any modern lifestyle. With unique details such as Persepolis’ orbital cases or special edition diamond models RITMO Italian and Swiss techniques to redefine the independent watch market.

For more information please contact info@ritmomundo.com

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