Danskin, Inc. Announces Name Change to Triumph Apparel Corporation.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 -- Danskin, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :PK: DANS) ("the "Company") announced today that it has changed its name to Triumph Apparel Corporation. ("Triumph"), effective August 2, 2007. Triumph was the Corporation's name earlier in its 125 year history. The name change was required as part of the sale of its Danskin[R] intellectual property, to Iconix Brand Group Iconix Brand Group is a brand management company that licenses brands to retailers and manufacturers primarily in the apparel, footwear, and apparel accessory industries. Its brands are available in such stores as Kohl's, Kmart, Sears, Macy's, Mervyn's and JC Penney. , Inc. ("Iconix") in March 2007. As part of the transaction, Danskin entered into a license agreement with Iconix to continue to operate the Danskin[R] wholesale business, including its freestanding retail stores and its internet merchant site, Danskin.com. The Company's trading symbol Trading symbol See: Ticker symbol , DANS, remains the same. Carol Hochman, Triumph's Chief Executive Officer said "There has been no change in management and Triumph Apparel Corporation will be providing the same products and fine service under the Danskin[R] name on which we have built our reputation in the industry." About Triumph Apparel Corporation. New York City-based Triumph Apparel Corporation, formerly Danskin Inc., is a diversified activewear company and the official licensee, manufacturer and distributor of a complete line of Danskin[R] women's and girls' exercise, dance, cheer, yoga, lifestyle apparel and fitness equipment. After the sale of its Danskin[R] intellectual property to Iconix Brand Group, Inc. the company re-established the Triumph name, which had been the brand's corporate moniker (1) A name, title or alias. See alias. (2) A COM object that is used to create instances of other objects. Monikers save programmers time when coding various types of COM-based functions such as linking one document to another (OLE). See COM and OLE. earlier in its 125 year history. Danskin[R] brand is sold through better department and sporting goods stores nationwide, through more than 2,500 dance shops in the U.S., Canada and overseas, and through its own freestanding Danskin[R] boutiques and its internet merchant site Danskin.com. About Iconix Brand Group Inc. Iconix Brand Group Inc. (Nasdaq: ICON) owns, licenses and markets a growing portfolio of consumer brands including CANDIE'S[R], BONGO[R], BADGLEY MISCHKA[R], JOE BOXER[R], RAMPAGE[R], MUDD MUDD Multi-User Dungeons and Dragons (game) MUDD Multi-User Detector/Decoder [R], LONDON FOG[R], MOSSIMO[R], OCEAN PACIFIC[R], DANSKIN[R] and ROCA Ro·ca , Cape A cape of western Portugal on the Atlantic Ocean west-northwest of Lisbon. It is the westernmost extremity of continental Europe. WEAR[R]. The Company licenses it brands to a network of leading retailers and manufacturers that touch every major segment of retail distribution from the luxury market to the mass market in both the U.S. and around the world. Iconix, through it's in- house advertising, promotion and 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 agency, markets its brands to continually drive greater consumer awareness and equity. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. The statements that are not historical facts contained in this press release are forward looking statements that involve a number of known and unknown risks, uncertainties and other factors, all of which are difficult or impossible to predict and many of which are beyond the control of the Company, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Such factors include, but are not limited to, uncertainty regarding the results of the Company's acquisition of additional licenses, continued market acceptance of current products and the ability to successfully develop and market new products particularly in light of rapidly changing fashion trends, the impact of supply and manufacturing constraints or difficulties relating to the Company's licensees' dependence on foreign manufacturers and suppliers, uncertainties relating to customer plans and commitments, the ability of licensees to successfully market and sell branded products, competition, uncertainties relating to economic conditions in the markets in which the Company operates, the ability to hire and retain key personnel, the ability to obtain capital if required, the risks of litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. and regulatory proceedings, the risks of uncertainty of trademark protection, the uncertainty of marketing and licensing acquired trademarks and other risks detailed in the Company's SEC filings. The words "believe", "anticipate," "expect", "confident", "project", provide "guidance" and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward looking statements, which speak only as of the date the statement was made. |
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