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Bernard Chaus Acquires Certain Assets of Private Label Manufacturer S.L. Danielle.

Business Editors


-- Provides Chaus with Opportunities to Expand

in Moderate, Private Label Markets --

Bernard Chaus, Inc. (OTC Bulletin Board: CHBD.OB) today announced that it has acquired certain assets of S.L. Danielle, a privately held manufacturer of moderately priced women's clothing based in New York City. Terms of the transaction were not disclosed.

The acquisition will provide Chaus with new capabilities in the private label arena and create a platform for expansion into the moderate segment of the women's clothing market. S.L. Danielle is well respected for its "Sew Be It" brand and private label activities and serves a range of customers including JC Penney, Charming Shoppes and Chico's. The addition of S.L. Danielle's business will complement Chaus' strong presence in the better sportswear area of leading department stores, where the Josephine Chaus brand is well known.

Josephine Chaus, Chairwoman and Chief Executive Officer of Chaus, commented, "We are delighted to welcome S.L. Danielle into our organization and believe this transaction makes great sense for both parties. For Chaus, the acquisition brings new capabilities and experience that will enable us to broaden our business base and reach new customers in the moderate channel. At the same time, S.L. Danielle will benefit from the resources and scale associated with being part of a larger company."

Robert Flug, S.L. Danielle's owner and Chief Executive Officer, commented, "This is an exciting time for us, as we become part of the Chaus family. We have long admired Chaus' design capabilities and strong brand name, and we look forward to collaborating with the Chaus team to grow our business. With Chaus' support and resources, we expect to be in an even better position to meet our customers' needs."

Nicholas DiPaolo, Vice Chairman and Chief Operating Officer of Chaus, added, "Over the past year, we have made good progress in increasing Chaus' profitability by enhancing efficiencies and lowering costs. This acquisition will provide opportunities to grow our top-line through expansion into an attractive new area. We expect the transaction to be accretive to earnings in fiscal 2003."

Bernard Chaus, Inc., designs, sources and markets an extensive range of women's career and casual sportswear, principally under the Josephine Chaus Collection and Josephine Chaus Sport trademarks. The Company's products are sold nationwide through department store chains, specialty retailers and other outlets. Further information can be found at

This press release contains forward-looking statements that are based upon current expectations and involve a number of uncertainties, including retail market conditions, the Company's ability to ship anticipated purchase orders of S.L. Danielle and to retain its customers, consumer acceptance of the Company's products, and the ability to achieve anticipated profit margins. Further information on potential factors which could affect the Company's financial results are included in the Company's Form 10-K for the year ended June 30, 2002.
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Publication:Business Wire
Geographic Code:1USA
Date:Dec 3, 2002
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