Phat Fashions Announces New License Agreement With Longstreet Industries for Phat Farm Sportswear Brands
NEW YORK, Aug. 23 /PRNewswire-FirstCall/ -- Phat Fashions LLC, a
Kellwood Company, announced today the partnership with Longstreet
Industries, a division of Stretch-O-Rama, Inc., to design and market the
sportswear and outerwear collections under the Phat Farm(R) and the new
XV(TM) brand names, according to Robert C. Skinner, Jr., Kellwood chairman,
president, and chief executive officer. Skinner also disclosed Russell
Simmons has stepped down as Phat Fashions CEO.
"We are pleased to further extend our relationship with Longstreet
Industries," said Bernt Ullmann, president of Phat Fashions. Longstreet
currently produces Baby Phat(R) and Phat Farm(R) swimwear and Phat Farm(R)
big and tall sportswear under license agreements with the company.
Ullmann added, "They have continually hit the mark with our current
agreements in providing our customers with high quality fashion, and I am
confident this will reflect in our new partnership as well. They have the
capabilities to help us maximize our brand potential through improved
apparel offerings and strengthened distribution."
Under the terms of the licensing agreement, the 15-year old Phat Farm
brand and the new XV brand will continue to be sold in the existing
high-end distribution channels; better department and specialty stores
throughout the United States, as well as the Phat flagship stores.
Longstreet, which has the licensed rights to design, source and sell the
brands, will launch its first collection with the Spring 08 season.
"We are honored to be chosen by Phat Fashions to produce these
collections. This agreement strengthens our existing relationship with the
company and we look forward to working with them to boost the power and
presence of the Phat Farm name," said Steven Arnold president of
Longstreet's branded divisions.
In a related move, Russell Simmons announced this was the right time
for him to step down as CEO of Phat Fashions in order to pursue his other
varied interests. Simmons sold Phat Fashions and all of its brands and
licenses to Kellwood in 2004. Following the sale, Simmons has held the
title of CEO of Phat Fashions, while also developing his own businesses in
the jewelry, fragrance, personal health and entertainment industries.
"Russell Simmons is one of the true pioneers of the urban lifestyle
fashion business," said Skinner. "He leaves an outstanding creative legacy
at Phat Fashions, and we will continue to build on that heritage as Phat
Fashions continues to break through boundaries and set the standard for
innovative design and high quality sportswear."
Simmons commented, "I have enjoyed my association with Kellwood over
the last three years. We have accomplished much during this short period of
time -- and I leave the division and the brand in great hands. There are so
many things I want to achieve, and this is the appropriate moment for me to
move on to my next business venture."
Simmons founded Phat Fashions' Phat(R) and Phat Farm(R) brands in 1992,
introducing a new and original approach to urban menswear. Phat Fashions'
womenswear brand Baby Phat(R) was launched in 1999. Both brands were
purchased by Kellwood as part of its 2004 acquisition. Following Mr.
Simmons' departure, all of Phat Fashions' brands will continue to be
operated, distributed and licensed by Phat Fashions and Kellwood, except
for Russell Simmons-Argyleculture and Atman, which will become his
trademark properties.
ABOUT PHAT FASHIONS LLC
Phat Fashions LLC, a Kellwood company, delivers a distinct expression
of style through its men's, women's, and children's lifestyle sportswear,
accessories, footwear, home collection, and loungewear. Phat Fashions'
portfolio of brands, including Baby Phat(R), Baby Phat(R) Girlz, Phat
Farm(R), Phat Farm(R) Boys and XV(TM), deliver a universal message that
transcends stereotypes and ethnic boundaries. Phat Fashions has 30 domestic
and eight international licensees covering 38 different product categories.
There are 13 freestanding Phat flagship stores globally operated under
license.
ABOUT KELLWOOD COMPANY
Kellwood Company (NYSE: KWD), a $2 billion marketer of apparel and
consumer soft goods, specializes in branded as well as private label
product, and markets to all channels of distribution with product specific
to a particular channel. For more information, visit
http://www.kellwood.com.
ABOUT LONGSTREET INDUSTRIES
Longstreet Industries is a division of Stretch-O-Rama, Inc., a New York
based company. The company produces a wide range of products including
apparel, accessories, handbags, headwear and shoes. Stretch-O-Rama
distributes product to department stores, specialty stores, mid tier and
the mass market.
SOURCE Kellwood Company
