"Members Only" signs large product licensing agreement for mainland China.NEW YORK--(BUSINESS WIRE)--April 16, 1997--Aris Industries Inc. (OTCB:AISI AISI American Iron and Steel Institute AISI African Information Society Initiative AISI Alberta Initiative for School Improvement (Canada) AISI As I See It AISI American International Supply, Inc (Oakland, CA) ) announced today that its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. Europe Craft Imports Inc. completed a multimillion dollar licensing agreement for products bearing its "Members Only" label to be sold and distributed in mainland China. The agreement with Mansfield Garment Co., Ltd., Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , and its parent company Guangdong Enterprises (Holdings) Limited (listed on the Hong Kong Stock Exchange The Hong Kong Stock Exchange (Traditional Chinese: 香港交易所, also 港交所; abbreviated as HKEX; HKSE: 0388 ) is the stock exchange of Hong Kong. ) is characterized as one of the largest ever consummated between apparel companies in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and the Peoples Republic of China. During the course of the license agreement, which runs until June 30, 2007, Guangdong and Mansfield have scheduled minimum sales of $100 million and minimum royalty payments of more than $5 million to Europe Craft. Guangdong Enterprises, one of the largest vertically integrated apparel companies in the Peoples Republic of China, owns textile mills, tanneries, manufacturing plants, distribution facilities and department stores This is a list of department stores. In the case of department store groups the location of the flagship store is given. This list does not include large specialist stores, which sometimes resemble department stores. . Included in the licensing agreement are "Members Only" outerwear, sportswear, tailored clothing, shirts and ties, luggage, handbags, footwear, cosmetics and fragrance, eyewear, small leather goods and related accessories. The agreement further provides options whereby Guangdong and Mansfield may add additional "Members Only" brand product lines. Charles S. Ramat, chairman, president and chief executive officer of Aris and Europe Craft Imports, commented, "This significant `Members Only' licensing agreement for the Peoples Republic of China is proof that design and fashion know no geographic borders. We are extremely pleased to have a company of the magnitude and expertise of Mansfield and their parent Guangdong Enterprise join us in expanding our global reach. We look forward to sharing our design, merchandising and marketing know-how so that someday soon, the `Members Only' name may be as well known there as it is here. "This new Far East licensing contract is a logical extension to Europe Craft's recent sales expansion efforts in Europe, South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. and the Caribbean. Domestically, we are expanding our licensing program as well, having just added footwear to our roster," Ramat continued. "Our company has just concluded a most successful and profitable year and we look forward to continuing to grow." In a joint statement, Guangdong chairman He Keoin and Mansfield chairwoman Chong Sheng sheng (Chinese; “sage” or “saint”) In Chinese belief, a mortal who attains extraordinary or supernatural powers by self-cultivation and serves as a model for others. Confucius used the term to refer to exemplary rulers of the past. Li commented, "As we looked to the future, we recognized that our market was registering an increasing demand for Western style. Our research confirmed that `Members Only' symbolized the fashion styling of America. As we continued our investigation, we became most impressed with Europe Craft's design, merchandising and marketing skills. Our plan is to develop `Members Only' shops within our department stores which will feature `Members Only' products produced by our other divisions. Our production and distribution abilities and Europe Craft's design, marketing and merchandising skills should make a formidable combination. We are proud to have formulated this long term relationship." In addition to its "Members Only" brand, Europe Craft Imports Inc. is the maker of "Perry Ellis" mens outerwear, "Perry Ellis America" mens' and boys' outerwear and private label outerwear and sportswear." CONTACT: Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most Marketing Inc., New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Robert Perilla/Joan Hahn, 212/980-8078 |
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