Hartmarx Corporation News
Hart Schaffner Marx, Sansabelt and Pierre Cardin Brands to be Marketed in India
The long term agreements provide for the opening of 135 Hart Schaffner Marx, 400 Sansabelt and 260 Pierre Cardin points of sale in
Arvind currently markets a number of international brands and is aggressively pursuing a multiple brand, multiple channel and multiple price point strategy to gain dominant leadership in the fast growing, branded apparel market in
The dynamics of the Indian market are rapidly changing and becoming very receptive to international brands. One quarter of its population (300 million) are between the ages of 20 and 35 and represent a high spending segment interested in fashion. Apparel sales are estimated to grow approximately 18 percent per year with the market for men's branded apparel to grow at the rate of 22 percent a year.
Sanjay Lalbhai, Chairman and Managing Director of Arvind Mills stated, "Our association with Hartmarx will not only add strength to our portfolio but will also help us secure a dominant position in the tailored clothing market. We are excited at the opportunity to embark on this association and to grow the business relationship with additional Hartmarx brands in the future. Our decision to partner with Hartmarx in
Hartmarx produces and markets business, casual and golf apparel under its own brands, including Hart Schaffner Marx, Hickey-Freeman,
The comments set forth above contain forward-looking statements made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements can be identified by the use of forward-looking terminology such as "anticipate," "believe," "continue," "estimate," "expect," "intend," "may," "should" or "will" or the negatives thereof or other comparable terminology. Forward-looking statements are not guarantees as actual results could differ materially from those expressed or implied in such forward-looking statements.
The statements could be significantly impacted by such factors as the level of consumer spending for men's and women's apparel, the prevailing retail environment, the Company's relationships with its suppliers, customers, licensors and licensees, actions of competitors that may impact the Company's business, possible acquisitions and the impact of unforeseen economic changes, such as interest rates, or in other external economic and political factors over which the Company has no control. The reader is also directed to the Company's periodic filings with the Securities and Exchange Commission for additional factors that may impact the Company's results of operations and financial condition. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Hartmarx Corporation
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