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The Bon-Ton Stores, Inc. Announces License and Design Agreement with Victor Alfaro
YORK, Pa.-(Business Wire)-May 5, 2008 - The Bon-Ton Stores, Inc. (NASDAQ: BONT) today announced the signing of a license and design agreement with Victor Alfaro, an international designer, for an exclusive private brand collection, Victor by Victor Alfaro(TM), which includes misses', petite's and women's apparel, as well as shoes, accessories, jewelry and handbags. Ultimately, the brand may extend into men's and home. Under the agreement, which was structured by ACI Licensing as the licensing agency on behalf of Victor Alfaro, the collection will be designed by Victor Alfaro. Bon-Ton will manage the sourcing, manufacturing, distribution and marketing of the collection.
Bud Bergren, President and Chief Executive Officer of Bon-Ton, commented, "We are very excited about our new partnership with the acclaimed designer Victor Alfaro. The distinctive styling, quality and the value of this exclusive line strengthens Bon-Ton stores' position as a destination for fashionable, exclusive apparel and accessories. The collection will have a broad appeal as it crosses a wide range of age groups and demographics. Victor by Victor Alfaro(TM) is a compelling addition to our portfolio of exclusive private and national brand offerings which makes Bon-Ton the right place for our customers."
"From the beginning, Bon-Ton's approach to creating a strong, new brand identity for their stores fit my design sensibility," stated Victor Alfaro. "Bon-Ton's strategy aligns with my belief that if you bring a clear, fresh perspective to a brand, the customer will appreciate the difference and respond favorably. The Bon-Ton woman notices the difference: superior cut, perfect line, sensuous fabrics and attention to detail that comes with all of my collections. This collection is very special to me as it will be my main and only collection. The line has a very strong modern DNA which is achieved with the first fall launch collection."
The Victor by Victor Alfaro(TM) line will launch in September 2008 complete with a media and marketing program, fashion shows and personal appearances by Victor Alfaro. The collection addresses the wardrobe needs of the modern and confident woman, with a nod to the classics, and will include luxurious fabrics such as Italian merino wool and cashmere. The shoe collection is made of the finest quality leather. Jewelry and handbags will add the finishing touch with unique beading, designs and leathers. The new line will be sold in 153 stores initially and expand to all stores in spring 2009.
About Bon-Ton
The Bon-Ton Stores, Inc. operates 280 department stores, which includes eleven furniture galleries, in 23 states in the Northeast, Midwest and upper Great Plains under the Bon-Ton, Bergner's, Boston Store, Carson Pirie Scott, Elder-Beerman, Herberger's and Younkers nameplates and, under the Parisian nameplate, three stores in the Detroit, Michigan area. The stores offer a broad assortment of brand-name fashion apparel and accessories for women, men and children, as well as cosmetics and home furnishings. For a list of store locations and information, or for added convenience of shopping online, visit www.bonton.com.
About Victor Alfaro
Over the past 15 years, Victor Alfaro has established himself as a leading contemporary designer with his ready-to-wear and couture collections being sold worldwide, including Milan, Paris, London and Tokyo. Born and raised in Chihuahua, Mexico, Victor is the recipient of numerous prestigious fashion awards, including the CFDA Perry Ellis Award for New Fashion Talent, Omni Fashion Designer Award for Best American Designer, and Best New Designer from VH1 Fashion Awards, among others. A favorite among editors, Victor's collections have been featured on numerous magazine covers, such as Vogue, Cosmopolitan, Harper's Bazaar, Elle, In-Style and Vanity Fair. Over the years, Victor has built an extensive celebrity following that includes Madonna, Jennifer Lopez, Nicole Kidman, Demi Moore, Annette Benning and Cindy Crawford.
Statements made in this press release, other than statements of historical information, are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause results to differ materially from those set forth in these statements. Factors that could cause such differences include, but are not limited to, risks related to retail businesses generally, consumer spending patterns and debt levels, additional competition from existing and new competitors, inflation, changes in the costs of fuel and other energy and transportation costs, weather conditions that could negatively impact sales, uncertainties associated with opening new stores or expanding or remodeling existing stores, the ability to attract and retain qualified management, the dependence upon key vendor relationships and the ability to obtain financing for working capital, capital expenditures and general corporate purposes. Additional factors that could cause the Company's actual results to differ from those contained in these forward-looking statements are discussed in greater detail under Item 1A of the Company's Form 10-K filed with the Securities and Exchange Commission.
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